Netflix Defends Warner Bros Bid as Paramount Deadline Nears

The chief executive of Netflix has defended the company’s takeover proposal for Warner Bros, arguing that the deal would grow both the business and the wider entertainment industry as a rival bid from Paramount approaches a critical deadline.

Speaking in a broadcast interview, Netflix co-chief executive Ted Sarandos said the company’s offer is designed to expand production and distribution rather than consolidate existing assets. He said Netflix would be acquiring capabilities it does not currently own, adding new capacity to the market instead of shrinking it.

Warner Bros last year agreed to a Netflix-backed deal covering parts of its studio and streaming operations, but Paramount later submitted a competing proposal. The media group has given Paramount until the end of Monday to submit a final offer ahead of a shareholder vote on the Netflix agreement scheduled for next month.

Netflix has offered $27.75 per share, valuing the targeted Warner Bros assets at about $82.7bn. The proposal covers major brands including Warner Bros Pictures, New Line Cinema and HBO Max, while leaving the remainder of the company to be spun off as a separate business. Paramount’s competing $30-per-share bid, valued at roughly $108.4bn, is for the entire company, including its traditional pay-TV networks.

Sarandos criticised the rival proposal, saying it would involve significant cost-cutting and reduce the number of major studios operating in Hollywood. He argued that Netflix’s approach prioritises investment and long-term growth, citing the company’s expansion in the UK as an example.

The Netflix executive also dismissed political pressure linked to the deal, responding to comments from US President Donald Trump, who had criticised the company over board-level issues involving Susan Rice. Sarandos said the acquisition talks were strictly commercial and not politically motivated.

Paramount declined to comment on the latest remarks but has previously said its offer provides greater certainty for shareholders. The company has also pledged to cover the break-up fee Warner Bros would owe Netflix if the existing agreement collapses.

Sarandos also pushed back against criticism from filmmaker James Cameron, who warned regulators that the deal could harm the cinema industry. The Netflix boss said streaming and cinemas were not direct competitors, noting that frequent film viewing on streaming platforms can complement, rather than replace, trips to the big screen.

With the deadline for Paramount’s final offer approaching, the future ownership of Warner Bros remains uncertain as investors weigh two sharply different visions for the company’s next chapter.