Netflix Co-CEO Greg Peters heavily downplayed recent speculation that the streaming giant could be interested in bidding on Warner Bros. Discovery.

“We come from a deep heritage of being builders rather than buyers,” the exec said during the Bloomberg Screentime conference in Los Angeles. “One should have a reasonable amount of skepticism around big media mergers. They don’t have an amazing track record over time.”

Paramount, fresh off its merger with Skydance Media, has looked in recent weeks at making an offer for Warner Bros. Discovery, though a bid has not yet materialized. That, in turn, has kicked off a round of speculation about other bidders who could be in the mix. Many Wall Streeters have pointed to the steep cost of WBD, including its heavy debt load, and wondered if anyone

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