Netflix Brushes Off Paramount’s Hostile Bid, Reaffirms Confidence in Warner Bros. Takeover

Netflix co-CEO Ted Sarandos has responded forcefully to Paramount’s hostile tender offer for Warner Bros., calling the attempt “entirely expected” and reaffirming that Netflix already has a “deal done.” The remarks came during a packed UBS conference in New York, just hours after Paramount, led by David Ellison, made a dramatic move to outbid Netflix.

Ted Sarandos, appearing alongside fellow co-CEO Greg Peters, emphasized that the $82.7 billion acquisition of Warner Bros. remains firmly on track. “We’re super confident we are going to get it across,” he said, framing the deal as a win for shareholders, consumers and the entertainment industry’s workforce.

Regulators, Jobs, and the Future of HBO

Addressing questions around regulatory hurdles, Peters clarified that Netflix will fully support the necessary review processes. “At the end of the day, it’s pro-consumer,” he stated, arguing that the merger enhances choice rather than limiting it.

Ted Sarandos also took a firm stance on preserving HBO’s identity, calling it “a prestige television brand that people really love.” He noted that under Netflix ownership, HBO will no longer need to dilute its focus to compete as a general entertainment network—Netflix already has that covered.

The executive duo stressed that, unlike Paramount’s approach, Netflix’s acquisition strategy is not about consolidation or job cuts. Instead, the company aims to expand theatrical distribution, respect Warner Bros.’ century-old filmmaking heritage and strengthen creative output across studios.

Inside the Battle: Paramount’s $18 Billion Pitch

Paramount’s counteroffer alleges that its bid delivers “$18 billion more in cash” to Warner Bros. Discovery (WBD) shareholders than Netflix’s deal would. Backed by billionaire supporters—including Jared Kushner—the proposal seeks to peel Warner Bros. away from Netflix’s grasp in one of the most high-stakes entertainment battles in history.

But Netflix isn’t flinching. The company showcased Nielsen data claiming it doesn’t dominate streaming as competitors suggest. Sarandos argued that in some metrics, YouTube and Disney surpass Netflix—bolstering the case that regulators should view the acquisition favorably.

Ted Sarandos Addresses Trump’s Influence

Adding political intrigue, Ted Sarandos acknowledged his recent secret meeting with President Trump, during which the merger was reportedly discussed. Though Trump praised the Netflix chief as “fantastic,” he also hinted that the deal “could be problematic.”

Sarandos attempted to neutralize speculation, saying Trump “cares deeply about American industry” and primarily wants job creation—a narrative Netflix has aggressively promoted throughout the acquisition process.

Looking Ahead: Netflix Stays the Course

Closing out the session, Ted Sarandos reassured long-term investors that Netflix remains unwavering in its mission. “We didn’t buy this company to destroy that value,” he said. “This deal is good for shareholders, good for consumers and great for the entertainment industry.”

As the streaming giants clash over Hollywood’s crown jewels, one thing is clear: the battle for Warner Bros. is now the biggest storyline in entertainment.