Trump Flags Concerns Over Netflix’s $72bn Bid for Warner Bros Discovery
US President Donald Trump has raised doubts about Netflix’s planned $72bn (£54bn) takeover of Warner Bros Discovery’s film studio and HBO streaming networks, warning the combined group’s size “could be a problem”.
Speaking at an event in Washington DC, Trump said Netflix already holds a “very big market share”, which he argued would “go up by a lot” if the deal goes ahead. He added he would be personally involved in deciding whether the merger should be approved.
The comments came a day after Netflix and Warner Bros announced an agreement allowing Netflix to acquire major Warner Bros franchises, including Harry Potter and Game of Thrones, in what would create one of the world’s largest media companies. The deal still requires sign-off from competition regulators. The BBC has sought comment from Netflix, Warner Bros and the White House.
Launched in 1997 as a postal DVD service, Netflix has grown into the world’s biggest subscription streaming platform. The acquisition, one of the largest in Hollywood in years, would further secure its dominance, bringing Warner Bros’ extensive catalogue, from ‘Looney Tunes to The Matrix’ and ‘The Lord of the Rings’, onto the platform. Completion is expected in the second half of 2026, following a corporate split by Warner Bros.
The US Justice Department’s antitrust division is expected to scrutinise whether combining Netflix’s streaming power with HBO’s content library would give the new company excessive control of the market. Blair Westlake, former Universal Studios television chair, told the BBC that the core issue is the merger of Netflix and HBO’s streaming services, noting the vast size of Warner’s film and TV library.
However, analysts say the firm may appear less dominant if regulators consider a wider competitive landscape that includes cable, broadcast and YouTube. “YouTube is far and away the number one place consumers go for content,” Westlake said, adding he expects the deal to be approved, though likely with concessions.
Bill Kovacic, former Federal Trade Commission chair, said Trump’s public intervention suggests merger negotiations will “run through the White House”, adding that the level of presidential involvement could be “unprecedented”.
Netflix outbid rivals including Comcast and Paramount Skydance, led by David Ellison. Warner Bros had earlier rejected a bid from Paramount Skydance to buy the entire company. Ellison’s father, Larry Ellison, a close Trump ally, had supported that proposal.
The Writers Guild of America’s East and West branches have urged regulators to block the merger, arguing that allowing “the world’s largest streaming company” to absorb a major competitor would eliminate jobs, drive down wages and reduce content choice for viewers.
