Netflix CEO Ted Sarandos Addresses Warner Bros. Discovery Sale Speculation

Netflix co-CEO Ted Sarandos has indicated that the streaming giant is not actively pursuing a bid for Warner Bros. Discovery (WBD). During an analyst call following Netflix's third-quarter financial results, Sarandos stated, "Nothing is a must for us to meet our goals that we have for this business." He emphasized the company's preference for organic growth over large acquisitions, noting, "We’re predominantly focused on growing organically, investing aggressively and responsibly into the growth and returning access cash flow to shareholders."

Sarandos's comments coincide with WBD's announcement that its board has initiated a review of strategic alternatives in response to unsolicited interest from multiple parties for both the entire company and its Warner Bros. division. The options under consideration include continuing with the planned separation into two companies—Warner Bros. and Discovery Global—a transaction for the entire company, or separate transactions for its Warner Bros. and/or Discovery Global businesses.

Reports have suggested potential interest in WBD from entities such as David Ellison’s Paramount Skydance, Comcast, and Netflix. However, Sarandos reiterated Netflix's stance, stating, "We’ve been very clear in the past that we have no interest in owning legacy media networks, so there is no change there. But in general, we believe that we can be and we will be choosy."