Warner Bros may restart sale discussions with Paramount, says Bloomberg News

• Warner Bros board members are discussing whether Paramount could offer a path to a 'superior deal' compared to the hostile suitor's proposal
• Paramount amended its Warner Bros bid last week by adding provisions, though the per-share offer price was not increased
• The discussions represent a potential reversal after previous sale talks between the two major Hollywood studios

Summary

Warner Bros Discovery is reportedly considering resuming merger talks with Paramount Skydance after receiving an amended hostile takeover offer, according to Bloomberg News sources. The Warner Bros board is evaluating whether a deal with Paramount could provide superior value compared to the current offer on the table.

Key Developments:

• Paramount sweetened its Warner Bros bid last week by offering undisclosed terms, though the per-share price was not increased
• The amended offer comes as part of Paramount's hostile pursuit of Warner Bros
• Warner Bros board members are actively discussing the potential strategic benefits of combining with the rival Hollywood studio

Market Context:

The potential merger discussions involve two major entertainment conglomerates in the media and entertainment sector. Both companies operate film studios, television networks, and streaming platforms in an increasingly competitive landscape dominated by players like Netflix.

Important Notes:

• Reuters could not independently verify the Bloomberg report
• The article date is February 15, 2026 (future-dated, likely an error)
• No specific financial figures or deal valuations were disclosed
• Details about the "superior deal" terms remain undisclosed

Industry Implications:

Any potential merger between Warner Bros Discovery and Paramount would represent significant consolidation in Hollywood, combining extensive film libraries, production capabilities, and streaming assets. Such a deal would likely face regulatory scrutiny and reshape the competitive dynamics of the entertainment industry as studios seek scale to compete with streaming giants.

The situation remains fluid as board discussions continue.