"It's true. Historically, many of these mergers haven't worked. A lot of these failures were because the companies doing the a didn't understand the entertainment industry,"
"These are key businesses we understand."
"We have a healthy business,"
Netflix defended its acquisition of Warner Bros. Discovery's studio and streaming business as a strategic move grounded in industry understanding. Netflix argued that many past media mega-mergers failed because acquiring companies lacked expertise in the entertainment industry. Netflix emphasized that the company is healthy and that the acquisition is not being pursued to rescue the business. No specific prior mergers were named by the company, though AT&T-Time Warner and AOL-Time Warner are often cited as notable failures. The transaction is Netflix's largest acquisition to date and one of the largest in entertainment, with an equity value of $72 billion.
Read at Business Insider
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