Netflix's co-CEOs found themselves in an unusual position after the ​company's latest earnings report: on the backfoot.

Days after telling the New York Times that Netflix would commit to a 45-day theatrical window after its acquisition of Warner Bros, the streamer’s co-CEO Ted Sarandos reiterated that pro-cinema message on a Q4 earnings YouTube video this afternoon.

The streamer's co-CEO Ted Sarandos is now promising 45-day windows for Warner Bros.' films should its acquisition be completed.

Netflix Inc. (NFLX) co-chief executive Ted Sarandos is planning to testify in February in front of a U.S. Senate committee that is scrutinizing the company's $82.7B deal for the streaming and studio assets of Warner Bros.

Shares of Netflix tanked more than 5% in premarket trading on Wednesday as its initial outlook for 2026 fell shy of analyst forecasts. Netflix sees 2026 sales growth of 12% to 14%, short of the "whisper numbers" of 16% that circulated ahead of the report.

The last decade in the stock market has been dominated by two distinct eras. From 2015 to 2019, "FAANG stocks" were all the rage. The elite crew of Facebook (now Meta), Amazon, Apple, Netflix, and Google (now Alphabet) represented the big winners of the mobile and cloud-computing explosion.

Netflix stock, already down 15% since the announcement of the Warner Bros. bid, fell further after the company announced it would pause stock buybacks.

Netflix is now offering to buy Warner Bros. Discovery’s studio and streaming business in all cash — in an effort to win over the Hollywood giant's shareholders for its $72 billion merger and potentially thwart a hostile bid from Skydance-owned Paramount.