Ted Sarandos, chief content officer at Netflix, says the service won't be sending any of its films to the Cannes Film Festival this year after the festival instituted a rule requiring French theatrical distribution for festival entries.

"We want our films to be on fair ground with every other filmmaker," Sarandos tells Variety. "There's a risk in us going in this way and having our films and filmmakers treated disrespectfully at the festival. They've set the tone. I don't think it would be good for us to be there."

In another interview with Variety, Cannes' Artistic Director Thierry Fremaux says, "the door is not shut." Fremaux did select two Netflix titles Okja and The Meyerowitz Stories (New and Selected) for competition last year but faced a backlash from French exhibitors who are well-represented on the Festival's board.

The discussion between the Festival and the streaming giant may not be over. Stay with The 405 for more as we hear it.