5 Big News Stories Overnight - Friday, February 27, 2026

U.S.: Paramount Wins Bidding War for Warner Discovery After Netflix Drops Out

Wall Street Journal reports: 

Paramount Skydance emerged victorious in the bidding war for Warner Bros. Discovery after Netflix said it wouldn’t match the David Ellison-led company’s latest offer for the iconic Hollywood property.

Netflix pulled the plug on its deal soon after the Warner board of directors said it determined Paramount’s $31-per-share offer for the entire company was superior to Netflix’s bid for Warner’s movie and television studios and HBO Max streaming service. Paramount is now poised to take control of the entertainment company, home to properties and brands including HBO, Superman and Harry Potter.

“We’ve always been disciplined, and at the price required to match Paramount Skydance’s latest offer, the deal is no longer financially attractive, so we are declining to match,” Netflix co-CEOs Ted Sarandos and Greg Peters said in a statement. “This transaction was always a ‘nice to have’ at the right price, not a ‘must have’ at any price,” the pair said. 

Warner owns CNN and Paramount owns CBS news.

U.S.: Mortgage Rate Dips Below 6%

Reuters reports:

The average rate on the popular U.S. 30-year fixed-rate mortgage fell below 6% this week for the first time in 3-1/2 years, but the decline is likely temporary and on its own insufficient to significantly boost housing demand unless supply increases, said economists.

The 30-year fixed mortgage rate averaged 5.98%, the lowest level since September 2022, down from 6.01% last week, mortgage finance company Freddie Mac said on Thursday. It averaged 6.76% during the same period a year ago.

U.S.: Trump Says Ballroom Will Move Forward

Trump posted to social media:

Great news for America, and our wonderful White House! The Judge on the case of what will be the most beautiful Ballroom anywhere in the World, has just thrown out, and completely erased, the effort to stop its construction. As everyone knows, not one dollar of Taxpayer money is being spent, but rather, all money necessary to build this magnificent building is being put up by Patriot Donors and Contributors. The Ballroom construction, which is anticipated to also handle future Inaugurations and large State Visits, is ahead of schedule, and under budget. It will stand long into the future as a symbol to the Greatness of America! PRESIDENT DONALD J. TRUMP

Pakistan-Afghanistan: "Open War"

Al Jazeera reports:

Pakistan’s Defence Minister Khawaja Asif says it is now “open war” between Pakistan and Afghanistan’s Taliban government as explosions are reported in Kabul and fighting continues along the border.

Hours earlier, Taliban government spokesperson Zabihullah ⁠Mujahid said Afghanistan was carrying out “large-scale offensive operations” against the Pakistani military “along the Durand Line” that separates the two countries.

PHOTO: Farid Ershad, Unsplash

United Kingdom: Starmer in Crisis as Labour Falls to Third in by-election

Telegraph reports:

Sir Keir Starmer’s leadership has been plunged into further crisis after the Green Party swept to victory in the Gorton and Denton by-election.

Labour failed to defend a commanding 13,413 majority in what was one of its safest seats.

But in a tight three-way race between Labour, Reform and the Greens, Hannah Spencer secured a comfortable victory with 14,980 votes, a majority of 4,402. Ms Spencer, a Manchester plumber, becomes the Green Party’s fifth MP.

On a disastrous night for Sir Keir’s party, Labour candidate Angeliki Stogia was beaten into third place by Reform. Matthew Goodwin, Reform’s candidate, won 10,578 votes, while Ms Stogia won 9,364 votes, 25.4 per cent of the vote, down from 50.8 per cent at the 2024 general election.