Search results for Ted Sarandos
Telecommunications & Media
Netflix says content investment contributed $325 billion to global economy
Netflix said on May 13 it invested more than $135 billion in content over the past decade and created more than $325 billion in added value for the global economy. Its “Netflix Effect” report said the company produced series and films in more than 4,500 cities and towns across about 50 countries, creating over 425,000 jobs. The report highlighted Korean titles and cited spending, tourism, consumer demand and language-learning impacts.
Telecommunications & Media
Paramount to buy Warner Bros Discovery after Netflix withdraws
Netflix has withdrawn from the race to buy Warner Bros Discovery, and a Paramount group led by David Ellison has finalised a $111 billion acquisition, TechCrunch reported on Feb. 26. Warner Bros Discovery approved Paramount Skydance’s $31-a-share offer as a superior proposal. Netflix co-CEOs Ted Sarandos and Greg Peters said their negotiated deal could have created shareholder value but was not financially attractive to match the latest bid.
Telecommunications & Media
US lawmakers press Netflix on overseas production; Sarandos says Korea is separate
U.S. lawmakers pressed Netflix over rising overseas production at a Senate antitrust hearing. Co-CEO Ted Sarandos said Korean-language productions made with Korean actors and crews are produced locally for the South Korean market and should be treated separately, adding most other content investment is in the United States. Senators raised concerns that Netflix\'s planned $82.7 billion acquisition of Warner would boost market power, while Netflix cited its share of total TV viewing time.
