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Netflix's retro offer is life imitating art



NEW YORK – Netflix will go retro. The $ 125 billion company behind "Stranger Things" is one of several companies looking at a Los Angeles signage company, Regency Outdoor Advertising, reported Reuters on Friday, offering more than $ 300 million for it. Like Oscar winner Frances McDormand's character in "Three Billboards," Chief Executive Reed Hastings's goal may be to grab the attention of the right people.

In a way, the purchase would be an unusual move. Netflix does not make many acquisitions, at least in the classic sense. The company is more inclined to pay for talent and intellectual property. For example, he bought the comic publisher Millarworld for an undisclosed sum. According to The New York Times, the company is printing eye-popping deals like Twenty-First Century Fox's Ryan Gyle producer Ryan Murphy with a $ 300 million five-year contract.

The Regency owns billboards throughout the Southern California barebones website. But his signs at busy places like the Sunset Strip in Los Angeles ̵
1; the city of angels that corresponds to New York's Times Square – have probably attracted Netflix. It could use the billboards to promote its original programming such as "The Crown" in some of the most sensational parts of a city dominated by the film and television industry.

Owning storage may save Netflix a bit of marketing costs. But as they will rise more than 50 percent to $ 2 billion this year, analysts at MoffettNathanson say, there will be little financial gain. Avoid hindering competing studios from renting the space.

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The current Regency owners, the brothers Drake and Brian Kennedy, have been a colorful institution in the culture and politics LA since the 1970s. In the past, they were accused of corruption and involved in so many lawsuits Employees create a fake voicemail account for a Christmas party to ask callers to squeeze "one" or "two" if they sued or sued the Los Angeles Times. Simply making a show about these crazy siblings would be most sensible.

CONTEXT NEWS

– Netflix is ​​one of the potential bidders for Regency Outdoor Advertising, a Los Angeles poster, Reuters reports on April 6. Netflix Spends More Than 300 Million Dollars on the Company Owned by the Brothers Drake and Brian Kennedy

(Edited by Antony Currie and Amanda Gomez)

© Reuters News 2018


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