Netflix Co-CEO Sees Warner Split as Part of Broader ‘Shakeout’

Warner Bros. Discovery Inc.’s decision to split into two independent companies is a sign of a broader “shakeout” across a media industry that has become increasingly dominated by streaming and on-demand services, Netflix Inc. co-Chief Executive Officer Greg Peters said.

“Everything is moving to streaming — everything is moving to on demand,” Peters said Thursday in an interview with Bloomberg Editor-in-Chief John Micklethwait at the Founders Forum Global conference. “There’s going to be a period of shakeout and transition associated with that.”