President Trump Weighs In On Major Streaming Merger Plans
A proposed merger between Netflix and Warner Bros. Discovery is currently under consideration. The deal, valued at over $82 billion, would give Netflix access to Warner Bros. Pictures’ film archive and HBO Max. This merger would not include cable networks such as CNN and TNT.
The deal’s prospects for approval are uncertain, with President Donald Trump expressing skepticism due to the significant market share the combined company would hold. Trump has stated that he will consult with economists and be involved in the decision-making process.
Netflix, with over 300 million subscribers, is currently the leading streaming service, while Warner Bros.’ HBO Max ranks slightly lower. The company’s market share is expected to increase substantially if the merger is approved.
The merger will require approval from the Department of Justice’s antitrust division, as well as the European Commission and other governments worldwide. Netflix co-CEO Ted Sarandos met with President Trump in November to discuss the potential deal, and Trump has confirmed that the meeting took place.
The deal has also drawn scrutiny from Senator Elizabeth Warren, who has expressed concerns about the potential impact on competition. Netflix is expected to argue that it competes with Google’s YouTube for market share, which is often ranked as the most-used streaming app by US consumers.