close Netflix backs out of bid to buy Warner Bros 'Special Report' executive editor Bret Baier has the latest on Netflix dropping its bid to buy Warner Bros. When Netflix announced it intended to buy Warner Bros. Pictures, there was widespread concern that the streaming service giant would permanently alter the legendary studio. While many Netflix executives, including CEO Ted Sarandos, claimed that they wouldn't make such changes, it seemed clear what their interest in Warner Bros. came to.