Will Netflix’s $82.7 billion deal to acquire Warner Bros. receive the green light from federal regulators?
Initially, Paramount seemed like the top contender to snag the iconic movie studio, thanks to CEO David Ellison’s ties to the Trump administration. However, new reports from Bloomberg and The Hollywood Reporter reveal that Netflix co-CEO Ted Sarandos sat down with President Donald Trump in November to talk about a potential deal.
According to sources, Trump advised Sarandos that Warner Bros. should go to the highest bidder, leaving the Netflix executive feeling optimistic that the president wouldn’t block the acquisition.
Bloomberg also indicates that Warner Bros. CEO David Zaslav wasn’t keen on selling the company and was caught off guard when Paramount started to explore a buyout. Zaslav had anticipated that Ellison would hold off until the studio finalized a split of its film and streaming operations from its cable networks.
In the end, Warner Bros. announced it would consider other offers, resulting in a competitive bidding process that Netflix ultimately won. Still, Paramount might not back down just yet and could make a hostile bid.
