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Netflix ‘still can’t see profit path’ for live sports

The Netflix logo is displayed at Netflix's Los Angeles headquarters (Photo by Mario Tama/Getty Images)

Ted Sarandos, co-chief executive and chief content officer of Netflix, has cooled talk that the streaming service is interested in investing in live sports rights and maintained that profitability from acquiring such rights remains challenging.

A report from the Wall Street Journal last month claimed that Netflix was taking a more serious look at sport and was considering taking stakes in competitions as well as acquiring streaming rights.

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