Netflix To Reportedly Pay Up To $600M For Ben Affleck’s InterPositive

The actual price, paid in cash, was less, a Bloomberg News report said.

• InterPositive’s owners will earn even more if it meets certain performance targets, as per the report. 
• Netflix last week announced that it is buying InterPositive, without disclosing the deal value. 
• As part of the deal, Netflix had said that it is bringing InterPositive’s entire team into Netflix. 

Netflix reportedly will pay as much as $600 million for AI moviemaking firm InterPositive from Hollywood star Ben Affleck. 

The actual price, paid in cash, was less, a Bloomberg News report said, citing people familiar with the matter. InterPositive’s owners will earn even more if it meets certain performance targets. 

The startup has developed a suite of tools that allow filmmakers to alter existing footage. David Fincher has already used the products on an upcoming film starring Brad Pitt, the report said. 

Deal 

Netflix last week announced that it is buying InterPositive. The acquisition is also one of the largest AI deals by a major Hollywood studio. 

Netflix during the announcement did not disclose the value of the deal. As part of the deal, Netflix had said that it is bringing InterPositive’s entire team into Netflix through this acquisition, and Affleck will join as Senior Advisor. 

“Our approach to AI has always been focused on meaningfully serving the needs of the creative community and our members. The InterPositive team is joining Netflix because of our shared belief that innovation should empower storytellers, not replace them,” said Elizabeth Stone, Netflix Chief Product and Technology Officer. 

Deal After Failed WBD Bid

The deal came after Netflix’s months-long pursuit to buy Warner Bros. Discovery which ultimately failed. Netflix decided to step away from its pursuit and did not increase its offer to match Paramount’s rival offer of $111 billion. 

The deal attracted a lot of scrutiny from regulators as well as attorneys general across the U.S. as they feared the merger of WBD with Netflix will create a monopoly in the streaming industry. 

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