Warner Bros reopens takeover talks with Paramount after receiving a waiver from Netflix

Warner Bros. will reopen takeover talks with Paramount Skydance after receiving a seven-day waiver to do so from its preferred bidder, Netflix.

Warner Bros. said in a regulatory filing Tuesday that the waiver will allow it to discuss unresolved “deficiencies” in Paramount’s previous offers.

Warner Bros. Discovery now has until Monday to negotiate a possible transaction with Paramount Skydance.

“While we are confident that our transaction provides superior value and certainty, we recognize the ongoing distraction for WBD stockholders and the broader entertainment industry caused by PSKY’s antics,” Netflix said in a statement.

Read more from the Associated Press.