Netflix co-CEO Greg Peters has played down speculation that the streaming giant is eyeing an acquisition of Warner Bros. Discovery (WBD), signalling that large-scale mergers are not on the company’s agenda. Speaking at the Bloomberg Screentime Conference in Los Angeles, Peters reaffirmed that Netflix’s growth strategy continues to centre on strengthening its own capabilities rather than expanding through major acquisitions.
“We come from a deep heritage of being builders rather than buyers,” Peters said during a conversation with Bloomberg’s managing editor for media and entertainment, Lucas Shaw. “One should have a reasonable amount of scepticism around big media mergers. They don’t have an amazing track record over time.”
Peters’ remarks come amid renewed industry chatter following reports that David Ellison, who recently completed an $8 billion merger between Skydance Media and Paramount Global, may be exploring a bid for WBD. The development has sparked speculation about whether Netflix or other major players might join the fray.
Addressing the rumours directly, Peters said Netflix’s decisions would remain driven by what best supports its long-term growth.
“Our job is to figure out, ‘What is the best way to grow our business?’ If a major acquisition is the best way, great. If not, we should do something else,” he stated.
When asked about competing with Oracle founder Larry Ellison, who backed the Skydance-Paramount deal, Peters welcomed the rising competition in the entertainment space.
“It’s fun to have some new vigour in the competitive ecosystem,” he said. “It’s exciting and keeps everyone on their toes. But it doesn’t change the business fundamentals.”
With Peters’ comments, Netflix appears intent on staying true to its builder’s DNA – growing not through consolidation, but through continuous innovation and creative independence.
