US President Donald Trump has flagged potential concerns over Netflix’s planned $72bn (£54bn) deal to buy Warner Brothers Discovery’s movie studio and popular HBO streaming networks.
At an event at the John F Kennedy Center in the US capital on Sunday, Trump said that Netflix has a “very big market share” which would “go up by a lot” if the deal goes ahead. Trump added he would be personally involved in the decision on whether or not to approve the deal and repeatedly highlighted the size of Netflix’s market share.
Acquisition Deal
On Friday, the two companies said they had reached an agreement to bring Warner Brothers’ franchises like Harry Potter and Game of Thrones to Netflix, creating a new media giant.
The planned deal, which has raised concerns among some in the industry, is yet to be approved by competition authorities. The BBC has contacted Warner Bros, Netflix and the White House for comment.
Launched in 1997 as a postal DVD rental business, Netflix has grown to become the world’s largest subscription streaming service. The deal, the biggest the film industry has seen in a long time, would cement its number one position.
The deal is expected to be completed after Warner Bros splits its business in the second half of 2026.
The US Justice Department’s competition division, which oversees major mergers, could contend that the deal violates the law if the combined businesses account for too much of the streaming market.