Trump Concerned Over Netflix and Warner Bros Deal

Key Takeaways

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Netflix has acquired Warner Bros for $82.7 billion, gaining control over franchises like Harry Potter, Game of Thrones, DC Comics, and Batman: Arkham.
The acquisition faces antitrust scrutiny and skepticism from multiple sources, including President Trump, film producers, and Senators Elizabeth Warren, Bernie Sanders, and Richard Blumenthal.
Netflix aims to secure long-term rights for popular shows and movies, reduce reliance on other studios, and expand into gaming with this acquisition.
If the merger between Netflix and HBO Max/Discovery goes through, it would create one of the largest media conglomerates in Hollywood history, combining over 250 million subscribers.

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Acquisition of Warner Bros by Netflix Raises Competitive Concerns, Trump Expresses Reservations

Following a heated bidding war, Netflix has acquired Warner Bros., including its TV and movie studios, streaming division (including HBO Max), and Warner Bros. Games for $82.7 billion. The deal gives Netflix control of franchises like Harry Potter, Game of Thrones, DC Comics, Mortal Kombat, and Batman: Arkham. The acquisition, announced on December 5th, has already drawn scrutiny. President Trump commented last Sunday that the deal “could become an issue” given the companies’ combined market share, adding, “When they get Warner Bros., that share will go up immensely.” He also stated he intends to consult with economists before making a final decision. Bloomberg reported that Netflix CEO Ted Sarandos visited Trump at the White House in November to discuss the deal prior to its public announcement. Trump confirmed the meeting, calling Sarandos “fantastic,” and Bloomberg added that Sarandos left with the impression that the White House would not oppose the deal.

Merger of Netflix and Warner Bros Faces Antitrust Scrutiny and Skepticism from Multiple Sources

Netflix aims to secure long-term rights for popular shows and movies and reduce its reliance on other studios as it expands into gaming. One strategy Netflix may use to justify the acquisition involves comparing itself to other popular pastimes like YouTube, rather than solely to other video streaming services, particularly given its more than 300 million subscribers. The merger has faced further skepticism. An anonymous group sent a letter to Congress urging them to publicly oppose Netflix’s offer. A group of film producers also wrote to Congress, expressing concerns that a Netflix-Warner Bros. Discovery partnership could harm the theatrical movie business. Senators Elizabeth Warren, Bernie Sanders, and Richard Blumenthal have voiced concerns as well, suggesting the deal may face antitrust scrutiny. Netflix bid nearly $28 per share to secure the deal, surpassing an almost $24 bid from Paramount Skydance, which had previously been considered the frontrunner. David Ellison, leading Paramount, questioned the selling process this week after submitting a $30-per-share bid for Warner Bros. Discovery.

Merger of Netflix and HBO Max/Discovery – A Potential Blockbuster in Hollywood History

The deal, which would combine HBO Max/Discovery’s approximately 128 million subscribers with Netflix’s existing user base, is valued higher than Warner Bros.’ market value of $60 billion, marking one of the largest mergers in Hollywood history.

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