Netflix Eyes Lionsgate Studios After Losing $22 Billion Roku Deal
Updated
Updated · Semafor · Jun 16
Netflix Eyes Lionsgate Studios After Losing $22 Billion Roku Deal
3 articles · Updated · Semafor · Jun 16
Summary
Netflix is among several media companies exploring a Lionsgate Studios acquisition, though it has not yet submitted a formal indication of interest.
Ted Sarandos said Netflix’s failed pursuit of Warner Bros. Discovery built its “M&A muscle,” helping push the company deeper into large-scale dealmaking despite its long-stated preference to build rather than buy.
Fox beat Netflix in the Roku process with a $22 billion cash-and-stock offer, while people familiar with the matter said a Netflix-Roku tie-up likely faced tougher antitrust scrutiny and may have fallen short on price.
Media M&A has been rising since 2024, and Netflix’s recent pursuits suggest it is staying active in industry consolidation while remaining disciplined on valuation.