Netflix co-CEO Ted Sarandos described a potential Paramount-Warner Bros. combination as an uncertain competitive proposition while addressing reports that he had approached HBO/HBO Max content chairman Casey Bloys.
Speaking Wednesday at the Bloomberg Screentime conference, Sarandos questioned how the companies’ two streaming services would perform together, saying it was unclear whether “one and one is two,” “one and one is one and a half,” or “one and one is three.”
Sarandos also played down speculation that he had courted Bloys for a job or production deal. He called Bloys “a super talented guy” and said they had shared a “very well-publicized lunch,” adding that Bloys would be “in a very good position wherever he does.”
A judge gave final approval for the merger to proceed, according to the report. Bloys’ expected role in the combined structure had not been officially announced.
Sarandos said he did not regret Netflix’s bid for Warner Bros. Discovery, arguing that the company had priced the deal at the highest level where he believed it could still create shareholder value. He said Netflix’s scale did not justify going higher.
He also backed the possibility of a federal production incentive, saying Netflix has filmed in all 50 states and has seen how state programs affect production decisions. Sarandos said U.S. states compete with one another, but do not compete as effectively with countries such as the U.K., where incentives can attract American productions and jobs. A federal tax credit has not been confirmed.
Comments
No comments yet.