After announcing an almost $83 billion deal to buy most of Warner Bros. Discovery on Friday, Netflix’s top brass projected calm on Monday as Paramount Skydance lobbed a hostile bid to purchase all of WBD and investors seemed to recoil at the sheer size of Netflix’s own offer.
“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.”
