US EditionNetflix Co-CEOs Go on Defensive over $83 Billion Warner Bros Deal
Netflix executives will explain their $83 billion Warner Bros. acquisition strategy amid antitrust concerns before the Senate Judiciary Subcommittee on Antitrust, Competition Policy and Consumer Rights.
- Next month, Netflix co‑CEO Ted Sarandos will testify before the Senate Judiciary Subcommittee on Antitrust, Competition Policy and Consumer Rights to defend the $83 billion Warner Bros. acquisition, with Sen. Mike Lee warning of an intense hearing.
- Facing competition from YouTube and other tech giants, Greg Peters and Sarandos said Netflix abandoned its long-held `build, don’t buy` approach to spend nearly $83 billion on Warner Bros. assets.
- Financing documents show that Netflix Inc. secured a $59 billion bridge loan and increased it by $8.2 billion to back a $27.75 per‑share all‑cash offer, while shares fell more than 6% and costs reached $60 million.
- Bruce Campbell, Warner Bros. Discovery chief strategy officer, will testify as lawmakers and competition regulators scrutinize the deal amid a bidding war with Paramount Skydance.
- The company points to HBO’s footprint, noting Greg Peters highlighted three primary value drivers: theatrical distribution, expanded production infrastructure, and HBO brand and approximately 100 million subscribers.
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Netflix's $83 Billion Warner Bet: Why YouTube Is The 'Threat' According To Co-CEO - Netflix (NASDAQ:NFLX)
Netflix co-CEO Greg Peters identified owned YouTube as the company's most formidable competitor. "YouTube is the formidable competitor. They drive a lot of hours, they have a great model," Peters stated in the interview.
Netflix defends Warner Bros bid as shares drop on tepid results | Honolulu Star-Advertiser
Netflix’s co-CEOs devoted much of the streaming pioneer’s post-earnings call defending their decision to splurge nearly $83 billion on Warner Bros’ assets, marking a significant departure from the company’s long-standing mantra: build, don’t buy.
Netflix Stock Tumbles to 52-Week Low as Finance World Sees Warner Bros. Deal as a Drag
Analysts fear that the Nextflix acquisition deal with Warner Bros. is dragging the streamer's stock down as stock value fell this week to a 52-week low. The post Netflix Stock Tumbles to 52-Week Low as Finance World Sees Warner Bros. Deal as a Drag appeared first on Breitbart.
Netflix Chief Ted Sarandos to Testify at Senate Antitrust Hearing About Warner Bros. Deal
Netflix co-CEO Ted Sarandos next month will go before a Senate committee to defend the streamer's $83 billion deal to buy Warner Bros.'s studios and streaming business -- and field questions about its antitrust implications.
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