Politics
Warner Bros. Discovery reopens bidding, gives Paramount seven days to make its case
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.”
Politics
Commentary: Happy Birthday, America! You’ve weathered another rough year
Happy Birthday, America!
You turned 250 on Saturday and, honestly, you don’t look a day over 249. (Ha ha.)
Seriously, it’s perfectly understandable why there’s more gray on your scalp and deeper worry lines on your face. This last year has been another challenging one, to say the least. (And we thought the one cataloged 12 months ago in this space was rough.)
The country is caught up in an unpopular, on-again, off-again war with Iran that was recklessly launched by President Trump with far more swagger than foresight. In an utterly predictable move, Iran choked off the the Strait of Hormuz, a vital passageway for the world’s oil, sending gasoline prices skyrocketing. Though they’ve fallen since the announcement of a shaky ceasefire agreement, the cost of filling up is still significantly higher than a year ago.
Of course, costlier oil means virtually everything else has become more expensive. Trump was reelected in good part because he vowed to tame inflation on his very first day in office. Instead, it’s reached a three-year high.
The ground beef served up at many July 4 cookouts costs 75 cents a pound more than it did a year ago. A package of hamburger buns is up 15 cents. The price of hot dogs and other picnic staples have also increased, along with just about every other item at the grocery store.
Chew that over with your corn on the cob. (Up roughly 2.5% from July 2025.)
Meanwhile, Trump enriched himself to the tune of $2.2 billion during his first year in office alone. Treating the U.S. treasury like his personal cash cow, the president has lavished hundreds of millions of taxpayer dollars on vanity projects such as a personally kitted out Air Force One — a “gift” from Qatar that Trump plans to keep after retirement — and a gilded White House ballroom, rising where the demolished East Wing used to stand. Plans are underway for a grand, marble arch in Washington celebrating, well, you know who.
At the same time, Trump has squandered money and resources pursuing political vendettas, persecution of his enemies and fruitless investigations like the one probing “theft” of the 2020 election and “vandalism” at the algae-clogged Reflecting Pool he promised and failed to rehab.
All this while millions of Americans have lost healthcare coverage and/or federal food assistance, all thanks to the One Big Billionaire Bounty bill that Trump signed into law a year ago.
It’s all a bit unnerving isn’t it, America? You’re on edge in a way you haven’t been in at least a generation.
In Minnesota, in the dead of winter, two of your citizens were gunned down by federal officers as they engaged in that most American of exercises, registering dissent against the policies of their government. From sea to shining sea, innocent Americans have been arrested — and sometimes shipped abroad — and immigrant communities cower in fear of federal agents who often seem bent more on meeting deportation quotas than meting out justice.
You’re divided, America, in ways no one alive has ever seen.
It starts at the very top. Trump acts as though he’s president of a favored rump group — his political supporters — rather than the nation as a whole. He’s used your 250th birthday not to celebrate those many grand and glorious things that hold us together as Americans but to bask in the tanning-bed glow of his immeasurable self-regard.
But, heck, if it’s any consolation on this star-spangled holiday weekend, the country has been through worse. Much worse. And you, America, have not only survived but in many ways grown stronger by surmounting obstacles, facing down your flaws and overcoming some knee-buckling, soul-crushing challenges.
Slavery. Civil war. Racist exclusionary laws. Genocide against indigenous peoples. Two worldwide conflicts. Depression. Financial crises. And too many deadly natural disasters — fire, floods, earthquakes, hurricanes — to enumerate.
Your treatment of some Americans, it should be said, hasn’t always been fair and just. It still isn’t.
People are despairing over the Supreme Court and its genuflecting deference to the president. The justices of its conservative majority have done just about everything short of handing Trump a crown and scepter to reign as a virtually untouchable, imperial president.
But it’s worth noting that earlier court majorities held that Black Americans — “beings of an inferior order,” in the words of the wretched Dred Scott decision — could be denied citizenship, that racial segregation was constitutional and that compulsory sterilization based on eugenics was perfectly fine from a legal standpoint.
That ugly, sordid history won’t necessarily make anyone feel better about the current state of affairs, nor should it. But it does offer some perspective and, with it, hope.
This weekend is best celebrated honoring the country’s many good things and the bright, shining place that America aspires to be, with liberty and justice for all. So chin up! Have another slice of birthday cake, America, and don’t worry about the calories — you really do look terrific for 250!
Going forward it’s up to us, your citizens, to keep working toward that more perfect union mentioned in the preamble to the Constitution. Whatever ails you, America, the remedy resides with we the people and the power we hold, particularly at the ballot box.
Unhappy with the wrecking crew that’s heedlessly chain-sawed federal programs and allowed Trump to money-grub with both fists, defile the White House and undermine our rule of law? Send a message and vote ‘em out, starting in November’s midterm election. And bear in mind the damage that’s been wrought come the 2028 presidential race.
Don’t stop believing that, as dark and difficult as things may seem right now, better days lie ahead.
That undimmed and abiding faith is what makes America great.
Politics
Trump set to deliver ‘historic’ speech celebrating America’s 250th anniversary
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President Donald Trump is set to deliver what the White House is calling a “historic” speech Saturday night before a massive fireworks display celebrating America’s 250th anniversary.
Trump is still expected to take the stage at 10 p.m. at the conclusion of the Salute to America celebration on the National Mall, though timing of events may fluctuate due to adverse weather, per a senior White House official.
The president’s address is expected to look back on America’s history since its founding 250 years ago, a senior White House official told Fox News.
