Apr 16, 2026 2:02pm PT

Ted Sarandos: Netflix Was ‘Willing to Put Emotion and Ego Aside’ and Walk Away from Warner Bros. Acquisition

Todd Spangler

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Todd Spangler

NY Digital Editor

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Michael Buckner/Variety

Ted Sarandos, co-CEO of Netflix, acknowledged that it was disappointing for the streamer to not win the deal for Warner Bros. Discovery‘s streaming and studios businesses. But he said the company “built its M&A muscle” through the experience — and tested its “investment discipline” to have the resolve to abandon the WB bid.

On Feb. 26, Netflix abandoned its all-cash $83 billion deal to buy the WB assets after David Ellison’s Paramount Skydance upped its hostile bid for WBD in its entirety to $31/share — leaving Paramount the winner of a debt-fueled takeover of the media conglomerate.

Ted Sarandos: Netflix Was 'Willing to Put Emotion and Ego Aside' and Walk Away from Warner Bros. Acquisition