Netflix suspects Paramount's massive bid for Warner Bros will backfire

Netflix co-CEO Ted Sarandos predicted severe consequences following Paramount Skydance's acquisition of Warner Bros., a deal finalized after Netflix withdrew from the bidding war in late February. Sarandos characterized Paramount's bid as "unusual" and "irrational," warning it could be seismic for the U.S. media landscape. According to Sarandos, Paramount plans cost-cutting exceeding $16 billion within 18 months, with production and personnel representing the largest expense targets. This will...