How Netflix Could Eventually Stop Losing Money
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While you spent the holidays streaming “Bird Box,” “Black Mirror: Bandersnatch” and/or re-watching “The Office” for the hundredth time, Netflix Inc. was playing out a corporate drama of its own—poaching Activision Blizzard Inc. Chief Financial Officer Spencer Neumann to be its new CFO.
Just before the news emerged, Activision abruptly announced that it would fire Neumann, who had agreed to a provision that barred him from negotiating for a new job until the last six months of his contract. It was a clear sign that Neumann wasn’t willing to pass up a chance to work at Netflix, this era’s preeminent high-flying, money-burning media company.