Post by Netflix

Today we announced that we declined to raise our offer for Warner Bros. We believe that we would have been strong stewards of Warner Bros.’ iconic brands, and that our deal would have grown the entertainment industry while preserving and creating more production jobs in the United States. This transaction was always a ‘nice to have’ at the right price, not a ‘must have’ at any price. Netflix’s business is healthy, strong and growing organically, powered by our slate and best-in-class streaming service. We will continue to do what we’ve done for more than 20 years as a public company: delight our members, profitably grow our business, and drive long-term shareholder value.