After withdrawing from its bid for Warner Bros. Discovery Channel last week, Netflix CEO Ted Sarandos revealed what’s next for the streaming company.
While it doesn’t appear that Netflix will be making another acquisition in the near future, Sarandos’ discussions with theater owners have resulted in the streaming platform planning “some really creative stuff” for their theatrical slate.
More from Deadline
“Everything I’m talking about requires us to buy that theatrical distribution entity,” he explained in an interview with Bloomberg. “But one of the great things is getting to know theater owners and having open conversations with theater owners. I really didn’t have much reason to do that before.”
Sarandos added: “We’ve come up with some really creative things to do together, as you can see stranger things and Korean Demon Hunter. we have one piece It opens in the U.S. and Japan next week. I think we’ll find a lot of cool things to do together in the future. I can see us doing things that have never been done before. “
He called Paramount’s bid “unusual, irrational, whatever word you want to use,” and added: “It’s going to be interesting to see the next steps. I’ve spoken publicly many times over the past two weeks about my vision for the future. I’m very confident in our future that we’re not going to be affected by this. In fact, maybe it’s good for us. But for the sake of the industry, I hope I’m wrong.”
Sarandos noted that while he acknowledged the Warner Bros. acquisition “is an extremely unique opportunity,” “we do want the asset. We don’t need it.”
Sarandos added that Netflix was “unlikely” to try another acquisition soon and planned to use the $2.8 billion termination fee “to continue investing in the business.”
“We are builders, not buyers,” Sarandos explains. “It’s all still true.”
Netflix walked away from the Warner Bros. deal on Thursday, refusing to increase its bid for a “higher” offer of $31 a share for Paramount Skydance. Netflix signed an $82.7 billion deal with WBD in December, before the Ellison-owned company launched a hostile takeover bid.
best deadline
Subscribe to Deadline’s newsletter. For the latest news, follow us on Facebook, Twitter and Instagram.
