""Today's move was entirely expected," Co-CEO Ted Sarandos told investors at a UBS conference, brushing off Paramount's bid just hours earlier. "We have a deal done, and we are incredibly happy with the deal. We think it's great for our shareholders. It's great for consumers. We think it's a great way to create and protect jobs in the entertainment industry." From Netflix's perspective, Sarandos added, "We have a deal done, and we're incredibly happy with the deal.""
"Sarandos's co-CEO, Greg Peters, then walked the audience through Netflix's three-phase plan to wring value from Warner Bros. and HBO. If the deal goes through, he said, Netflix would turbocharge licensing opportunities, "double down" on the HBO brand, and unlock upsides from Warner Bros' vast library of IP, which many analysts consider a "crown jewel" in the industry. The executives' comments came after investors sent Netflix stock tumbling down 6% in the two trading sessions since its Warner deal was announced,"
Netflix announced an almost-$83 billion offer to buy most of Warner Bros. Discovery while Paramount Skydance launched a hostile bid for all of WBD. Netflix executives expressed calm and confidence, saying the deal is done and beneficial for shareholders, consumers and jobs. Co-CEO Greg Peters outlined a three-phase plan to extract value by turbocharging licensing, doubling down on the HBO brand, and leveraging Warner Bros.' extensive IP library. Investors reacted negatively, driving Netflix shares down roughly 6% in two sessions and over 20% in six months, with some analysts calling the $82.7 billion price exorbitant and risky. Peters acknowledged Netflix's history as a builder rather than an acquirer.
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