Paramount “did a very nice job of creating a very loud narrative of a regulatory challenge that didn’t exist” around Netflix‘s deal for Warner Bros, according to Ted Sarandos.
In an interview with Politico today, the Netflix co-CEO addressed the political dynamics of the Warner Bros. Discovery (WBD) auction, which ultimately ended with Paramount paying $31 a share for the HBO studio, totaling $111B.
“I can’t name a transaction that was similar to this that has ever been blocked in history,” Sarandos said of Netflix’s initial $27.75 a share deal for WBD.
“We did not have duplicated assets. We did have a market concentration issue in the marketplace that we operate in, and I think that’s the feedback I was getting back from the DOJ and from regulators in general, which was, they understood that, but I do think that Paramount did a very nice job of
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