Home / Business and Economy / Netflix CEO: Paramount Deal Irrational, Trump Neutral
Netflix CEO: Paramount Deal Irrational, Trump Neutral
1 Mar
Summary
- Netflix CEO called Paramount's deal irrational and an irrational offer.
- Donald Trump remained neutral on the regulatory aspects of the deal.
- Netflix withdrew bid when Paramount's offer exceeded their set price.
Netflix CEO Ted Sarandos characterized Paramount's acquisition of Warner Bros. Discovery as an 'irrational' move, asserting that his company did not require the legacy studio's assets. He revealed that Netflix had a predetermined price ceiling and withdrew its bid once Paramount's offer exceeded that limit.
Sarandos further clarified that political influence, including from Donald Trump, played no role in Netflix's decision to pull out. He stated Trump remained entirely neutral, leaving the regulatory process to the Department of Justice, which Sarandos believed Netflix would have cleared. The CEO denied any consideration of removing board member Susan Rice at Trump's insistence.
Regarding speculation about Netflix strategically positioning itself for a cancellation fee, Sarandos dismissed the idea, noting that easier methods exist to generate significant revenue. He expressed confidence in Netflix's future, even suggesting the industry's developments might prove advantageous.
