Warner Bros. Discovery is cracking open the door to allow spurned bidder, Paramount Skydance, to make its case — but Warner’s board still maintains its preference for Netflix’s competing proposal.

Warner’s move to reopen talks comes after weeks of pressure from Paramount, which submitted an enhanced offer to buy Warner last week. Paramount’s willingness to increase its offer late in the auction attracted the attention of some Warner investors.

On Tuesday, Warner Bros. Discovery responded with a letter to Paramount Chairman David Ellison and others on Paramount’s board, giving the group seven days to “clarify your proposal.”

“We seek your best and final proposal,” Warner board members wrote. Warner set a Feb. 23 deadline for Paramount to comply.

The closely watched sale of the century-old Warner Bros., known for “Batman,” “The Big Bang Theory,” “Casablanca,” and HBO, the home of “Game of Thrones” and “Succession,” is expected to reshape Hollywood.

The flurry of activity comes as Warner Bros. Discovery and Netflix are seeking to enter the home stretch of the auction. Warner separately issued its proxy and set a special March 20 meeting of its shareholders to decide the company’s fate.

Warner Bros. Discovery is recommending that its stockholders approve the $82.7-billion Netflix deal.

“We continue to believe the Netflix merger is in the best interests of WBD shareholders due to the tremendous value it provides, our clear path to achieve regulatory approval and the transaction’s protections for shareholders against downside risk,” Warner Chairman Samuel A. Di Piazza, Jr., said in a Tuesday statement.

Still, the maneuver essentially reopens the talks.

Warner Bros. is creating an opportunity for Paramount to sway Warner board members, which could perhaps prompt Netflix to raise its $27.75 a share offer for Warner’s Burbank-based studios, vast library of programming, HBO and streaming service HBO Max.

Netflix is not interested in buying Warner Bros. Discovery’s basic cable channels, including CNN, TBS, HGTV and Animal Planet, which are set to be spun off to a stand-alone company later this year.

In contrast, Paramount wants to buy the entire company and has offered more than $30 a share.

Last week, Paramount sweetened its bid for Warner, adding a $2.8-billion “break fee” that Warner would have to pay Netflix if the company pulled the plug on that deal. Paramount also said it would pay Warner investors a “ticking fee” of 25 cents a share for every quarter after Jan. 1 that the deal does not close.

“While we have tried to be as constructive as possible in formulating these solutions, several of these items would benefit from collaborative discussion to finalize,” Paramount said last week as it angled for a chance to make its case. “We will work with you to refine these solutions to ensure they address any and all of your concerns.”

Netflix agreed to give Warner Bros. Discovery a temporary waiver from its merger agreement to allow Warner Bros. Discovery to reengage with Paramount, which lost the bidding war on Dec. 4.

“We granted WBD a narrow seven-day waiver of certain obligations under our merger agreement to allow them to engage with PSKY to fully and finally resolve this matter,” Netflix said Tuesday in a statement. “This does not change the fact that we have the only signed, board-recommended
agreement with WBD, and ours is the only certain path to delivering value to WBD’s stockholders.”

Netflix has matching rights for any improved Paramount offer. The company renewed its confidence in its deal and its prospect to win regulatory approval.

“PSKY has repeatedly mischaracterized the regulatory review process by suggesting its proposal will sail through, misleading WBD stockholders about the real risk of their regulatory challenges around the world,” Netflix said in its statement. “WBD stockholders should not be misled into thinking that PSKY has an easier or faster path to regulatory approval – it does not.”

Warner Bros. Discovery acknowledged that Paramount’s recent modification “addresses some of the concerns that WBD had identified several months ago,” according to the letter to Paramount.

But Warner Bros. Discovery added Paramount’s offer “still contains many of the unfavorable terms and conditions that were in the draft agreements … and twice unanimously rejected by our Board,” Warner Bros. Discovery said.

Warner’s board told Paramount it will “welcome the opportunity to engage” during the seven-day negotiation period.

Paramount has been pursuing the prized assets since last September.

