Bloomberg News Now
Warner Bros Weighs Reopening Paramount Talks, Sanctions Chief to Leave, More
16 Feb 2026
Transcript generated automatically by AI and may contain errors.
Chapter 1: What is the main topic discussed in this episode?
The UK stands apart as a place to do business, not because of one advantage, but many working together. Over Ā£10 trillion in capital, four of the world's top universities, a 10-year industrial strategy in action, its stability with dynamism, global reach with local depth. It all adds up to greater growth. Find out more at business.gov.uk slash growth.
News when you want it with Bloomberg News Now. I'm Doug Krisner.
Chapter 2: What are the latest developments in Warner Bros and Paramount merger talks?
Warner Brothers Discovery may reopen takeover talks with Paramount Skydance. Last week, Paramount revised terms of its offer to address several concerns from Warner's board. Now, that would include covering a $2.8 billion breakup fee. Warner would owe Netflix if Warner were to terminate that merger agreement. Now, Paramount is also offering to backstop a refinancing of Warner Brothers' debt.
Here is Bloomberg's Tony Chuchka.
What it demonstrates is certainly that Paramount thinks it has staying power here in this battle and can yet turn the tide. The boards or members of the Warner Brothers board said to be considering the possibility now that the Paramount's guidance offer could actually be the better one.
That is Bloomberg's Tony Chuchku. Now the Paramount offer could also ignite a second bidding war with Netflix. There's been a shakeup at the U.S. Treasury Department. We have that story from Bloomberg's Monica Ricks.
Treasury Undersecretary John Hurley is reportedly stepping down following clashes with Treasury Secretary Scott Besant. Hurley served as the Trump administration's top sanctions official for terrorism and financial intelligence. But sources tell Bloomberg there was internal tension over tactics and targets of U.S. sanctions policy.
Officials are said to be floating Hurley for several ambassador roles now to keep him in the fold. But his exit is just the latest shakeup in senior ranks at the Treasury Department. Besson's first chief of staff and his successor both left last year. Monica Ricks, Bloomberg Radio.
It's the second day of a partial U.S. government shutdown. The Department of Homeland Security is unfunded, although more than 90 percent of DHS employees are deemed essential and are continuing to work. Now, the lapse in funding could last for weeks.
Congress is on a recess, and there has been no agreement on Democratic demands for new limits on tactics used by immigration officers patrolling America's cities. Here is Senate Minority Leader Chuck Schumer speaking on CNN's State of the Union.
Just look at every police department across the country. They don't walk around in masks. They don't walk around unidentified. Every police department is identified.
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Chapter 3: How is Paramount addressing Warner Bros' concerns in their offer?
In New York City, you see the name right on the breastplate, and the police are fine with that. So that makes no sense what they're saying.
That is Senate Minority Leader Chuck Schumer speaking earlier on CNN's State of the Union. Last week, White House border czar Tom Homan said the immigration crackdown in Minnesota would come to an end. He said over 1,000 agents were removed after meeting with local and state officials. Today, Homan spoke on CNN's State of the Union.
I got to give credit to the governor. We had good conversations. The state prisons are helping us. And Mayor Frey, me and Mayor Frey will never agree on much. But you know what? His officers did respond to take down illegal roadblocks that made it unsafe for not only citizens of Minnesota, but our officers. I think we're in a lot better spot than we ever have been.
That is White House border czar Tom Homan speaking on CNN's State of the Union. U.S. Secretary of State Marco Rubio is continuing his trip through Europe, making a stop in Slovakia after the Munich Security Conference. Rubio is doubling down on the Trump administration's position on Europe, saying the U.S. wants to focus on building up its allies.
I see it reported yesterday in some places, oh, the Europeans are very upset. They're going to be less dependent on America now. We don't want Europe to be dependent. We're not asking Europe to be a vassal of the United States. We want to be your partner.
That is U.S. Secretary of State Marco Rubio. Over the weekend, Treasury Secretary Scott Besson said he is expecting a hearing on the nomination of Kevin Warsh to be Fed chairman. Even so, North Carolina Republican Senator Tom Tillis is holding firm on his vow to hold up any appointments to the Fed until the DOJ probe into renovations of the Fed's headquarters is concluded.
Here is Tillis speaking on CBS Face the Nation.
The decision I get to make is whether or not I allow markup, and if I do allow markup, how I vote. And I'm saying that until the matter is solved, I'm a no.
North Carolina Republican Senator Tom Tillis speaking on CBS Face the Nation. Kentucky Republican Congressman Thomas Massey is taking aim at Attorney General Pam Bondi over the release of files related to Jeffrey Epstein. During an interview with ABC's This Week, Massey said he does not have confidence in Bondi, and he said there is no accountability at the DOJ.
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Chapter 4: What impact could a bidding war with Netflix have on Paramount's offer?
And that is News When You Want It with Bloomberg News Now. I'm Doug Krisner, and this is Bloomberg.
As a place to do business, the UK stands apart. Not because of a single advantage, but a uniquely powerful combination of many.
Chapter 5: What changes are happening at the U.S. Treasury Department?
As one of the world's leading financial centres, the UK puts over Ā£10 trillion to work every day, fuelling innovation across every sector. Home to four of the world's top universities, it provides exceptional talent and breakthrough research. This sits alongside a clear 10-year industrial strategy, unlocking smarter regulation and making it faster and easier to operate. Stability with dynamism.
Global connectivity with local depth. It all adds up to greater growth.
Visit business.gov.uk slash growth. Hello, I'm Stephen Carroll. I'm in Brussels, where many of Europe's biggest decisions get made.
And I'm Caroline Hepke in London. We're the hosts of the Bloomberg Daybreak Europe podcast.
We're up early every weekday, keeping an eye on what's happening across Europe and around the world.
We do it early so the news is fresh, not recycled, and so you know what actually matters as the day gets going.
From Brussels, I'm following the politics, policy and the people shaping the European Union right now.
And from London, I'm looking at what all that means for markets, money and the wider economy.
We've got reporters across Europe and around the globe feeding in as stories break.
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