WASHINGTON (AP) — President Donald Trump stated on Sunday that the proposed acquisition of Warner Bros. Discovery by Netflix for $72 billion could pose a challenge due to the significant market share the merger would create.
As he walked the red carpet at the Kennedy Center Honors, Trump addressed several topics, including the transaction, saying, There’s no question about it. It could be a problem. He highlighted the potential implications of the merger for the entertainment industry, suggesting that it needs to undergo a thorough regulatory review.
Trump has indicated that he will be involved in the decision-making process regarding whether the federal government should approve the deal, which would combine two of the largest streaming platforms in the world. The merger would merge Warner’s substantial television and film assets, including DC Studios, with Netflix’s extensive content library and production capabilities.
Commenting on Netflix, Trump acknowledged the company’s achievements and praised its CEO, Ted Sarandos, noting a recent meeting at the Oval Office prior to the deal's announcement on Dec. 5. Ted is a fantastic man, he said. I have a lot of respect for him, but it’s a lot of market share, so we’ll have to see what happens.
While asked specifically if Netflix should be allowed to buy Warner Bros., Trump responded, Well that's the question. He reiterated concerns about Netflix's increasing market presence and its potential impacts on competition within the industry.
