Trump says he’ll be involved in review of Netflix-Warner Brothers deal

Trump says he’ll be involved in review of Netflix-Warner Brothers deal

The US president did not indicate support for the deal but highlighted concerns over potential market concentration in the entertainment industry.

The Netflix logo outside its Los Angeles headquarters. On Friday, Netflix agreed to acquire Warner Bros. Discovery’s TV, film, and streaming division. (EPA Images pic)
WASHINGTON:
US President Donald Trump said on Sunday that he would have a say whether a proposed merger between Netflix and Warner Brothers should go forward, telling reporters the market share of a combined entity could raise concerns.

“I’ll be involved in that decision,” Trump told reporters as he arrived at the Kennedy Center for its annual awards show.

Netflix on Friday agreed to buy Warner Bros Discovery’s TV, film studios and streaming division for US$72 billion, a deal that would hand control of one of Hollywood’s most prized assets to the streaming pioneer.

Trump did not say whether he favored approval for the deal, but he pointed to a potential concentration of market power in the entertainment industry.

“That’s going to be for some economists to tell…. But it is a big market share. There’s no question it could be a problem,” Trump said.

Meanwhile, AFP reported Trump also lavished praise on Netflix co-CEO Ted Sarandos, who recently visited the White House, saying “he’s done one of the greatest jobs in the history of movies.”

If completed in its currrent form, Netflix would absorb competing streaming platform HBO Max and Warner Bros. studios, which has produced film classics including “Casablanca” and “Citizen Kane,” over the decades, as well as more recent blockbusters like “Barbie.”

The acquisition would give Netflix a massive catalog, with a vast array of content, including the Harry Potter films, the Lord of the Rings saga, and the superheroes of DC Studios — Batman, Superman and Wonder Woman, for starters.

But Netflix won’t be getting television channels if the deal goes through, like Discovery and CNN, which would be spun off from Warner Bros. prior to the sale.

Parent company Warner Bros. Discovery officially put itself up for sale in October after receiving multiple unsolicited offers, beating out cable operator Comcast and media group Paramount Skydance.

Paramount’s chief David Ellison is a major backer of Trump.

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