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Netflix takeover of Warner Bros meets fierce backlash
The Observer
|December 07, 2025
Any list of epically bad business decisions should include John Antioco, then chief executive of DVD rental giant Blockbuster, turning down the chance to buy Netflix for $50m in September 2000, saying “the dotcom hysteria is completely overblown”.
Blockbuster’s business has vanished. Netflix is now an online content-streaming behemoth worth $425bn. On Friday, it announced an $83bn takeover of Warner Brothers, the Hollywood studio that made Casablanca, The Godfather, Blade Runner and the Harry Potter films for the big screen and hit TV series such as Friends and Game of Thrones.
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