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Would Netflix Make a Play for NBCUniversal Post Spin-Off? Why That’s Unlikely to Happen

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Would Netflix Make a Play for NBCUniversal Post Spin-Off? Why That’s Unlikely to Happen
Jun 30, 2026 1:23pm PT Would Netflix Make a Play for NBCUniversal Post Spin-Off? Why That’s Unlikely to Happen

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Todd Spangler

NY Digital Editor

xpangler See All NEW YORK CITY - JUNE 29: People walk by the Comcast building which houses NBC Studios in Manhattan on June 29, 2026 in New York City. Comcast announced Monday that it will spin off NBCUniversal and Sky next year, creating a new publicly traded company that would be separate from Comcast’s broadband distribution business. (Photo by Spencer Platt/Getty Images) Getty Images

Over an intense six-week period last fall, Netflix went from an initial phone call between co-CEO Ted Sarandos and Warner Bros. Discovery chief David Zaslav to sealing an $82.7 billion deal to buy Warner Bros.’ streaming and studios business. But even after being repeatedly rebuffed David Ellison refused to give up, and ultimately his Paramount Skydance outbid Netflix with an $111 billion offer for the entirety of WBD.

So the news Monday that Comcast plans to carve off NBCUniversal (together with Sky) as an independently traded entity immediately made people wonder: Would Netflix go back to the M&A trenches to try to win a deal for NBCU?

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