Netflix sought $500M Xbox IP deal; Xbox asked $800M
Netflix reportedly offered Microsoft $500 million over seven years for Xbox film and TV rights, and the deal was withdrawn after Bela Bajaria left Netflix.
Netflix reportedly offered Microsoft $500 million over seven years to license Xbox intellectual property for film and television adaptations, according to gamesindustry.biz citing a Puck report. Xbox executives, including Asha Sharma, reportedly declined the offer and asked for $800 million instead.
The offer was reportedly made by Netflix's former chief content officer, Bela Bajaria. Following her departure from the company, the deal has reportedly been withdrawn.
Xbox is now pursuing smaller deals with additional partners, Puck reported. Netflix declined to comment, while Xbox said it has received record-breaking interest in its IP.
XP division and the wider reset
Earlier this month, Xbox announced its XP division to deliver transmedia spinoffs spanning film, TV and theme parks. The unit is led by Kayleen Walters, current president of Mojang Studios, the studio behind Minecraft.
The Xbox reset has seen the loss of around 3,200 jobs and the divestment of five studios, including Arkane Lyon. Microsoft extended the consultation period by one month to seek a buyer for Arkane Lyon, which is developing Marvel's Blade. Bajaria was replaced at Netflix by former Disney and Fox executive Peter Rice.
Quick answers
How much did Netflix offer Microsoft for Xbox IP?
Netflix reportedly offered $500 million over seven years to license Xbox IP for film and television adaptations.
Why was the Netflix-Xbox deal withdrawn?
According to Puck, Xbox asked for $800 million instead, and the offer was withdrawn following the departure of Netflix's former chief content officer Bela Bajaria.