Netflix once sized up massive buys like Electronic Arts, Disney, and Fox to fuel its growth, but internal roadblocks kept those plans on the shelf. Instead, the streaming powerhouse leaped into a blockbuster Warner Bros deal set for 2026, shaking up Hollywood and gaming worlds alike. Fresh details from industry insiders paint a picture of bold ambitions that fizzled – until now.
Netflix Eyed EA, Disney, and Fox Takeovers
Netflix’s leadership has actually been tossing around the idea of buying some huge names in entertainment and gaming for years. EA was a big contender because of their hit games and live-service expertise, and the team was definitely tempted by the idea of owning Disney or Fox’s massive character libraries. But the discussions always seemed to stall out because no one could agree on the price or the strategic fit.
Wall Street played a big part in that hesitation, too. There was a real fear that overpaying for these companies would tank Netflix’s stock. On top of that, Co-CEO Greg Peters has been pretty open about his skepticism regarding mega-mergers, saying they rarely work out as planned. In the end, those doubts kept Netflix from pulling the trigger on EA, Disney, or Fox, leading them down a different path.
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Warner Bros Winds Shift Gears
Fast-forward, and Netflix locked in exclusive talks to grab Warner Bros assets for around $82 billion, unlocking gems like Rocksteady’s Batman games and NetherRealm’s fighters. The move hands Netflix HBO hits, DC heroes, and Lego creators, blending streaming with blockbuster franchises. But President Trump’s flags on market dominance signal rough regulatory seas ahead.
Netflix brass bet on concessions like job protections or pricing caps to seal approval, betting their track record trumps rivals. This pivot from earlier caution shows how streaming wars force aggressive plays, even against historical wariness of big buys.
Paramount Fires Back Hard
Paramount, backed by Skydance, just stepped in with a massive $108 billion hostile bid for Warner. They’re basically accusing Warner’s board of rushing into a deal with Netflix without looking at other options. Paramount is offering fast cash, but if Warner tries to back out of the Netflix deal now, they’ll get hit with huge breakup fees. It looks like we’re heading for a long bidding war.
On the other side, this really shows how hungry Netflix is for gaming. After almost buying EA, they clearly want Warner’s studios to help them jump from mobile games to big-budget titles. It’s all about owning everything—movies, shows, and games – under one roof. Expect more of these massive mergers soon.
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