Netflix co-CEO Ted Sarandos extended an olive branch to theater owners on Monday after rival David Ellison and his mega billionaire father, Larry Ellison, launched a $108.4 billion hostile bid that could derail the streamer’s $82.7 billion deal to buy Warner Bros. , home of one of the few remaining iconic Hollywood movie studios.

Speaking at an investor’s conference Monday in New York City, Sarandos made it clear that Warner Bros. will remain in the business of releasing movies theatrically (conversely, original films made for Netflix will stick to their gameplan). “We have not talked a lot about in the past about wanting to do theatrical, because we’ve never been in that business. When this deal closes, we be will in, and we’re going to do it,” said Sarandos, indicating that all o

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