Netflix Pursues Lionsgate Following Loss in Roku Negotiations

WHO:

Coming Soon - Netflix is the streaming service company involved in the potential acquisition of Lionsgate.

NY Post - Netflix is known for popular shows such as "Stranger Things," "Bridgerton," and "The Crown."

WHAT:

Deadline - Netflix denied pursuing Lionsgate, stating, “Netflix is not interested and is not pursuing Lionsgate.”

Yahoo Finance - Netflix's stock dropped nearly 4% following news of Fox's acquisition of Roku and reports that Netflix attempted to buy Roku but was rebuffed, with its bid reportedly below Fox's $160-per-share offer.

Fox News - Fox is purchasing Roku in a $22 billion deal, with the transaction expected to close in the first half of 2027.

Fox News - Fox will pay $96 in cash and 0.9693 shares of its Class A common stock for all outstanding Class A and B shares of Roku.

Fox News - The deal is expected to generate $400 million in “run-rate cost synergies” and create an entity with net leverage of “approximately 2.8x.”

Deadline - Shares of Lionsgate surged 14% on merger speculation before falling after-hours as Netflix denied pursuing Lionsgate, stating, “Netflix is not interested and is not pursuing Lionsgate.”

Coming Soon - Netflix is interested in purchasing Lionsgate Studios.

NY Post - Netflix has shifted its strategy to pursue large acquisitions after previously preferring to build rather than expand through purchases.

WHERE:

Coming Soon - The potential acquisition involves Lionsgate Studios, a significant player in the entertainment industry.

WHEN:

Yahoo Finance - The deal for Fox's acquisition of Roku is anticipated to close in the first half of next year.

Fox News - The specific date targeted for the closing of the Paramount and Warner Bros. Discovery merger is Wednesday, July 15.

Deadline - Lionsgate Studios separated from Starz in May of 2025, positioning both companies as standalone entities.

NY Post - Netflix's strategic shift towards acquisitions follows its recent loss in negotiations with Fox regarding a deal with Roku.

WHY:

Yahoo Finance - Netflix's stock decline was attributed to the acquisition of Roku by Fox, which left Netflix "in the cold."

Fox News - The merger of Paramount and Warner Bros. Discovery is expected to allow Paramount to own both CBS Sports and TNT Sports before preparing for their fall slate of sports broadcasts.

Coming Soon - The interest in acquiring Lionsgate comes after Netflix missed out on merging with Warner Bros. Discovery and pursuing a deal with Roku.

HOW:

NY Post - Netflix is increasingly participating in the marketplace for large deals, indicating a change in its business approach.

(UPDATED June 17, 2026 19:43 UTC)

Netflix has officially stated that it is not interested in pursuing Lionsgate, a move that comes as the company faces challenges in the market. Following news of Fox's acquisition of Roku, which is expected to close in the first half of next year, Netflix's stock dropped nearly four percent, as reports indicated that Netflix's bid for Roku was below Fox's $160-per-share offer. This situation has left Netflix feeling sidelined in the competitive landscape of streaming services.

(UPDATED June 17, 2026 08:46 UTC)

Netflix's stock took a hit, dropping nearly 4% after news broke about Fox's acquisition of Roku. Reports indicate that Netflix had attempted to buy Roku but was turned down, with its bid falling short of Fox's $160-per-share offer. This development has raised eyebrows in the streaming industry as companies continue to jockey for position.

(UPDATED June 17, 2026 06:42 UTC)

In a significant move, Fox is set to acquire Roku in a massive $22 billion deal, which is expected to close in the first half of 2027. As part of the agreement, Fox will pay $96 in cash along with 0.9693 shares of its Class A common stock for all outstanding shares of Roku. Meanwhile, the merger between Paramount and Warner Bros. Discovery is targeted to close on Wednesday, July 15, allowing Paramount to take ownership of CBS Sports and TNT Sports just in time for the upcoming fall sports broadcasts.

(UPDATED June 17, 2026 04:25 UTC)

Shares of Lionsgate surged by 14% on merger speculation but fell in after-hours trading after Netflix denied any interest in pursuing the company, stating, “Netflix is not interested and is not pursuing Lionsgate.” This comes after Lionsgate Studios separated from Starz in May of 2025, allowing both companies to operate as standalone entities. The recent market activity highlights the volatility surrounding potential mergers in the entertainment industry.

(UPDATED June 16, 2026 23:28 UTC)

Netflix is reportedly interested in acquiring Lionsgate Studios, a significant player in the entertainment industry, as part of a strategic shift towards large acquisitions. This change comes after Netflix missed out on a merger with Warner Bros. Discovery and a deal with Roku, following a recent loss in negotiations with Fox. Known for hit shows like "Stranger Things," "Bridgerton," and "The Crown," Netflix is moving away from its previous strategy of building rather than expanding through purchases.