“Every step of the way, we have provided PSKY with clear direction on the deficiencies in their offers and opportunities to address them,” Warner Chief Executive David Zaslav said in a statement. “We are engaging with PSKY now to determine whether they can deliver an actionable, binding proposal that provides superior value and certainty for WBD shareholders.”

EXCLUSIVE: House Majority Whip Tom Emmer, R-Minn., is accusing Democrats of being hypocritical in their opposition to Republicans’ latest election integrity bill.

The No. 3 House Republican ripped the rival party after nearly all of them voted against the Safeguarding American Voter Eligibility (SAVE America) Act last week, specifically over its provision mandating federally accepted photo identification at the polls. It’s also sometimes referred to as the “SAVE Act.”

“These guys are doing the same old broken record about voter suppression,” Emmer told Fox News Digital. “Why aren’t they screaming about photo IDs at the airport? Why aren’t they screaming about photo IDs when you check out a book at the library?”

NOEM BACKS SAVE AMERICA ACT, SLAMS ‘RADICAL LEFT’ OPPOSITION TO VOTER IDS AND PROOF OF CITIZENSHIP

Emmer pointed out that a photo ID was required for attendees to watch former Vice President Kamala Harris accept the Democratic Party’s nomination for the White House in Chicago last year.

“By the way, if they think it’s voter suppression, why do they require photo IDs at the Democrat National Convention to get in?” Emmer said.

“I mean, I think Americans are so much smarter than these people can understand, can let themselves understand,” he said.

The SAVE America Act passed the House on Wednesday with support from all Republicans — an increasingly rare sight in the chamber — and just one Democrat, Rep. Henry Cuellar, D-Texas.

A previous iteration of the bill, just called the SAVE Act, passed the House in April of last year with support from four House Democrats.

Whereas the SAVE Act would have created a new federal proof-of-citizenship mandate in the voter registration process and imposed requirements for states to keep their rolls clear of ineligible voters, the updated bill would also require photo ID to vote in any federal election.

That photo ID would also have to denote proof-of-citizenship, according to the legislative text.

DEMOCRAT CLAIMS SAVE ACT WOULD BLOCK MARRIED WOMEN FROM VOTING; REPUBLICANS SAY THAT’S WRONG

Democratic leaders in the House and Senate have both panned the bill, with House Minority Leader Hakeem Jeffries calling it “voter suppression” and Senate Minority Leader Chuck Schumer, D-N.Y., dismissing it as “a modern-day Jim Crow.”

Jeffries also specifically took issue with a provision that would enable the Department of Homeland Security (DHS) to initiate removal proceedings if an illegal immigrant was found on a state’s voter rolls, arguing DHS would weaponize the information.

But voter ID, at least, has proven to be a popular standard in U.S. elections across multiple public polls.

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A Pew Research Center poll released in August 2025 showed a whopping 83% of people supported government-issued photo ID requirements for showing up to vote, compared to just 16% of people who disapproved of it.

A Gallup poll from October 2024 showed 84% of people supported photo ID for voting in federal elections.

CNN anchor Anderson Cooper is walking away from his second job at “60 Minutes” in the latest sign of upheaval at the storied news magazine.

Cooper said in a statement Monday he is leaving the CBS News program because he wants to spend more time with his two young children. He joined the program in 2007 while maintaining his role as prime-time anchor at CNN.

“Being a correspondent at ’60 Minutes’ has been one of the great honors of my career,” Cooper said. “I got to tell amazing stories, and work with some of the best producers, editors and camera crews in the business. For nearly 20 years, I’ve been able to balance jobs at CNN and CBS, but I have little kids now and I want to spend as much time with them as possible, while they want to spend time with me.”

Cooper’s departure could be the first of a number of changes for “60 Minutes” as Bari Weiss, who joined CBS News as editor-in-chief last October, is expected to substantially overhaul the prestigious news magazine.

Cooper, 58, was courted for the anchor role at “CBS Evening News” last year before the network parted ways with the anchor duo of Maurice DuBois and John Dickerson. Cooper signed a new deal with CNN instead, and CBS News gave the anchor job to Tony Doukopil.

This is a developing story.