FOR IMMEDIATE RELEASE [5/12/2017] :
Alphabet (Google) has offered $180/shr for Netflix in a 1/2 cash 1/2 share buyout.
Netflix will join YouTube in Alphabet’s (Google’s) growing media powerhouse. Details of the deal were not available as of this writing. However, Alphabet’s bank account, (GOOG: Marketwatch) can more than deal with the purchase. NFLX CEO Reed Hastings remarked, “With Google’s, I mean Alphabet’s, introduction of their ChromeView — [their television plus intelligent agent set-top box] — Netflix will have even better domestic and growing world-wide exposure. I look forward to working with that team creating vivid and engaging content, both for our flagship Netflix platform as well as the quirky but wildly popular YouTube channel venue.”
Officers at Alphabet were unavailable for comment, but a quick tweet from CEO Larry Page “A natural fit: Netflix and Google” and positive remarks from Sundar Pichai seem to indicate that the deal will succeed. Anti-trust sources at the DOJ were also unavailable for comment.
“Stuff” will always be somewhat necessary. But “Content” is King.