Netflix is pumping the brakes on speculation that it’s planning to buy Warner Bros. Discovery. At Bloomberg’s Screentime conference in Los Angeles, Netflix co-CEO Greg Peters was asked directly whether there was any truth to the rumors that the streaming giant might make a play for WB.
His response couldn’t have been clearer: don’t count on it.
“I would say this: We come from a deep heritage of being builders rather than buyers,” Peters said (in what may have been a veiled shot at Disney CEO Bob Iger…). “One should have a reasonable amount of skepticism around big media mergers — they don’t have an amazing track record over time.”
Bob Iger via New York Times Events YouTube
That statement effectively pours some doubt on recent chatter that Netflix was preparing to enter the Hollywood megamerger arena. The speculation began circulating shortly after David Ellison — backed by his father, Oracle founder Larry Ellison — closed the $8 billion Paramount–Skydance deal and reportedly began exploring a full acquisition of Warner Bros. Discovery.
But according to Peters, Netflix doesn’t see size as the key to success.
“Our job is to figure out, ‘What is the best way to grow our business?’” he said. “If a major acquisition is the best way to grow our business, great. If not, we should do something else.”
Competing in a Crowded Arena
Moderator Lucas Shaw teased Peters about “competing with the second-richest person in the world,” referring to Larry Ellison’s involvement in Skydance. Peters took it in stride, saying: “It’s fun to have some new vigor in the competitive ecosystem. It’s exciting, keeps everyone on their toes.”
A scene from the teaser trailer for Stranger Things 5 – YouTube, Netflix
Still, he stressed that flashy deals don’t change Netflix’s fundamentals. When asked about reports that Skydance and Paramount had bid $7.7 billion for UFC broadcast rights, Peters shrugged off the idea that Netflix needed to match that kind of spending.
“If Netflix is outbid, my feeling is, ‘Go with God and try to monetize the heck outta that,’” he said.
Netflix, Peters argued, has always thrived by focusing on innovation, not acquisition. It’s an approach that seems to be paying off. The company’s current market capitalization sits at roughly $516 billion, making it the 19th most valuable company in the world. For comparison, Warner Bros. Discovery’s market cap is just $44 billion, ranking it around 530th globally.
The “Cancel Netflix” Campaign and Cultural Pressure
The conference also touched on other challenges Netflix faces — including a growing cultural backlash. Just last week, Elon Musk kicked off a “Cancel Netflix” campaign on his social platform X, accusing the company of pushing ideological bias in some of its kids’ programming.
A screenshot from Paranormal Park – X, @libsoftiktok
Peters didn’t address Musk directly but made a broader point about criticism. He said Netflix won’t remove content unless legally required to do so, emphasizing that creating entertainment for a nearly one-billion-person audience means some titles will always upset someone.
“If we’re doing it right,” Peters said, “there’s something on the service [some people] think is not great, that they don’t like or think is maybe harmful. That’s the business we’re in.”
Netflix’s Growth and Focus
Despite the controversies, Netflix continues to outperform expectations. The company beat Wall Street forecasts for the first two quarters of 2025 and even raised its annual revenue guidance to $44.8–$45.2 billion, up from $43.5–$44.5 billion earlier in the year — a projected 15–16% year-over-year increase.
Liam Hemsworth in the Witcher Season 4 Trailer – YouTube, Netflix
Netflix has also shifted away from reporting subscriber numbers, focusing instead on engagement and financial metrics.
At the conference, Peters revealed plans to expand Netflix’s push into gaming, introducing a new lineup of “party games” for TV — including Boggle Party, Pictionary: Game Night, Lego Party, and Tetris Time Warp.
The Bottom Line: Netflix isn’t Coming for WB…Yet
Greg Peters didn’t issue a flat-out denial, but his comments at Bloomberg’s Screentime conference strongly suggested Netflix isn’t interested in buying Warner Bros. Discovery anytime soon. Rather than entertain the idea, he framed the rumor as another example of Wall Street’s obsession with size over strategy.
Netflix Co-CEO Greg Peters in an interview with Bloomberg – YouTube, Bloomberg Live
“We come from a deep heritage of being builders rather than buyers,” Peters said, adding that big media mergers “don’t have an amazing track record.” The message was clear: Netflix believes it can keep growing organically, without inheriting someone else’s problems — or debt.
Still, his wording leaves a sliver of daylight. If a deal ever aligned with Netflix’s long-term vision, Peters didn’t rule it out — he just made sure everyone knew it’s not the plan today. For now, the streaming giant seems content to build, not buy — and certainly not to rescue Warner Bros. Discovery from its own mess.
In short: WB may still be for sale, but Netflix may not be buying.
Do you think Netflix will buy WB? Sound off in the comments and let us know!
It’s a smarter move to try and make your own IP instead of using all these ones that are already weighed down with woke baggage. Sure, you could always try and retcon your way out of it, but that’s never really going to happen because no one is willing to take the gamble on bringing back the audiences they chased away. And this is Netflix we’re talking about, so I’m sure they’ll screw it up with some sort of weird liberal agenda. Have they tried normalizing cannibalism or necrophilia yet? COMING SOON TO NETFLIX…