Netflix’s Co-CEO Explains Why He Quit the Warner Bros. Fight

When Netflix Inc. dropped out of the bidding for Warner Bros. Discovery Inc. on Feb. 26, the news came as a surprise to many in Hollywood.

Netflix had agreed to buy Warner Bros.’ studios and HBO Max streaming business in December and co-Chief Executive Officer Ted Sarandos had done a string of press appearances and meetings talking about the deal, including at the White House.