Dawn Chmielewski

We have to guard the country.

Netflix knew there would come a day when the studios would start clawing back their own movies and characters to build competing services.

So Netflix has sort of been trying to build out its own library of owned content, creating franchises in the classic Hollywood mold.

You know, stories that appear on screen, that can become sequels or spinoff series and generate merchandise sales, and maybe even theme park attractions.

We have enormous hits like K-pop Demon Hunters, which

seemingly came out of nowhere and became the most watched movie of all time on its service.

But like everyone in Hollywood, Netflix has had its share of failures.

One of these experiments is Electric State.

So Netflix brought in Joe and Anthony Russo, who were the

the creative duo behind Walt Disney's Avengers movies and also a hit on Netflix called Extraction.

It starred Millie Bobby Brown, who's Netflix's breakout character from the Stranger Things franchise, alongside Hollywood A-lister Chris Pratt.

So it looked like it was set for greatness.

And Netflix spent a bundle of money on this, $320 million.

And it was laying plans for sequels

In spinoffs, the film premiered to a critical drubbing and all of those plans went away.

This was a fairly prominent flop on their part.

It just shows creating franchises isn't exactly easy work.

It's a $31 share offer, which is up from the original $30 offer.

But there were a number of terms that Paramount incorporated to demonstrate its confidence in closing the deal.

For example, it agreed to pay Warner Brothers a $7 billion fee if it fails to gain regulatory approval for this deal.