WASHINGTON - In a recent appearance at the Kennedy Center Honors, President Donald Trump addressed the recently announced deal of Netflix acquiring Warner Bros. Discovery for a staggering $72 billion, and expressed his concerns over the implications it may have on the market.
Trump stated, There's no question about it, when asked about the deal's potential to affect competition in the entertainment industry. He indicated that he would play a significant role in deciding whether the federal government would approve the merger.
The merger would combine two of the world's largest streaming platforms, merging Netflix's extensive content library and production capabilities with Warner's renowned television and film production, which includes hits like DC Studios.
Netflix is a great company. They've done a phenomenal job. Ted [Sarandos] is a fantastic man, Trump remarked about Netflix's CEO, noting their recent meeting in the Oval Office prior to the deal announcement.
He further explained that the proposed acquisition would increase Netflix's market share significantly, stating, They have a very big market share and when they have Warner Bros., that share goes up a lot, so I don't know. Trump reiterated, It could be a problem, highlighting his commitment to ensuring a fair competitive landscape in the media and entertainment sector.
