At least part of Tuesday’s earnings announcement, in which the company beat expectations, was designed to remind shareholders that the streaming giant is still a giant even if it’s blowing around $83 billion – now all in cash – to buy the two biggest pieces of WBD, its Warner Studios and its HBO Max streaming service. Sarandos took a major step in accomplishing his first task: He and WBD announced that the streaming giant had made its $83 billion bid for the company’s streaming service all cash, keeping it in the lead position to win the bidding war for WBD against rival Paramount Skydance, a.k.a. What is good for WBD and its shareholders (one of whom, Mario Gabelli, had been pressing Netflix to “simplify” its bid by making it all cash) may not be so good for the Netflix shareholder base as the company tries to pay down the costs associated with one of the biggest media buys in recent memory.
Author: Charles Gasparino
Published at: 2026-01-20 22:06:13
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