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Netflix attempting $300 million business acquisition deal

One of the best ways for California businesses to continue growing and experience long-term success is to acquire other companies along the way. In business and commercial law, any business acquisitions a company makes can determine whether the company will continue to be successful over time. Acquisition moves can also be highly beneficial for the company being acquired. Netflix recently made a $300 million offer to acquire a California billboard company.

Netflix is attempting to purchase Regency Outdoor Advertising, a company that owns billboards all over Los Angeles and on the famous Sunset Strip. A billboard on Sunset Strip can cost $140,000 per month, so it seems that the deal may be able to save Netflix money in the long run. Regency Outdoor also has billboards at Los Angeles International Airport, near Los Angeles Angels baseball stadium and at other key locations.

Netflix, which started out as a streaming video company, has now expanded to become one of the largest film and television producers in the world. With a studio in Hollywood, it is important for Netflix to continue promoting its original shows and movies. Recently, Netflix used Regency Outdoor billboards to some of its hit television series including "Stranger Things" and "The Crown." However, Netflix is still number one in the streaming world, with 117.6 million streaming subscribers worldwide at the end of last year.

Last year, Netflix had its first major acquisition, comic book publisher Millarworld, and it is hoping that Regency Outdoor will be next. However, Netflix is reportedly not the only bidder trying to acquire Regency Outdoor. It is unclear at this time whether Netflix's offer will prevail.

Large-scale acquisition deals such as this often make the headlines due to the high-profile nature of the companies involved. However, even smaller businesses can profit from an acquisition deal. It is important that business owners understand their legal options, so they can make sound decisions regarding the future of their enterprises.

Source: Reuters, "Netflix offering more than $300 million for billboard company: sources," Liana B. Baker, Jessica Toonkel, April 6, 2018

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