Consumer Class-Action Filed to Block Netflix's $72bn Warner Bros Deal Amid Competing Bid
On December 8, 2025, a consumer class-action lawsuit was filed seeking to block Netflix's planned $72 billion acquisition of Warner Bros Discovery's studio and streaming businesses. The plaintiff, an HBO Max subscriber, argued that the deal would reduce competition in the U.S. subscription video-on-demand market by eliminating HBO Max as a rival and giving Netflix control over popular Warner Bros franchises including Harry Potter, DC Comics, and Game of Thrones.
Meanwhile, Paramount Skydance has launched a competing hostile bid worth $108.4 billion for Warner Bros Discovery, intensifying the competition over the acquisition. Warner Bros Discovery's board stated it would review Paramount's offer, though Warner Bros is not named as a defendant in the lawsuit.
The lawsuit highlights that U.S. federal antitrust law allows consumer suits challenging mergers separate from regulatory actions, although such lawsuits typically face high hurdles. Netflix described the lawsuit as meritless and an attempt to gain attention, while some members of Congress have questioned Netflix's acquisition proposal. Lead attorneys for the plaintiff declined to comment further.
