Netflix Co-CEOs Greg Peters and Ted Sarandos have stressed their belief that the streamer’s planned $83bn acquisition of Warner Bros Discovery will go ahead, despite a hostile bid from Paramount Skydance.
In a memo to employees this week, Peters and Sarandos described their planned acquisition of Warner Bros Discovery (WBD) as “a win for the entertainment business.”
The executives set out their case for the acquisition amid widespread concern of job losses and the negative impact on cinemas if the deal goes ahead. It comes amid growing concerns of heavy regulatory scrutiny.
In their memo, Peter and Sarandos argued the Netflix deal is about growth: “Warner Bros. brings businesses and capabilities we don’t have, so there’s no overlap or studio closures. We’re strengthening one of Hollywood’s most iconic studios, supporting jobs, and ensuring a healthy future for film and TV production.”
The hostile bid from Paramount was “entirely expected,” they stated, adding they were confident the Netflix deal would get over the finish line.
“The fundamentals are clear: this deal is pro-consumer, pro-innovation, pro-worker, pro-creator, and pro-growth. Also, if you look at it through the lens of Nielsen data, even after combining with Warner Bros., our view share would only move from 8% to 9% in the US – still well behind YouTube (13%) and a potential Paramount/WBD combination (14%).”
They added that they made the deal because of WBD’s “deep portfolio of iconic franchises, expansive library, and strong studio capabilities will complement – not duplicate – our existing business.”
The execs said they would be “fully committed” to preserving theatrical releases as part of WBD’s distribution model, despite concerns that Netflix would prioritise streaming releases. “We haven’t prioritised theatrical in the past because that wasn’t our business at Netflix. When this deal closes, we will be in that business,” said Peters and Sarandos.
Netflix posted $10.5bn in revenue in the first three months of 2025, marking the first quarter it hasn’t disclosed quarterly subscriber figures. Discover more here.
.jpg)
Expanded Future Tech to showcase the very best in innovation, technology and talent
After a successful debut in 2025, Future Tech returns to Hall 14 of the RAI this year, with more features, more innovation and more of the technologies shaping the next era of media and entertainment.
Netflix uses GenAI on 300 titles in 2026
Netflix has revealed that nearly 300 titles on its platform have used generative AI, from early concept stages and pre-visualisation through to post-production and release.
Poppy Dixon appointed BBC Head of Documentaries
The BBC has appointed former Sky executive Poppy Dixon as its Head of Documentaries.
Virgin Media launches AI robots to monitor TV network in real-time
Virgin Media has created its own AI robots to monitor its television network quality in real-time in a bid to quickly identify and resolve any issues when they occur.
US government seizes over 1,000 websites streaming FIFA World Cup
Global anti-piracy coalition the Alliance for Creativity and Entertainment (ACE) has applauded the US government’s seizure of over 1000 illegal websites streaming the FIFA World Cup over the past month.
