President Donald Trump has stated that the proposed $72 billion merger between Netflix and Warner Bros. Discovery “could be a problem” due to the significant market share the combined company would hold.
Trump’s remarks could raise worries that regulators will oppose the merger of the world’s leading streaming platform with the Hollywood studio.
Before finalizing the deal, the company will undergo a comprehensive review by the Justice Department, as the deal could significantly transform the entertainment industry.
“Well, that’s got to go through a process, and we’ll see what happens,” Trump said, confirming he met Netflix co-Chief Executive Officer Ted Sarandos at the White House recently. “They have a very big market share… When they have Warner Bros., that share goes up a lot.”
Trump stated he would seek advice from “some economists” before giving the deal his approval. “I’ll be involved in that decision, too,” he added.
Neither Netflix nor Warner Bros. owns any broadcast stations, so the deal wouldn’t need approval from the Federal Communications Commission. However, it might require approval from the European Commission and other governments worldwide.
The deal’s value exceeds $82 billion when debt is included.
By CEO NA Editorial Staff
