The ongoing speculation about the future of Warner Bros. Discovery appears to have attracted several suitors, except Netflix, with the streaming giant reportedly not intending to submit a bid. Greg Peters, who serves as the co-CEO of the company, addressed the burning question regarding Netflix’s supposed interest in acquiring WBD at a recent event, expressing skepticism about such a deal ever materializing.
Why Netflix may not acquire Warner Bros. Discovery
Greg Peters has relayed uncertainty about Netflix ever forwarding a bid to acquire Warner Bros. Discovery.
Speaking at the recently conducted Bloomberg Screentime conference in Los Angeles about the proposed Netflix-WBD deal, the veteran entrepreneur noted, “We come from a deep heritage of being builders rather than buyers. One should have a reasonable amount of skepticism around big media mergers. They don’t have an amazing track record over time.”
According to a report published by Deadline, Peters’ comments come after Paramount, which recently completed its merger with Skydance Media, showed signs of sending in an offer for the acquisition of WBD. While the entertainment juggernaut has yet to submit an official bid, the speculation has supposedly caused many media conglomerates to entertain the option of buying out WBD.
Rumors have also suggested that current Warner Bros. Discovery CEO David Zaslav had a significant role to play in inviting Netflix to the bidders’ table, as it would allow him to retain an important post in the company, post-acquisition. On the other hand, a deal with Paramount would not leave any assurances for Zaslav’s role in the organization.
“Our job is to figure out what is the best way to grow the business,” Peters remarked when asked whether Netflix is unlikely to issue a bid for Warner Bros. Discovery. “We have to think really carefully about how we invest our capital, our time, and our attention. And if that’s the best way to do it, great. And if it’s not, we should do something else,” he added.
Originally reported by Apoorv Rastogi on ComingSoon.net.
