Trump says $72bn Netflix-Warner Bros deal ‘could be a problem’
Osmond Chiabusiness reporter
Getty ImagesUS President Donald Trump has flagged possible concerns about Netflix’s planned $72bn (£54bn) deal to buy Warner Brothers Discovery’s film studio and popular HBO streaming network.
Netflix has a “huge market share” and the overall size of the companies “could be a problem,” he said at an event in Washington, D.C., on Sunday.
On Friday, the two companies announced that they had reached an agreement to create a new media giant by bringing Warner Brothers’ series such as Harry Potter and Game of Thrones to Netflix.
The planned deal, which has raised concerns among some in the industry, has not yet been approved by competition authorities. The BBC has contacted Warner Bros, Netflix and the White House for comment.
Founded in 1997 as a DVD-by-mail rental business, Netflix has grown to become the world’s largest subscription streaming service. The biggest deal the film industry has seen in a long time will strengthen its number one position.
Under the agreement, many global entertainment franchises such as Looney Tunes, The Matrix and Lord of the Rings will be moved to Netflix.
The deal is expected to be completed after Warner Bros. splits its business in the second half of 2026.
The U.S. Justice Department’s antitrust division, which oversees large mergers, could argue that the deal violates the law if the combined businesses make up a large share of the broadcast market.
at an event Speaking at the John F Kennedy Center in the US capital, Trump said Netflix has a “huge market share” and will “grow a lot” if the deal goes ahead.
Trump added that he would be personally involved in the decision on whether to approve the deal and repeatedly emphasized the size of Netflix’s market share.
He also said Netflix co-CEO Ted Sarandos recently visited the Oval Office and praised him for his work at the company.
“I have great respect for him. He’s a great person,” Trump said. “He did one of the greatest works in the history of cinema.”
Mr. Sarandos has previously acknowledged that the deal may have surprised investors, but said it was a chance to position Netflix for success “for decades to come.”
Netflix, Warner Bros. It beat out several rivals like Comcast and Paramount Skydance to land a deal with.
Paramount Skydance, headed by David Ellison, had previously tried to acquire all of Warner Bros., including its cable networks.
Warner Bros. He rejected this approach before putting himself up for sale.
David Ellison’s multi-billionaire father, Larry Ellison, is a close Trump ally.
The Writers Guild of America’s Eastern and Western chapters called for the merger to be blocked, saying “the world’s largest publishing company swallowing one of its largest competitors is exactly what antitrust laws are designed to prevent.”
“The result will eliminate jobs, reduce wages, worsen conditions for all entertainment workers, increase prices for consumers and reduce the volume and variety of content for all audiences.” he said on friday.
