How to Fix Netflix
One disgruntled analyst charts a path to recovery.
Wedbush Securities' Michael Pachter has been perhaps Netflix's chief critic among a chorus of those questioning the company's recent moves. The analyst sparked a mini-feud in late November by calling Netflix's decision to raise $400 million via debt and a stock deal "bad to the point of desperation" and sizing up the company's outlook starkly: "Their revenues are insufficient to provide enough cash to pay for their planned content acquisition costs." Netflix even shot back with a statement saying the company "has no cash or liquidity needs" and is simply raising capital because "it's always nice to have more money than you need." As Pachter has no trouble asking pointed questions of execs, The Hollywood Reporter turned the tables and pointedly asked him what Netflix CEO Reed Hastings should do to get the company back on track.
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