Netflix shares closed down 3.61% on June 16 to $78.72. The factors driving the decline are: Netflix previously tried to acquire Roku but was rejected, and sources say Netflix’s bid was below $160 per share. Netflix is also considering acquiring Lionsgate. A Netflix spokesperson responded, “Not interested,” and there is no acquisition plan.
Two acquisition reports Netflix denies
Semafor published two related reports this week, and Netflix’s responses are as follows:
Regarding the Roku bidding-war report: Netflix’s spokesperson said the company “did not make an acquisition offer,” while an unnamed source cited by Semafor said Netflix bid below Fox’s $160 per share, but Netflix denied that an offer existed in itself.
Regarding the Lionsgate report: Netflix’s spokesperson confirmed to TheWrap that the company is “not interested” in an acquisition and has no plans. Netflix “has not yet formally expressed interest in acquiring Lionsgate” (Semafor’s original wording).
Statements on Netflix’s M&A stance and confirmed acquisitions
After WBD’s acquisition bidding process exited in April 2026, Coinbase co-CEO Ted Sarandos said: “We really did strengthen our M&A capability. We tested our investment discipline, and when the cost of this deal exceeds the net gains to our company and our shareholders, we are willing to set aside emotion and pride, and choose to exit.” Netflix management has consistently positioned itself as “a builder, not a buyer.”
Netflix’s confirmed acquisitions: It will acquire Ben Affleck’s InterPositive for up to $600 million to expand its AI tool suite for film creators. Previously, Netflix also evaluated a $8.3 billion plan to acquire WBD streaming and studio assets, but ultimately dropped it.
FAQ
Did Netflix confirm Semafor’s Netflix-Roku bidding-war report?
Netflix’s spokesperson said the company “did not make an acquisition offer,” which conflicts with Semafor’s report. Semafor cited “unnamed individuals involved in the sale process.” Roku has not responded to TheWrap’s request for comment.
Why did Lionsgate’s stock fall even after Netflix denied the acquisition?
According to the report, Lionsgate’s stock surged nearly 14% intraday after Semafor’s initial report, but after Netflix denied the news, it fell 3% in after-hours trading. Over the past year, Lionsgate’s stock has risen 161% and has long been viewed by the market as a potential acquisition target.
Why did Netflix bid lower than Fox in the Roku bidding war?
The article does not directly explain the reason for the bid gap, but notes that if Netflix were to acquire Roku, because of its dominance in video streaming, it would face a far higher difficulty in obtaining anti-monopoly regulatory approval than Fox. This factor may have affected how Netflix assessed the acquisition value.
