Netflix CEO Ted Sarandos breaks silence on losing Warner Bros. bid

Netflix co-chief executive Ted Sarandos has addressed the company’s failed attempt to acquire Warner Bros. Discovery, speaking publicly for the first time since losing out to Paramount.

In an interview with Bloomberg’s Lucas Shaw, Sarandos described the competing bidder as “unusual, irrational, whatever words you want to use,” suggesting the process had taken an unexpected turn.

While acknowledging the setback, he said he remained confident about Netflix’s long-term position, adding that the outcome could even work to the streamer’s advantage, though he hoped to be wrong “for the sake of the industry.”

Sarandos also weighed in on suggestions that political pressure from President Donald Trump may have influenced Warner Bros. shareholders.

He argued that it is “a lot cheaper to make noise than it is to actually raise your bid,” claiming that tactic was attempted before it became clear Netflix was not pursuing CNN as part of the deal.

At that point, he suggested, interest in their offer appeared to wane.

Explaining why Netflix stepped back, Sarandos said the company had maintained a strict valuation range and had not strayed far from its original offer, aside from shifting to an all-cash proposal to expedite proceedings.

Once notified of a superior bid, he said, the decision was immediate and decisive.