Netflix: “We’re Not Interested In Acquiring Linear Assets”
23.01.2024 - 22:51
/ deadline.com
Netflix is often talked about a potential buyer for big Hollywood studios as the latest set of M&A rumors swirl but the streamer has now laid out its position in no uncertain terms.
“We’re not interested in acquiring linear assets,” the company said in its fourth-quarter financials.
It comes as Netflix added 13M subscribers in the quarter, far higher than expected.
The streamer also gave its perspective on the M&A talk that has dominated Hollywood over the last few months. Essentially, it doesn’t believe that more consolidation will “change the competitive environment” given what has come before.
“As our competitors adjust to these changes, it’s logical to expect further consolidation, particularly among companies with large and declining linear networks. We’re not interested in acquiring linear assets. Nor do we believe that further M&A among traditional entertainment companies will materially change the competitive environment given all the consolidation that has already happened over the last decade,” it it noted in its results.
It highlighted Viacom and CBS coming together, Disney buying some of the Fox assets, AT&T’s deal to buy Warner Bros. as well as Discovery’s move to later take over the company.
There’s been plenty of deal talk already over the last couple of months including rumors of a possible Warner Bros. Discovery and Paramount tie-up or the neverending saga about the ownership of Paramount owner National Amusements as well as a possible Comcast and Warner Bros. Discovery deal.
“But we expect our industry to remain highly competitive given: the franchise strength and programming expertise within traditional entertainment companies; ongoing heavy investment from large tech players like YouTube, Amazon
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