Will Netflix pursue a large-scale media M&A play? Don’t bet on it.

Greg Peters , co-CEO of Netflix, downplayed the company’s desire to grow through a major acquisition, speaking Wednesday evening at the Bloomberg Screentime conference in L.A. Peters was asked by moderator Lucas Shaw, Bloomberg’s managing editor, media and entertainment, if there was any truth to rumors that Netflix was interested in making a bid for Warner Bros. Discovery.

“I would say this: We come from a deep heritage of being builders rather than buyers,” Peters responded. He continued, “One should have a reasonable amount of skepticism around big media mergers — they don’t have an amazing track record over time.”

“Our job is to figure out, what is the best way to grow our business?” Peters said. If a major acquis

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