Netflix co-CEOs Ted Sarandos and Greg Peters projected confidence and asserted that a Netflix takeover of Warner Bros. and HBO Max would “create and protect jobs in the entertainment industry.”
The pair spoke Monday at the UBS Global Media and Communications conference — hours after Paramount Skydance initiated a hostile offer presented as a tender offer to WBD shareholders. The pair also asserted that they are committed to Warner Bros. theatrical films in the same way that the studio operates now — addressing the immediate backlash from the film community out of concern that Netflix will dramatically shrink the theatrical exhibition window at a cornerstone film studio.
“Today’s move was entirely expected,” Sarandos said. “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. We’re super confident we’re going to get it across the line and finish.”
More to come
