Trump Flags Potential Issues With $72bn Netflix–Warner Bros Deal
Former US President Donald Trump has raised concerns over Netflix’s planned $72 billion acquisition of Warner Bros. Discovery, which would bring the movie studio and popular HBO streaming networks under the streaming giant’s control.
Speaking at an event in Washington DC on Sunday, Trump highlighted Netflix’s “very big market share,” warning that the combined size of the two companies “could be a problem.”
The deal, announced on Friday, aims to bring Warner Bros. franchises including Harry Potter and Game of Thrones to Netflix, creating one of the largest media companies in the world. It is subject to regulatory approval from US competition authorities.
Netflix, which started as a DVD rental service in 1997, has grown into the world’s leading subscription streaming platform. The proposed acquisition would strengthen its position further, giving it control over major franchises such as Looney Tunes, The Matrix, and The Lord of the Rings. The deal is expected to conclude after Warner Bros. completes its corporate split in the second half of 2026.
Trump indicated he would be personally involved in any approval process, repeatedly referencing the company’s market dominance. He also praised Netflix co-CEO Ted Sarandos, who recently visited the White House. “I have a lot of respect for him. He’s done one of the greatest jobs in the history of movies,” Trump said.
Sarandos has acknowledged that the agreement may surprise some investors but described it as an opportunity to position Netflix for long-term success.
Industry experts note that the main antitrust considerations are the combination of Netflix’s streaming business with Warner Bros.’ HBO service. Blair Westlake, former chair of Universal Studios’ television division, told the BBC that while Netflix has a strong streaming position, the company would not dominate if regulators include cable, broadcast TV, and platforms like YouTube in the competitive landscape.
Former FTC chair Bill Kovacic suggested that Trump’s comments signal unprecedented presidential involvement in what is normally a technical antitrust review.
The merger has faced resistance from industry groups, including the Writers Guild of America, which argued that the consolidation could threaten jobs, wages, and content diversity, while increasing costs for consumers.
Netflix outbid other major contenders, including Paramount Skydance, which had previously attempted to acquire Warner Bros. in full.
