Netflix’s Co-CEO explains why he quit the Warner Bros. fight

By Lucas Shaw, Bloomberg

When Netflix Inc. dropped out of the bidding for Warner Bros. Discovery Inc. on Feb. 26, the news came as a surprise to many in Hollywood.

Netflix had agreed to buy Warner Bros.’ studios and HBO Max streaming business in December and co-Chief Executive Officer Ted Sarandos had done a string of press appearances and meetings talking about the deal, including at the White House.

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