US President Donald Trump has voiced serious concern over a potential colossal merger in the media and streaming industry, where Netflix is bidding to acquire Warner Bros. Studios in a deal valued at $83 billion. President Trump cautioned that Netflix already commands a large market share, and this acquisition could quickly become a significant “problem” regarding competition.
In reacting to the potential deal, President Trump claimed he would play a direct role in the regulatory decision, as federal regulators are currently reviewing the acquisition amidst rising concerns about competition within the media landscape.
In contrast to his cautious stance on the deal itself, Trump praised Netflix co-CEO Ted Sarandos, who recently visited the White House. According to the President, Sarandos has done “wonderful work” in the film industry.
Should the merger materialize, Netflix would gain control of a vast cinematic legacy. This massive library includes iconic franchises like ‘Harry Potter’ and ‘Lord of the Rings,’ as well as DC Studios’ renowned superheroes, including Batman, Superman, and Wonder Woman. Warner Bros.’ classic films such as ‘Casablanca’ and ‘Citizen Kane,’ along with the recent blockbuster ‘Barbie,’ would also fall under Netflix’s domain. Notably, television channels like Discovery and CNN are excluded from the potential deal, as they have already been planned to be spun off from Warner Bros.
This major prospective consolidation has triggered widespread apprehension in Hollywood, where experts fear that granting Netflix access to such an extensive catalog will inevitably further limit market competition.
