After months of speculation, it seems that Warner Bros. is now officially set to be acquired by another major entertainment conglomerate, Paramount Skydance. It was reported at the end of February that Paramount placed a high bid that satisfied board members at WB. By presenting that offer, which is reportedly worth $110 billion, Paramount exceeded the bid from Netflix, which originally appeared to be in the prime position to get WB. Now, in the aftermath of the deal, the streamer’s CEO is discussing the potential ramifications.
Netflix initially released a company statement about its decision not to place a new bid for WB and its assets. Company co-CEO Ted Sarandos didn’t immediately provide a response to the development, but he had more than a few thoughts to share this weekend. During a lengthy conversation, the exec was asked for his take on what this massive agreement (for which Paramount is borrowing money to cover) could mean for the entertainment industry at large. Sarandos responded by speaking to the economic side of the equation:
