‘The Short Answer' Behind Why Netflix Head Honcho Says They Backed Out Of That Warner Bros. Sale [Yahoo! Finance]
Netflix, Inc. (NFLX)
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Source: Yahoo! Finance
When you buy through links on our articles, Future and its syndication partners may earn a commission. Credit: Netflix/Warner Bros./Paramount Pictures The battle for Warner Bros. appears to be over , although we've said that once before. After initially losing out to Netflix, Paramount initiated a hostile takeover that was ultimately successful after the studio under David Ellison upped its bid to a point that Netflix was unwilling to meet. The change in fortune for WB was a shock to many, and now Netflix CFO Spencer Neumann has given us some slight insight into why the streaming giant walked away. Appearing at the Morgan Stanley Media & Technology Conference, Neumann was specifically asked why Netflix decided not to compete with Paramount following its increased offer for Warner Bros. The CFO started with a joke ( via Deadline ), making reference to the prolonged battle that was waged over the studio. He said… We're not still in it?! So hard to get a laugh in this room! On
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