The industry has been shocked as of late by reports that both Paramount and Netflix may have been considering buying Warner Bros. Discovery. It appeared to be an impending battle between the old-school and the streaming business models of entertainment. However, one of the alleged planned bids was seemingly just a rumor.

Netflix CEO Greg Peters has ambiguously debunked the reports that Netflix is hoping to buy out Warner Bros. Interviewed at the Bloomberg Screentime conference on Wednesday evening, Peters stated:

We come from a deep heritage of being builders rather than buyers. I also think that one should have a reasonable amount of skepticism around big media mergers, they don’t have an amazing track record over the history of time.

However, Peters’ response suggested that Netflix is always looking for ways to adapt in an extremely compeтιтive market. “I would say it’s our responsibility to evaluate all our options,” Peters said. “Our job is to figure out what’s the best way to grow our business? And we have to think really carefully, how do we invest our capital, our time and our attention […].“

The reports that Netflix was looking to buy Warner Bros. came from an insider reporting to Puck that the streaming giant was considering a bid, which Puck‘s Dylan Byers speculated was spurred on by Paramount CEO David Ellison’s ambition to buy the entire legacy studio. This summer, Warner Bros. made history with a streak of $40+ openings, making it an even more in-demand ᴀsset, if possible.

While Warner Bros. is one of the oldest insтιтutions in Hollywood, Netflix is the business that entirely upended the industry by kicking off the streaming era, starting with adult hits like Orange Is the New Black and House of Cards, but becoming a true phenomenon with Stranger Things. With other major companies merging, it wouldn’t be surprising if Netflix went down the same path.

Despite Peters reporting Netflix’s hesitation towards mergers, the CEO suggests that the platform is having a more difficult time than in years past, when streaming was a novelty. Peters also said: “I’m not happy with the fact that we’re not growing engagement. We should grow more engagement.” One way to do this could be acquiring Warner Bros.’ library of fan-favorite content.

With the rise of other streaming platforms, which are all managing to produce their own relatively successful originals, executives like those at Netflix are having to think creatively. Growing problems with streaming this decade have been widely noted, namely concerning the quality of such productions, when it is largely a race to provide the most new content.

Thus, investing in the processes of original content production at Warner Bros. may help Netflix in the future. However, the biggest corporations in entertainment further consolidating come with additional risks, potentially diminishing the variety of cinematic art. Netflix is apparently not planning on bidding on Warner Bros. right now, but future challenges may push it to a business decision like this.