Netflix co-CEO Sarandos denies bids for Warner Bros. Discovery amid sale talks

Warner Bros. Discovery (WBD) is currently exploring strategic options including a potential sale, with multiple parties reportedly showing interest. However, Netflix co-CEO Ted Sarandos has publicly stated that Netflix has little interest in acquiring WBD, emphasizing the company's focus on organic growth rather than large mergers and acquisitions, especially avoiding legacy media assets. Sarandos highlighted that Netflix applies a strategic framework to evaluate M&A opportunities, prioritizing potential value, strategic fit, and price, but no acquisition is essential to meet its business goals. Industry observers note that prior media mergers have not significantly altered the competitive landscape, supporting Netflix's preference to remain a builder rather than a buyer. While Netflix might consider acquiring parts of WBD's streaming or studio assets, it is not interested in the entire company or legacy media networks. WBD is reportedly rejecting low bids, including one from Paramount, as it seeks to maximize shareholder value amid ongoing industry consolidation.