Sarandos Is Highly Confident Netflix Will Close the Deal for Warner Bros.
•February 19, 2026
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Why It Matters
The acquisition would dramatically expand Netflix’s content portfolio and competitive moat, while testing antitrust limits and influencing the future of theatrical releases.
Key Takeaways
- •Netflix confident it can close Warner Bros. acquisition.
- •Deal valued at $27.75 per share plus Discovery assets.
- •Netflix argues acquisition boosts long‑term growth and IP leverage.
- •Regulatory and integration risks acknowledged but deemed manageable.
- •Netflix pledges to maintain theatrical windows and support unions.
Summary
In a Bloomberg interview, Netflix co‑CEO Ted Sarandos said the streaming giant is “very confident” it will finalize its bid for Warner Bros. Discovery’s film and studio assets, emphasizing the company’s strong balance sheet and financing flexibility.
Sarandos outlined the bid terms – $27.75 per share for Warner Bros. plus the value of Discovery Global – and highlighted Netflix’s 2025 results: 16% revenue growth, 30% operating‑income increase and billions of additional viewing hours. He argued the acquisition would accelerate Netflix’s long‑term content strategy and leverage Warner’s century‑old IP.
He addressed market concerns, noting Warner’s stock fell over 30% after the deal was announced and acknowledging headwinds from AI and regulatory scrutiny. Sarandos also cited a new $1 billion production facility in New Jersey and pledged to keep the traditional 45‑day theatrical window, reassuring theaters and unions.
If completed, the deal would give Netflix a deeper library, strengthen its position against rivals like Paramount, and trigger antitrust reviews in the U.S., Europe and U.S. states. Shareholders on both sides stand to gain, while the broader industry could see a reshaped balance between streaming and theatrical distribution.
Original Description
Netflix co-CEO Ted Sarandos tells Bloomberg he is "highly confident" the deal for Warner Bros. Discovery will close. Netflix granted a seven-day waiver to Warner Bros. to reopen talks with Paramount Skydance that ends on February 23. Sarandos discusses why he believes Netflix’s offer is better for shareholders, viewers and theaters with Bloomberg’s Ed Ludlow and Lucas Shaw.
00:00 Ted Sarandos
00:30 Sarandos on buying Warner Bros.
01:50 This will be positive for long term
02:30 Sarandos says AI will be good for entertainment
06:20 This deal offers great value: Sarandos
06:50 Why the Netflix deal is better
08:30 Sarandos on working with White House
10:00 What deal means for movies
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