Netflix Pursues Smaller Deals Like Letterboxd as Shares Hit $73.39

As of July 12, Netflix is pivoting toward modest strategic acquisitions after larger rumored deals failed to materialize. The company is now among bidders for Letterboxd, a 30-million-member platform valued near $250 million, and has agreed to buy Radford Studio Center with closing expected this quarter. This follows July 7 speculation that Comcast’s planned NBCUniversal spin-off could create future acquisition opportunities, though Netflix previously walked away from a Warner Bros. Discovery bidding war due to high costs. Shares have fallen more than 40% over the past year to $73.39, down from $76.46 on July 7, reflecting investor caution despite strong cash generation.