Netflix CEO Sarandos Says He Bailed on WBD Due to Price, Not Politics

Sarandos claims Netflix withdrew from the bidding war over Warner Bros. Discovery due to price, not any political considerations.

Published on Mar. 2, 2026

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Netflix co-CEO Ted Sarandos says the company's decision to withdraw from the bidding for much of Warner Bros. Discovery's assets was driven by price, not politics. Sarandos visited the White House on Thursday, shortly before Netflix announced it was no longer pursuing the WBD deal, but he insists the two events were not connected. He claims Netflix simply didn't want to raise its original $27.75 per share offer, which was ultimately topped by a "superior proposal" from Paramount.

Why it matters

The withdrawal of Netflix's bid for WBD has sparked speculation that political factors, particularly the Ellison family's courting of former President Trump, may have played a role. Sarandos' insistence that price was the sole factor could help quell those rumors, though some may remain skeptical given the timing of events.

The details

Sarandos says Netflix had already decided to bow out of the WBD bidding earlier on the day of his White House visit, as soon as WBD informed the company that Paramount's latest offer was superior. He argues that the president "stayed completely neutral" on the deal and that Netflix's lack of interest in acquiring CNN, which Trump had previously said should be sold, was a key factor in the decision.

  • Sarandos visited the White House on Thursday, March 1, 2026.
  • Netflix announced it was withdrawing from the WBD bidding shortly after Sarandos' White House visit.

The players

Ted Sarandos

The co-CEO of Netflix who says the company withdrew from the WBD bidding war due to price, not political considerations.

Larry Ellison

The co-owner of Paramount, which ultimately won the bidding for Warner Bros. Discovery.

David Ellison

The co-owner of Paramount, who attended the State of the Union address as the guest of Trump ally Senator Lindsey Graham.

Donald Trump

The former president who had previously stated it was "imperative that CNN be sold", which may have influenced the Paramount bid that included CNN's parent company WBD.

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What they’re saying

“I still believe in all the positives. I just believed in them up to $27.75 a share.”

— Ted Sarandos, Netflix co-CEO (Bloomberg)

“Things have been going exactly the way they should. The president stayed completely neutral on this.”

— Ted Sarandos, Netflix co-CEO (Business Insider)

What’s next

It remains to be seen if Netflix will pursue any other major acquisitions in the near future, as Sarandos indicated it was "unlikely" the company would try to buy something else in the next year or so.

The takeaway

While the timing of events has fueled speculation about political factors influencing Netflix's decision, Sarandos has firmly stated that price was the sole reason the company withdrew from the WBD bidding war. This could help quell concerns about the role of politics in the deal, though some may still be skeptical given the Ellisons' connections to Trump.