Netflix Boss Defends Warner Bros Bid Ahead of Paramount Deadline

Netflix co-CEO Ted Sarandos has dismissed Paramount’s rival offer for Warner Bros. Discovery, arguing the Netflix deal is superior because it focuses on “growth” rather than cost-cutting. He publicly defended the company’s $83 billion offer to buy the studio and streaming assets of Warner Bros. Discovery (WBD).

The statements were made earlier today during an appearance on the BBC Today programme, just as a crucial deadline for a competing hostile bid from Paramount Global approaches. 

Speaking to the BBC, Sarandos said Netflix’s $82.7 billion offer for Warner Bros.’ studio and streaming assets, including Warner Bros., New Line Cinema, and HBO Max, would add capabilities the company currently lacks.

“We’re buying assets we don’t currently have,” he said, contrasting his bid with Paramount’s $108.4 billion offer for the entire company, including its traditional pay-TV networks.

The Competing Offers

• Netflix: $27.75 per share ($82.7B) for studio and streaming assets only
• Paramount: $30 per share ($108.4B) for the whole company, including linear TV

Warner Bros. accepted Netflix’s offer in December, but Paramount has since launched a competing bid. Warner Bros. has given Paramount until Monday to submit its “best and final” offer before a shareholder vote on the Netflix merger next month.

Sarandos Criticizes Paramount’s Plan

Sarandos claimed Paramount would immediately cut $6 billion from the business, with another $16 billion in reductions to follow.

“If the Paramount deal were to go through, Hollywood would go from five major studios to four,” he warned. “This industry would be substantially smaller under that control.”

Paramount has defended its offer as providing greater certainty for shareholders and has offered to cover Warner Bros.’ $2.8 billion breakup fee if the Netflix deal falls through.

Trump and Cameron Criticism Dismissed

Sarandos brushed aside President Trump’s threat that Netflix would “face the consequences” if it kept Democratic board member Susan Rice, calling it “a business deal, not a political deal.”

He also dismissed James Cameron’s claim that the merger would be “disastrous” for movie theatres, noting that Netflix users watch an average of seven films monthly, far more than the typical American’s two annual cinema visits.

“After seeing a great movie at the theatre, people want to watch more movies when they get home,” Sarandos said.

Paramount and Netflix are eagerly competing for Warner Bros. Who is most likely to prevail in the acquisition of the deal, as the Netflix agreement will be put to a vote by WBD shareholders on March 20, 2026.