Netflix Announces $72 Billion Deal to Acquire Warner Bros Discovery Amidst Regulatory Concerns
Netflix and Warner Bros Discovery have announced a deal valued at approximately $72 billion, under which Netflix will acquire Warner Bros Discovery's movie studio and HBO streaming networks.
The transaction could result in major franchises such as Harry Potter and Game of Thrones moving to Netflix as part of the deal.
However, the deal has not yet received regulatory approval. Competition authorities, including the US Department of Justice's antitrust division, may challenge the acquisition if the combined market share of the merged entity is considered too large.
Former President Donald Trump has raised concerns about the deal, stating that Netflix holds a very large market share and that a merged company could be problematic. He indicated he would be personally involved in approval decisions.
Trump also noted that Netflix co-CEO Ted Sarandos recently visited the Oval Office and praised him, and Trump expressed respect for Sarandos.
These remarks were made at a Kennedy Center event in Washington, DC, on Sunday, following the announcement of the deal on the previous Friday.
