Warner Bros. Discovery Inc. is considering reopening sale talks with Paramount, potentially igniting a bidding war with Netflix Inc., according to sources familiar with the matter. The move comes after Paramount submitted amended terms last week, addressing concerns and potentially offering a more lucrative deal.
The Warner Bros. board is currently discussing whether Paramount's offer could lead to a superior agreement, according to people with knowledge of the situation, as reported by Fortune. The board has yet to make a decision, and a binding agreement with Netflix remains in place. Paramount's amended terms include covering a $2.8 billion fee owed to Netflix if Warner Bros. terminates their agreement.
In other news, lawmakers and the White House remain at an impasse over oversight of federal immigration officers, leading to a partial government shutdown that began Saturday. Democrats are demanding changes to immigration operations following the fatal shootings of U.S. citizens by federal officers in Minneapolis last month, according to Fortune. Congress is on recess until February 23, and both sides appear entrenched in their positions, affecting agencies like the Transportation Security Administration and the Federal Emergency Management Agency.
Meanwhile, the Munich Security Conference concluded with Europe exploring ways to reduce its dependence on the U.S., according to NPR Politics. The conference saw tensions rise between the U.S. and Iran.
In the business world, Brewdog, the Scottish craft beer company, is exploring a potential sale and seeking new investors due to economic pressures, with financial experts managing the process while operations continue as usual, as reported by multiple sources cited by Fortune.
Finally, tech deals are making a resurgence for Presidents Day, following Valentine's Day and the Super Bowl, according to multiple sources compiled by The Verge. Retailers are offering limited-time discounts on items like TVs, earbuds, and smart home gadgets, including price cuts on Sonos speakers and new offers on OLED TVs and iPads.
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