US President Donald Trump has expressed concern over Netflix’s planned $72 billion deal to acquire the Warner Brothers Discovery film studio and the HBO streaming networks.
Trump, speaking at an event in Washington, D.C. on Sunday, said Netflix has a “huge market share” and warned that the combined size of the two companies “could be a problem.”
Netflix and Warner Brothers Discovery announced on Friday that they had reached a deal that would bring Warner Bros.’ major franchises, including Harry Potter and Game of Thrones, under Netflix.
The agreement still needs approval from competition authorities. The BBC has contacted Netflix, Warner Bros and the White House for comment.
Netflix, founded in 1997 as a DVD rental company, has become the world’s largest subscription streaming service. The deal would further cement its dominant position in the global streaming market.
If approved, the deal would move several major franchises such as Looney Tunes, The Matrix and The Lord of the Rings to Netflix.
The transaction is expected to close after Warner Bros completes a business split planned for the second half of 2026.
The U.S. Justice Department’s competition division, which reviews major mergers, can challenge the deal if it believes the combined operation has too much influence over the streaming industry.
Speaking at the John F. Kennedy Center, Trump repeated that Netflix has a “very large market share,” which he said would “increase a lot” if the acquisition goes through.
Trump also said he would personally participate in the approval process and continued to emphasize the size of Netflix’s influence in the market.
He noted that Netflix co-CEO Ted Sarandos recently visited the Oval Office and congratulated him on his leadership of the company.
“I have a lot of respect for him. He’s a great person,” Trump said. “He has done one of the best jobs in the history of cinema.”
Sarandos previously said the deal may have surprised investors, but argued that it positions Netflix for long-term growth “for decades to come.”
Netflix was able to close the deal after fending off interest from Comcast and Paramount Skydance.
Paramount Skydance, led by David Ellison, had previously attempted to buy all of Warner Bros., including its cable assets.
The Eastern and Western branches of the Writers Guild of America have asked regulators to block the merger, saying it reflects what antitrust laws are intended to prevent.
(BBC)
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