Washington, Feb. 25 -- In a major twist in the Hollywood corporate landscape, Paramount has officially stepped up its pursuit of Warner Bros. Discovery (WBD) with a sweetened USD 31-per-share cash offer, prompting WBD to reopen merger talks.

The announcement, made on February 24, 2026, marks the most significant escalation in a bidding war that has drawn industry-wide attention.

As per Deadline, Paramount confirmed on Tuesday evening that it "welcomed" WBD's board determination that the revised offer could potentially qualify as a "Company Superior Proposal" under the terms of WBD's existing merger agreement with Netflix.

The development allows WBD to extend negotiations with Paramount, originally set to last seven days, beyond Monday....