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Xbox reportedly turned down a $500 million deal from Netflix to adapt its video game properties

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Xbox reportedly turned down a $500 million deal from Netflix to adapt its video game properties

A new report states that Netflix was looking to adapt a host of Xbox properties for a $500 million deal, but Xbox turned the streaming company down in hopes of upping the number.

With video game adaptations to film and TV being all the rage lately, it's not shocking that major content producers like Netflix are seeking more adaptable material. According to some new reporting from Puck, Netflix reportedly sought a $500 million deal with Microsoft's Xbox for seven years of exclusive rights to adapt its full suite of properties for TV and film. Puck also reports that Xbox turned that deal down, trying to raise the asking price to $800 million, a number that seemingly caused Netflix to balk and walk away.

Puck's reporting also also suggests that a key factor was the involvement Bela Bajaria, Netflix's chief content officer, who exited the role earlier this month. The newsletter suggests that without Bajaria there to fight for the initiative, there was little appetite at Netflix for prolonged negotiation.

The proposed deal would have put the entire Xbox property catalog on the table for adaptations, including Halo, Gears of War, Fable, and more. It seems that Xbox values these properties at higher than Netflix was willing to pay, however, as the 60 percent increase in the proposed payment was reportedly too much for the streaming giant (Amazon and Warner Bros. have already respectively released adaptations of Fallout and Minecraft).

Related: EA closes Mass Effect, Dragon Age creator BioWare after 30 years of game development


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