Netflix shares fell 3.6% on Tuesday following speculation regarding potential acquisitions. A company spokesperson officially denied interest in acquiring Lionsgate. The streaming giant confirmed it had not submitted a formal bid for the studio.
Lionsgate stock jumped nearly 14% prior to the official denial. Reports also clarified that Netflix did not bid for Roku before its $22 billion deal with Fox was announced.
Market reactions reflect investor sensitivity to Netflix's M&A strategy after its earlier unsuccessful offer for Warner Bros. Discovery assets. The company's statement shifts focus back to organic growth and content strategy.