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.
BBC and C4 should forge ‘deeper’ ties, says UK creative industries minister
The UK’s BBC and Channel 4 should forge closer ties in an effort to compete with global streaming services such as YouTube and Netflix, according to Ian Murray, the UK’s Minister for the Creative Industries.
Paramount CEO David Ellison pens open letter to UK creative sector
David Ellison, Chairman and CEO of Paramount Skydance, has written an open letter to the UK creative community setting out a series of commitments should Paramount succeed in acquiring Warner Bros. Discovery.
UK film and high-end TV production hits £6.8bn in 2025
Film and high-end television production spend in the UK stood at £6.8bn in 2025, a 22% increase from 2024 and the third highest annual spend on record, according to the BFI’s Research and Statistics Unit.
48 products receive IPMX certification at ISE 2026
At ISE 2026, the Alliance for IP Media Solutions (AIMS) officially revealed the first 48 products that have been certified to the Internet Protocol Media Experience (IPMX) standard.
IBC Accelerator programme unveils shortlisted projects to pitch at Kickstart Day 2026
The IBC Accelerator Media Innovation Programme has announced the 12 project concepts scheduled to pitch their ideas to a live audience at Kickstart Day 2026, taking place on 25th Feb at BBC Broadcasting House, London.
.jpg)