Reed Hastings to exit as Netflix chief after 29 years, months after WB deal fell through

Netflix Chairman Reed Hastings is exiting the streaming platform he co-founded 29 years ago, months after a merger with Warner Bros Discovery fell through. Netflix said Hastings plans to focus on philanthropy and other pursuits. The 65-year-old was responsible for transforming Netflix from a DVDs-by-mail business to a global streaming giant, with his exit news crashing Netflix shares by 9%.