Paramount Skydance is buying Warner Bros.
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Netflix Co-CEO Ted Sarandos says he’s not pivoting to another studio after losing out on Warner Bros.
In an interview with Bloomberg, he explained why he backed out of the deal and said Netflix pursued Warner because it was a unique opportunity. “We definitely wanted this asset. We didn’t need it,” he said, praising its “incredible IP” and long history. But he was clear the plan was to just move on:
Is there a world in which you guys go after another studio in the next 6 to 12 months?
Unlikely. We are builders, not buyers. All that is still true.
So how are you going to use that $2.8 billion?
Just keep investing in the business.
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