![\"CEO](\"https:\/\/static.toiimg.com\/thumb\/msid-128958299,imgsize-40884,width-400,resizemode-4\/netflix-ceo-ted-sarandos.jpg\" "\\"Netflix")
<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div><\/div>\n<\/div>\nNetflix co-CEO Ted Sarandos has now broken his silence after dropping out of the bidding war for Warner Bros. Discovery, conceding defeat to Paramount Skydance. However, Sarandos warned that the rival\u2019s debt-heavy acquisition will come at a steep cost for Hollywood. Speaking to Bloomberg in an interview, Sarandos revealed that Netflix had planned for multiple scenarios in advance and also knew immediately that it would not match Paramount\u2019s final offer. \u201cWe knew right away, when we got the notice on Thursday that they had a superior offer and the details of that deal. We knew exactly what we were going to do,\u201d he told Bloomberg.Netflix had capped its bid at $27.75 a share and refused to chase Paramount\u2019s unprecedented $111 billion personal guarantee-backed deal. <\/p>\n Hollywood Power Shift: Paramount\u2019s $110B Warner Grab Sparks Media Shockwaves <\/p>\n<\/div>\n<\/div>\n <\/p>\n Sarandos warned that Paramount\u2019s financing strategy will force to thousands of layoffs. He also said that CEO David Ellison is expected to slash $16 billion in costs and also eliminate thousands of jobs. \u201cIt would be less production, less people working,\u201d Sarandos cautioned, predicting a ripple effect across Hollywood\u2019s creative workforce.<\/p>\n The Netflix bid had faced pushback from Labour unions, politicians and industry figures such as director James Cameron, mainly due to Netflix\u2019s history of limited support for move theatres. Sarandos stressed that regulatory scrutiny was routine and also said that the DOJ inquiry in now complete, adding, \u201cWe\u2019re in the clear.\u201d He dismissed speculation that political resistance influenced Netflix\u2019s withdrawal, noting that the president remained neutral.Despite losing Warner Bros., Sarandos revealed that Netflix will continue to expand its theatrical footprint. He highlighted recent collaborations with cinema owners and teased upcoming releases like One Piece in theaters. \u201cI think we\u2019re going to find a bunch of cool things to do together going forward,\u201d he said.Netflix co-CEO also emphasised that Netflix remains focused on building rather than buying. The company will redirect the $2.8 billion it saved by walking away into its core business. While acknowledging Warner Bros. was a \u201cunique asset,\u201d he insisted Netflix\u2019s growth does not depend on acquisitions.<\/div>\n\nParamount\u2019s debt burden <\/h2>\n<\/p>\n
Regulatory and political pressure<\/h2>\n<\/p>\n