Netflix CEO: WB deal will force Paramount CEO David Ellison to layoff thousands

2026-03-03 - 14:23

Netflix's Ted Sarandos revealed the company bowed out of the Warner Bros. Discovery bidding war, deeming Paramount's debt-laden offer too risky. He warned of significant layoffs and reduced production at the rival studio. Despite the loss, Netflix will invest its saved funds into its core business and expand its theatrical presence.