Hastings sees no need for Netflix to be acquired

11/18/2012 | Wall Street Journal, The

Netflix CEO Reed Hastings is opposed to any acquisition of his company, including such a proposal from activist investor Carl Icahn, who owns nearly 10% of Netflix's shares. "We think we can make it in the long term absolutely on our own -- we've been doing that for 10 years," Hastings said Friday after meeting with Icahn in New York. Icahn responded, "There's a basic philosophical difference here. I believe the shareholders, the rightful owners of the company, should decide whether a company should be sold, not the management."

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