Paramount has 7 days to raise its offer for Warner Bros. after Netflix waives exclusivity

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...