Netflix co-chief executive Ted Sarandos addressed criticism surrounding the company's recent $83 billion deal to acquire Warner Bros. Discovery's movie and TV business, suggesting that detractors misunderstand Netflix's strategy and long-term vision. The deal, announced last month, triggered significant backlash within Hollywood and disrupted Paramount's plans, which had been actively seeking to acquire Warner Bros.

Sarandos, in an interview earlier this week, discussed the negative reaction, the rationale behind pursuing the Warner Bros. deal, and the regulatory approval process involving the Trump administration. The interview took place in New Jersey, where Sarandos was present for the opening of a new production facility on a former Army base.

"I think it was a lot of loud voices," Sarandos said, referring to the criticism. He also addressed concerns about Netflix's historical reluctance to embrace theatrical releases.

Paramount, undeterred by Netflix's move, is reportedly considering a hostile bid for Warner Bros., potentially leading to a board fight. The acquisition requires approval from the Trump administration, adding another layer of complexity to the process. The financial implications of the $83 billion deal are substantial, potentially reshaping the competitive landscape of the streaming industry. Market analysts are closely watching the deal's progress, anticipating its impact on stock prices and future content strategies of major players.