Entertainment

And Just Like That… Netflix’s Warner Bros. Takeover Will Reshape The Business, End The Streaming Wars & Likely Bring Another Culture Clash

December 5, 2025

Story Arc 'Stranger Things' and 'Game of Thrones' Netflix/HBO At Netflix’s holiday/awards season kickoff party Tuesday night, one topic was strictly off-limits, the then-ongoing bidding for Warner Bros. Discovery, in which Netflix was competing against Paramount Skydance and Comcast. Unlike Paramount Skydance CEO David Ellison, who pulled out from his Wednesday appearance at the NYT’s DealBook Summit, Netflix co-CEO Ted Sarandos showed up at the streamer’s off-the-record event, mingling for hours and taking pictures with talent, including Jacob Elordi, Ted Danson, Rian Johnson and Mike Schur.

'Stranger Things' and 'Game of Thrones'

Credit: Deadline

Key Highlights

But if a reporter broached the WBD sale in any way, even as a joke, Sarandos would walk away.
The Netflix boss clearly was not going to do anything that might jeopardize his company’s chances in the high-stakes auction.
Related Stories Acquisitions Keep Calm & Carry On: WBD's David Zaslav & Netflix's Greg Peters Tell Nervous Staff To Stay Focused Amidst "The Beginning Of New Possibilities" Merger News Elizabeth Warren Calls Netflix-Warner Bros.
Deal A "Nightmare," Warns Of "Higher Subscription Prices And Fewer Choices" Forty eight hours later, Netflix walked away as the winner, sealing an $82.7B deal with WBD for its Warner Bros.
film and television studio as well as HBO/HBO Max.

News Paramount Skydance David Zaslav Netflix WB Comcast David Ellison Ted Sarandos

Sources

And Just Like That… Netflix’s Warner Bros. Takeover Will Reshape The Business, End The Streaming Wars & Likely Bring Another Culture Clash

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And Just Like That… Netflix’s Warner Bros. Takeover Will Reshape The Business, End The Streaming Wars & Likely Bring Another Culture Clash

Key Highlights

Sources

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