New Delhi, Feb. 18 -- Warner Bros. Discovery has been granted a seven-day waiver by Netflix to reopen negotiations with Paramount Skydance, injecting fresh volatility into a high-stakes battle for one of Hollywood's most valuable combinations of streaming, studio and cable assets.

The temporary permission - which runs through February 23, 2026 - allows WBD to engage directly with Paramount Skydance to address what it described as unresolved "deficiencies" in Paramount's hostile offer, even as WBD continues to recommend its pending transaction with Netflix. The company also said on Tuesday it would hold a special shareholder meeting on March 20.

In a statement, Warner Bros. Discovery confirmed that Netflix had agreed to loosen restrictio...