A potential mega-merger between Netflix and Warner Bros. Discovery (WBD) has triggered immediate regulatory attention at the highest level of the U.S. government. On Sunday, December 7, President Donald Trump publicly expressed concerns that the $72–$83 billion acquisition “could be a problem” due to the massive market dominance the combined media powerhouse would hold.
A Deal That Could Reshape Global Media
If approved, Netflix would acquire Warner Bros. Discovery’s film and streaming assets including HBO, HBO Max, and Warner Bros. studios consolidating some of the most influential entertainment brands under one company. Analysts estimate the merger could create a streaming giant with over 450 million global subscribers and more than $80 billion in annual streaming and content revenue, far surpassing competitors like Disney+, Amazon Prime Video, and Paramount+.
White House Signals Direct Oversight
President Trump confirmed that he will personally weigh in on whether the federal government should approve the acquisition, signaling one of the most intense antitrust reviews for a media merger in recent years. The decision will ultimately go through the Department of Justice (DOJ) Antitrust Division, but the President’s involvement underscores the political and economic stakes.
Trump also revealed he met with Netflix co-CEO Ted Sarandos at the White House just days before the news broke. While he praised Sarandos as a “fantastic man,” Trump reiterated that the merger may raise serious antitrust issues.
Reports suggest Sarandos argued that the streaming market includes platforms like YouTube, TikTok, and gaming services, which reduce Netflix’s dominance in broader digital entertainment metrics.
The proposed deal has already sparked strong opposition from lawmakers in both parties. Critics warn the merger could reduce consumer choice, raise subscription prices, and further concentrate creative decision-making in Hollywood.
Unions including the Writers Guild of America (WGA) have also urged regulators to block or delay the merger, warning it could eliminate jobs, suppress wages, and accelerate consolidation across the entertainment industry.
Netflix has shown confidence by offering a $5.8 billion breakup fee if the acquisition collapses over regulatory concerns. The deal excludes WBD’s traditional cable networks like CNN, which are expected to be spun off before closing.
With presidential scrutiny, bipartisan resistance, and mounting public debate, the Netflix-WBD merger is poised to become one of the most consequential antitrust battles in modern media history.
