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Final month, the deal that was presupposed to reshape Hollywood fell aside. 

After a protracted, extremely seen bidding conflict for Warner Bros. Discovery, Netflix in the end walked away from the tie-up, forcing Paramount to pay $110 billion for the asset and fork over a $2.8 billion break-up price to Netflix.

Now, with money in hand, its inventory worth rising, and entry to an already formidable conflict chest, the true query is what comes subsequent for the streamer.

The straightforward reply is nothing. Netflix is probably the most worthwhile firm in streaming, having generated roughly $13 billion in working revenue final yr. It has greater than 325 million subscribers and no pressing issues to unravel. Plus, based on Oaklins DeSilva+Phillips senior advisor Erica Gruene, the historical past of main media offers just isn’t precisely an commercial for doing them. 

“If you happen to take a look at the historical past of media transactions, it’s mainly a warning in opposition to it,” Gruene stated. “They usually destroy much more worth than they create.”