"I'll be involved in that decision," the US president said Donald Trump. CREDIT: Getty/Chip Somodevilla
Donald Trump has weighed in on Netflix‘s takeover of Warner Bros., suggesting “it could be a problem”.
Last week, it emerged that the streamer has agreed to buy Warner Bros Discovery’s film and TV business for $72billion (£54billion), putting it in control of franchises such as Harry Potter and Batman as well as HBO shows such as Game Of Thrones and Succession.
The deal is yet to be completed, however, with an expectation that it will close in late 2026 as Discovery elements such as certain channels, news and sport, are sold off.
It is also expected to face regulatory approval in the US and elsewhere, and US President Trump has now spoken on the news.
“Netflix are a great company and they’ve done a phenomenal job,” he said at an event in Washington DC over the weekend. “They have a very big market share. And when they have Warner Bros. that share goes up a lot. That’s going to be for some economists to tell. I’ll be involved in that decision.”
Speaking about Netflix boss Ted Sarandos, he added: “He came up in the Oval Office last week. I have a lot of respect for him, he’s a great person. But he’s done one of the greatest jobs in the history of movies and other things.”
Trump then said: “But it is a big market share, there’s no question about it. It could be a problem.”
Speaking on the Today programme, former chair of the Federal Trade Commission Bill Kovacic suggested the president’s comments mean that the deal is “going to run through the White House”.
“That means that we’re going to have probably a deep level, an unprecedented level of presidential control in the resolution of what used to be a technical analysis of a merger,” he added.
The deal has attracted criticism both in Washington and Hollywood, with the Writers Guild of America among those speaking out against it.
“The world’s largest streaming company swallowing one of its biggest competitors is what antitrust laws were designed to prevent,” they said. “The outcome would eliminate jobs, push down wages, worsen conditions for all entertainment workers, raise prices for consumers, and reduce the volume and diversity of content for all viewers.”
Netflix beat rivals Paramount Skydance and Comcast for the Warner Bros. takeover bid, with the former previously offering to buy the whole company, though Warners rejected this before putting itself up for sale. Paramount is run by David Ellison, the son of billionaire and Trump ally Larry Ellison. By Sam Warner, NME
