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Outbyte Driver Updater FREEScan for outdated or missing drivers - takes under a minuteDriver Scan →Outbyte PC Repair FREERepair Windows errors before they cause bigger problemsFix Now →No. Netflix co-CEO Ted Sarandos said the company was not looking for another acquisition to replace its Warner Bros. bid, with growth expected to come primarily from its existing business. That was his reported position at Bloomberg Screentime in October 2026—not a promise that Netflix will never make another acquisition.
The deal is no longer pending: Paramount completed its takeover of Warner Bros. Discovery on October 6, 2026, and the combined company is to be known as Skydance.
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![Best of Warner Bros. 50 Film Collection (BD) [Blu-ray]](https://m.media-amazon.com/images/I/51qrQaTrIWL._SL160_.jpg)
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Best of Warner Bros. 50 Film Collection (BD) [Blu-ray] | $259.95 | Buy on Amazon |
| 2 |
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Venture Bros.: Radiant is the Blood of the Baboon Heart (Blu-ray) | $10.89 | Buy on Amazon |
| 3 |
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Maverick (BD) | $11.99 | Buy on Amazon |
| 4 |
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Maltese Falcon, The (4K Ultra HD + Blu-ray) | $17.99 | Buy on Amazon |
| 5 |
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WB 100th 25Film Collection Vol 1 Award Winners (Blu-ray) | $199.00 | Buy on Amazon |
Why Netflix walked away from Warner Bros.
Netflix had agreed to buy Warner Bros.’ film and television studios and HBO Max at an enterprise value of about $83 billion. The proposed deal did not cover all of Warner Bros. Discovery: Paramount’s competing offer was for the whole company. When Paramount raised its bid, Netflix declined in February 2026 to match it, saying the revised price was no longer financially attractive.
Co-CEOs Sarandos and Greg Peters characterized Warner Bros. as a “nice to have” at the right price, not a “must have” at any price. Sarandos later explained the limit Bloomberg reported: “At our scale, that was the top price point where I thought we could return value to our shareholders with that asset. Any more than that, I thought we’d be taking it into negative territory, even with our scale.”
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What Sarandos said about Netflix’s next move
At Bloomberg Screentime in Los Angeles in October 2026, Sarandos said Netflix was not growing as fast as he wanted, but defended the company’s strategy and its decision not to exceed its price ceiling. Bloomberg reported that Netflix expected growth to remain primarily organic and was not seeking another acquisition to replace Warner Bros.
He also said, “I think the plan was solid.” Variety reported that Sarandos acknowledged the deal had disrupted the business narrative for investors, the press, and others. His broader point was that companies sometimes have to put that narrative at risk when pursuing a move they believe will benefit the business over the long term.
How the completed takeover changes the picture
Paramount completed its $81 billion takeover of Warner Bros. Discovery on October 6, 2026. The result is distinct from the proposed Netflix transaction: Netflix had targeted the studio and streaming assets, while Paramount’s offer covered the entire company. The sale is complete; Netflix did not acquire Warner Bros. or HBO Max.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the reported figures say about Netflix’s strategy
The operating figures Sarandos discussed offer context for his comments, but they should be read as executive-reported figures rather than independent measurements.
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- Maverick [Blu-ray]
- PHYSICAL_MOVIE
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- Engagement: Bloomberg reported Sarandos saying Netflix engagement had grown 2% in the latest period he cited. Variety specified 2% year-over-year user-engagement growth in the first half of 2026.
- Live programming: Sarandos said about 5% of Netflix’s $20 billion content budget went to live programming, which he said generated about 1% of viewing.
- Theatrical releases: Sarandos told Variety Netflix had put more than 30 movies in theaters in 2025 and described wider theatrical releases for selected upcoming films.
The theatrical comments describe Netflix’s distribution activity, not the terms of the abandoned acquisition. In a separate interview filed with the SEC on February 20, 2026, Sarandos said the proposed Warner Bros. deal included 45 days of theatrical exclusivity. That was a proposed term for a transaction Netflix later left—not a current Warner Bros. policy or a Netflix-wide commitment.
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Rank #4
- Item name: The Maltese Falcon
- Product type: PHYSICAL MOVIE
- Brand: WB
Sources
- Bloomberg on Sarandos’s October 2026 remarks, Netflix’s acquisition stance, and the figures he cited.
- Associated Press on Paramount’s completed takeover and the resulting company.
- Variety on Sarandos’s comments about the deal narrative, engagement, live programming, and theatrical releases.
- U.S. Securities and Exchange Commission transcript of Sarandos’s February 20, 2026 interview about the proposed theatrical window.
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