Washington D.C.: US President Donald Trump has expressed concerns regarding the proposed nearly $83 billion acquisition of Hollywood studio Warner Bros by streaming giant Netflix, citing potential antitrust issues due to the resulting large market share.
Speaking upon his arrival at the Kennedy Center Honors awards ceremony, Mr. Trump stated that Netflix already commands “a very large market share” and that the deal “could be a problem.” The President also confirmed his intent to be involved in the regulatory decision process facing federal regulators, which is considering the massive merger that has raised alarm among Hollywood’s elite.
Despite his antitrust warning, Mr. Trump highly praised Netflix co-CEO Ted Sarandos, who recently visited the White House, saying, “he’s done one of the greatest jobs in the history of movies.”
If the deal is completed, Netflix would absorb the competing streaming platform HBO Max and the vast catalogue of Warner Bros. The combined entity would gain iconic franchises, including the Harry Potter films, the Lord of the Rings saga, and the superheroes of DC Studios (Batman, Superman, Wonder Woman), alongside film classics like Casablanca and Citizen Kane and recent blockbusters like Barbie.
Notably, the deal excludes Warner Bros. Discovery’s television channels like Discovery and CNN, which will be spun off prior to the sale. Warner Bros Discovery officially put itself up for sale after receiving unsolicited offers, ultimately choosing Netflix over rivals like cable operator Comcast and media group Paramount Skydance, whose chief, David Ellison, is a major backer of President Trump. The US unions have also voiced their alarm over the transaction.
