If the shifting balance between Netflix, Paramount, and Warner Bros. Discovery were scripted for the big screen, the pivotal moment would not unfold in an explosion of spectacle, but in a calm, deliberate exchange of words. Not only that, but the character of Netflix co-CEO Ted Sarandos' two cents for Paramount would have been the most rewound clip of the flick.

Through the assurance of the executive who believes the future of a Hollywood institution can be both preserved and propelled forward, Netflix has made known what Paramount is set up against, and it is not mere competition. 

Only hours before Warner Bros. closes its gates of shifting powers once again, Paramount has received a boost from its very contender, of all motivations. 

While speaking to Deadline at the BAFTA Film Awards, Ted Sarandos addressed Paramount with a clarity that was less combative and more inviting. Netflix, he explained, has already signed its agreement with Warner Bros. Discovery and approached the studio with deep respect for its legacy. And that if Paramount intends to outbid the deal before regulatory approval is secured, Sarandos suggested there is a simple path forward.

"Just put a better deal on the table," the media executive declared. He continued, asking the company to maintain a level head and not "make up stories" about Netflix's shares and whatnot. 

Beyond the bidding language, Sarandos moved to reassure traditionalists concerned about theatrical identity. He emphasized that Warner Bros. Discovery films will continue to follow established release patterns, arriving in cinemas with customary 45-day exclusivity windows, as per Deadline. The studio’s $4 billion theatrical revenue from last year, he noted, is fully accounted for in the acquisition terms.

Speaking for Netflix, the executive expressed the streamer's sentiment averse to dismantling a proven system, and instead to support and scale it.

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Warner Bros., however, as if giving fodder to the widely divided opinions on the bid, has given a second chance to Netflix's possible outbidders. 

The plot was successfully thickened when Warner Bros. Discovery reopened its sales process, granting Paramount an opportunity to submit a revised and final bid. With a reported deadline of February 23, 2026, the renewed window injected renewed urgency into what was already a high-stakes contest. Although Netflix holds a signed agreement, the board continues to weigh its options.

What unfolds next could recalibrate the relationship between legacy studios and streaming giants. Netflix positions itself as both partner and custodian, promising stability while offering expansive reach. Ted Sarandos's remarks suggest composure rather than brinkmanship, even as regulatory review looms.

Paramount is now faced with a defining choice: escalate its offer or step back, or do nothing.

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What do you think of Ted Sarandos's words of advice for Paramount? Let us know in the comments!