In a recent interview with Bloomberg, Netflix boss Ted Sarandos explains why they chose not to increase their bid for Warner Bros. Discovery. As I’m sure we all know, Netflix initially won the bidding war for WB/D but Paramount were willing to increase their offer further, which became the preferred bid. Netflix were invited to respond with a counter offer and declined to do so.
“We had a very tight range that we’d be willing to pay and made that offer back when we closed this deal. We hadn’t moved much from that, except for moving to cash, which served to move the deal faster. I’m happy where we got in and happy where we got out.”
“We knew right away, when we got the notice on Thursday, that they had a superior offer and the details of that deal. We knew exactly what we were gonna do.”
As for whether Sarandos believes Paramount’s merger with WBD should be approved?
“It should be highly scrutinized, the way I’m glad that ours was highly scrutinized. It should be looked at with every bit of the same microscope. Remember, we were asked to go and testify. David and I both were. I came.”
RELATED: Paramount Wins Race For Warner Bros. Discovery And Plans To Merge HBO Into Paramount+
He described his brief battle with Paramount’s David Ellison as,
“Unusual, yeah, unusual, irrational, whatever words you want to use in that. It’ll be fascinating to see the next steps. I have been on the record a lot in the last two weeks talking about what I think the future looks like.”
“I’m confident in our future that we’re not impacted by all that. In fact, maybe it’s to our advantage. But I hope I’m wrong for the sake of the industry.”
Sarandos also said he would not be surprised to see Warner Bros. be available again some time in the future. I’m not so sure about that myself, but who knows?
Finally today, despite reports that Paramount wants to keep all the WB studio heads, one insider thinks this will see the end of James Gunn. In the video below John Campea gives all his reasons why he thinks Gunn will eventually walk away from this new regime. Take a look and decide if you agree or not?
What do you think as Netflix boss Ted Sarandos explains why they chose not to increase their bid for Warner Bros. Discovery? Thoughts below as always on this historic merger.
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