In brief
During a recent event, President Trump commented on Netflix's planned $72 billion acquisition of Warner Bros. Discovery, stating that the deal could pose significant problems due to the substantial market share that would be controlled by the combined entity. He indicated his involvement in the regulatory decision regarding the merger, highlighting both respect for Netflix CEO Ted Sarandos and the implications for competition within the industry.
WASHINGTON (AP) — President Donald Trump said Sunday that a deal struck by Netflix to buy Warner Bros. Discovery 'could be a problem' because of the size of the combined market share. \ \ 'There’s no question about it,' Trump said, answering questions about the deal and various other topics as he walked the red carpet at the Kennedy Center Honors. \ \ The Republican president stated he would be involved in deciding whether the federal government should approve the $72 billion deal. If regulators approve, the merger would combine two of the world’s largest streaming services with Warner’s film and television division including DC Studios, along with Netflix’s extensive library and production capabilities. \ \ The deal is poised to reshape the entertainment landscape and must go through a regulatory process before approval, Trump cautioned. \ \ 'Netflix is a great company. They’ve done a phenomenal job,' he commented, praising Netflix CEO Ted Sarandos, with whom he recently met in the Oval Office. 'I have a lot of respect for him, but it’s a lot of market share, so we’ll have to see what happens.' \ \ When asked if Netflix should acquire the Hollywood giant behind 'Harry Potter' and HBO Max, Trump remarked, 'Well that’s the question.' He reiterated concerns about the concentrated market share. \ \ Sarandos did not make specific commitments during their meeting regarding the merger, Trump noted, adding that the CEO is a 'great person who has done one of the greatest jobs in the history of movies and other things.' The president emphasized the potential challenges of a merger with respect to market competition."
