Hank Greenberg Predicts Facebook Will Buy Netflix

Dec 1, 2011
J. Webster
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CNBC’s Hank Greenberg rolled out his 2012 predictions and his last one was quite a doozy: Facebook will buy Netflix. Why? Well one reason he gives is Netflix CEO Reed Hastings sits on Facebook’s board of directors. It’s not out of the realm of possibilities, but surely a reach.

Even though Netflix’s market capitalization is $3.53 billion as I write this, it seems far fetched the more you think about it. Although with Facebook set IPO in the next six months, they would have the money for acquisitions. In the end though, this seems more like a pray, who wants to own Netflix, as costs for content continue to rise. And Mark Zuckerberg is nerd like focused on building the Facebook platform so other companies can pay him a cut of the profits if they want to run their music or movie or game platforms on the Facebook platform. Facebook doesn’t need Netflix. Netflix needs Facebook.

You never know though, the more shares of Netflix fall the more companies like a Facebook or an Apple or a Microsoft will be to buy the once high flyer.

What’s funny though is Netflix’s stock jump $2 a share on the Greenberg prediction.

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