Xbox IP Netflix Deal: $500M Offer Rejected [Confirmed]

According to verified reports from GamesIndustry.biz published on October 26, 2026, Netflix reportedly offered Microsoft five hundred million dollars over a seven-year period to license elite Xbox intellectual property for upcoming film and television adaptations. Industry publication Puck revealed that Xbox executives, including Asha Sharma, turned down the massive pitch and countered with an $800 million valuation. Following the departure of Netflix's chief content officer Bela Bajaria, who originally spearheaded the negotiations and has since been replaced by former Disney and Fox executive Peter Rice, the multi-million dollar agreement was entirely withdrawn. Xbox is now pivoting toward smaller, targeted licensing partnerships with additional media companies. Although Netflix declined to comment on the negotiations, Microsoft issued an official statement highlighting record-breaking interest in their franchise portfolio. They emphasized that Netflix remains a valued collaborator for upcoming projects such as the anticipated Minecraft and Diablo animated series. Furthermore, Xbox recently established the XP transmedia division led by Mojang Studios president Kayleen Walters to oversee future film, television, and theme park expansions. As hardware innovation continues to shape the ecosystem—much like breakthroughs seen in recent tech hardware leaks such as the [Xiaomi 18 Leak: Snapdragon 8 Elite Chip & 7000mAh Battery [Leak]](/news/xiaomi-18-specs-leak-snapdragon-chip)—Microsoft's multi-platform media strategy aims to scale communities globally while maintaining tight proprietary control over its premier gaming assets.