Media Companies Make an About-Face on Netflix

'If you can't beat 'em, join 'em'

Media firms, which have long considered a Netflix a major threat in the war against cord cutting, are singing a different tune—publicly, at least.

CBS Chief Executive Les Moonves, who said last September that his company was “trying to see what Netflix is,” has made a 180 turn on the issue: “Gee, it's great to be in business with them and they are terrific,” he said in an earnings call last week. Meanwhile, Time Warner chief executive Jeff Bewkes called Netflix “a welcome addition” and said last week that he had a “fondness” for the company, whereas he had once compared it to “a small Albanian army unlikely to conquer the world.”

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