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Netflix CEO Makes Major Concession in Battle for Warner Bros.

Netflix co-CEO Ted Sarandos says Warner Bros. films will keep a 45-day theatrical exclusivity window after acquisition, preserving billions in box office revenue, he told The New York Times.

  • On Friday, Netflix co-CEO Ted Sarandos pledged a 45-day theatrical exclusivity window in a New York Times interview, tying it to Netflix's $82.7 billion acquisition of Warner Bros.
  • After reviewing Warner Bros.' books, Netflix concluded theatrical economics were stronger than modeled and said the theatrical distribution engine "produces billions of dollars of theatrical revenue" it does not want to risk.
  • Sarandos pushed back on past phrasing by saying Netflix released about 30 films this year and `My pushback has been mostly in the fact of the long, exclusive windows that we don't think are that user friendly`.
  • The pledge soothed exhibitors' fears that had erupted after acquisition rumors, with Sarandos' commitment welcoming relief for theater owners and Warner Bros. film chiefs Mike De Luca and Pam Abdy.
  • Looking to the far future, the deal could influence major 2027 releases like James Gunn's Man of Tomorrow and The Lord of the Rings: The Hunt for Gollum , with Netflix and Warner Bros. planning more joint releases.
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The Wrap broke the news in United States on Friday, January 16, 2026.
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