Netflix denies report that it’s eyeing Lionsgate – Business News
Netflix is denying a report that it’s interested by shopping for Lionsgate — the film studio behind the “John Wick” and “Hunger Games” franchises — after it purportedly misplaced out on buying streaming giant Roku to Fox Corp.
Semafor reported Tuesday that Netflix is one of a quantity of media firms eyeing Lionsgate, although the Los Gatos, Calif.-based firm has not put in a formal indication of curiosity but. Shares of Lionsgate jumped practically 11% in noon trading.
But the streaming giant denied it has any such curiosity in a assertion to The Post.
“Netflix is not interested and is not pursuing Lionsgate,” a rep stated.
Netflix boss Ted Sarandos. Getty Images for Netflix
To date, Netflix, home to “Stranger Things,” “Bridgerton” and “The Crown,” has most well-liked to grow from within reasonably than develop via massive acquisitions.
A rep for Netflix stated the streamer “did not put in a formal bid for Roku.”
Fox Corp. CEO Lachlan Murdoch introduced Monday that the company was buying Roku for about $22 billion. Fox Corp. is sister company to The Post’s company guardian News Corp.
Lionsgate, home to the “John Wick” and “Hunger Games” film franchises, is reportedly drawing curiosity from potential consumers. Getty Images for Lionsgate Studios Yonkers
Neflix, in the meantime, produces unique exhibits and movies and competes with the most important channels accessible on Roku, like Disney’s streamers and Comcast’s Peacock, sources famous.
Fox CEO Lachlan Murdoch stated Monday that his company will purchase Roku for $22 billion. FOX Image Collection through Getty Images
In the previous, Netflix co-CEO Ted Sarandos has described the company’s strategy to M&A as “disciplined.”
Netflix had expressed curiosity in shopping for Roku, in keeping with Semafor. ZUMAPRESS.com
It declined to raise its $82.7 billion offer to buy Warner Bros. Discovery in February, dropping a protracted bidding warfare to Paramount Skydance, which supplied $110 billion.
In Netflix’s earnings call in April, Sarandos stated during the pursuit of WBD, “We really built our M&A muscle.”
“We’ve learned so much about deal execution, about early integration,” he added.
