Warner May Restart Paramount Talks, Sanctions Head to Leave, More
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News when you want it with Bloomberg News Now, I'm Doug Krisner. Warner Brothers Discovery is considering reopening talks with Paramount Skydance after receiving a revised hostile takeover offer from Paramount. We are told Warner's board is looking at whether Paramount could offer a path to a superior deal, although such a move could ignite a second bidding war with Netflix. Last week, Paramount submitted amended terms to address several concerns of Warner's board, and that would include covering a $2.8 billion breakup fee owed to Netflix if Warner terminates their takeover agreement. Paramount is also offering to backstop a refinancing of Warner Brothers' debt. 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. 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.
What are the latest developments in Warner Brothers and Paramount negotiations?
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 the 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.
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