Trump highlights market share issues
US President Donald Trump expressed potential antitrust concerns on Sunday 7 December 2025 about Netflix’s planned $72 billion (£54 billion) acquisition of Warner Bros Discovery’s film studio and HBO streaming networks.
Speaking at an event in Washington DC, Trump noted that Netflix already holds a “very big market share” and that adding Warner Bros would increase it substantially, creating a possible problem. He confirmed he would personally involve himself in the approval decision, consulting economists along the way.
The deal, announced on Friday, would bring major Warner franchises such as Harry Potter, Game of Thrones, Looney Tunes, The Matrix and Lord of the Rings to Netflix, solidifying its position as the world’s largest streaming service.
Netflix, which started as a DVD rental business in 1997, would gain control of HBO Max and Warner’s vast content library.
The transaction awaits approval from competition authorities, including the US Justice Department’s antitrust division, which could block it if the merged entity dominates too much of the streaming market. Completion is expected after Warner Bros splits its business in the second half of 2026.
Deal background and rivals
Netflix outbid competitors including Comcast and Paramount Skydance to secure the agreement. Paramount Skydance, led by David Ellison (son of Trump ally Larry Ellison), had previously attempted a full takeover of Warner Bros, including its cable networks, but Warner rejected it before putting assets up for sale.
Netflix co-CEO Ted Sarandos recently met Trump at the White House, where the president reportedly advised Warner Bros to sell to the highest bidder. Trump praised Sarandos as a “fantastic man” who has done “one of the greatest jobs in the history of movies”. Sarandos acknowledged the deal might surprise investors but positioned it as key to Netflix’s long-term success.
Expert views on competition
Media executive Blair Westlake, former chair of Universal Studios’ television group, told BBC’s Today programme that antitrust focus would centre on combining Netflix with HBO’s streaming business, though Netflix’s production scale differs from Warner’s. He noted Netflix’s content library is smaller than Warner’s but predicted approval with concessions.
Experts suggest regulators might take a broader view, including cable TV, broadcast and YouTube as competitors – where YouTube leads global viewing.
Former Federal Trade Commission chair Bill Kovacic warned Trump’s involvement signals unprecedented presidential oversight, turning a technical merger review into a White House-led process.
Opposition from unions
The Writers Guild of America’s East and West branches urged blocking the merger, arguing it would create a monopoly that cuts jobs, suppresses wages, worsens worker conditions, raises consumer prices and reduces content diversity.
The BBC has contacted Warner Bros, Netflix and the White House for comment.
Source: BBC
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