THE LESSON WE CAN LEARN FROM BICENTENNIAL HISTORY IS TO PARTY LIKE IT’S 1976
President Donald Trump speaks during a rally at Mount Rushmore National Memorial on July 3, 2026 in Keystone, South Dakota. (Chip Somodevilla/Getty Images)
Trump will deliver a “unique” speech featuring the stories of American heroes.
“It will be a unique speech unlike any other he’s given before,” the official added.
Earlier Saturday, Trump celebrated what he described as a “stronger than ever” America in a Truth Social post, praising the “incredible” crowds gathered in Washington despite the heat and storms.
FOURTH OF JULY APP GUIDES SPECTATORS THROUGH NINE-HOUR AIR SHOW FROM NASA JETS TO B-1 BOMBERS
The grand finale lasted over two minutes to cap a 23-minute light and fireworks display over Mount Rushmore after President Donald Trump’s 28-minute speech, brief by his lengthy standards. (Matt Gade)
The president also highlighted the air shows over the nation’s capital, saying the pilots and aircraft were “at a level never seen before.”
Trump also addressed recent vandalism at the Reflecting Pool, calling those responsible “Vandal Thugs” and promising the pool would be drained and repaired after the holiday weekend.
The president’s remarks come one day after he delivered a patriotic speech at Mount Rushmore, where he called the United States the “most exceptional nation ever to exist” and warned that communism posed the nation’s greatest threat.
TRUMP HAILS AMERICA AS ‘MOST EXCEPTIONAL NATION EVER TO EXIST’ IN MOUNT RUSHMORE SPEECH
The U.S. Air Force Thunderbirds perform a flyover during “Salute to America 250” Fourth of July celebrations on the National Mall on July 4, 2026, in Washington, DC. (Finn Gomez/Getty Images)
“Communism is the exact opposite of life, liberty and the pursuit of happiness — it is death, tyranny and the pursuit of evil.
A severe thunderstorm swept through Washington on Saturday evening, prompting emergency officials to urge people on the National Mall to seek shelter.
CLICK HERE TO DOWNLOAD THE FOX NEWS APP
Freedom 250, the event organizer, said it would provide updates on the evening’s schedule as weather conditions developed.
Politics
Legal correspondent Paula Reid expected to join MS NOW after CNN departure
As CNN prepares for change under a new owner, the network’s chief legal affairs correspondent, Paula Reid, is heading for the exit and expected to jump to MS NOW.
The Washington-based Reid’s contract with CNN is up in several months and she has told the network she does not plan to renew. She is expected to sign on with CNN competitor MS NOW, according to people familiar with her plans who were not authorized to comment publicly.
A representative for MS NOW said the network does not comment on personnel matters but added, “as everyone in Washington knows, Paula Reid is an exceptional reporter, and any news organization would be fortunate to showcase her journalism.”
Reid‘s planned departure comes ahead of the impending merger of CNN parent Warner Bros. Discovery and Paramount. The combination has led to speculation over who will run CNN, and the uncertainty is said to have played a factor in Reid’s decision.
Reid joined CNN from CBS News in 2021.
CNN and Paramount’s CBS News will be combined after the merger, but the management structure is still under discussion. Paramount put Bari Weiss, founder of the heterodox digital news site the Free Press, in charge of CBS News in October, with a mandate to move the network’s coverage more to the political center. Based on the chaos that has ensued at CBS News under her watch, many CNN insiders are concerned over her possible stewardship of an even larger and more complex organization.
CBS News executives and on-air talent have pushed back at Weiss’ efforts to make changes at the division, which many insiders have viewed as an attempt to placate the Trump White House while Paramount seeks regulatory approvals needed ahead of closing the $111-billion Warner Bros. Discovery deal.
Internal resistance to Weiss has been strongest at the venerable news magazine “60 Minutes.” The program’s star correspondent Scott Pelley was fired last month after he confronted management over the dismissals of executive producer Tanya Simon and his on-air colleagues Sharyn Alfonsi and Cecilia Vega.
Weiss’ overhaul of the “CBS Evening News” with her handpicked anchor Tony Dokoupil has failed to improve the third-place program’s competitive position in the ratings. The program has also been criticized for some of its editorial decisions and logistical snafus.
CNN anchor Anderson Cooper has reportedly told colleagues he does not want to work for Weiss if the cable network is put under her purview. He already rejected an offer from Weiss to anchor the “CBS Evening News” and declined to renew his deal as a “60 Minutes” contributor after nearly two decades with the program.
The chaos at CBS has given pause to people at CNN. Larry Ellison, the tech billionaire and father of Paramount Chief Executive David Ellison, has reportedly promised Trump there will be sweeping changes to CNN after the merger.
Reid, 43, is among the many TV news correspondents and anchors that Trump has disparaged over the years, claiming they are unfair in their coverage. As White House correspondent for CBS News, Reid was known for asking tough questions of Trump during his White House briefings on the coronavirus.
Reid was a lawyer before becoming a journalist at CBS News in 2010. In addition to serving as White House correspondent for the network, she covered the Justice Department and the Supreme Court.
Reid would be another significant hire for MS NOW, the progressive-leaning channel that is rebuilding its roster after separating from NBC News and its parent, Comcast. The network formerly known as MSNBC is now part of Versant, a company with a stable of cable networks spun off by Comcast.
Peter Alexander, former chief White House correspondent for NBC News, is joining MS NOW as a morning anchor later this year. The network also hired former “CBS Mornings” executive producer Shauna Thomas as political director.
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