Donald Trump weighed in on Sunday regarding Netflix’s proposed acquisition of Warner Bros. Discovery, a deal valued at $72 billion, rising to over $82 billion when debt is considered.
Speaking at the Kennedy Center Awards in Washington, Trump emphasized potential market share issues, stating the merger “could be a problem.”
The streaming giant plans to purchase Warner Bros. Discovery’s film studio, HBO, and HBO Max. This deal would provide Netflix with access to decades of Warner Bros. films and shows, while cable networks such as CNN and TNT are not included. Netflix, already the world’s largest streaming service with over 300 million subscribers, would see its market share increase substantially after combining with Warner Bros., a point Trump highlighted: “They have a very big market share. When they have Warner Bros., that share goes up a lot.”
Trump also expressed that he intends to consult “some economists” before approving the deal, adding, “I’ll be involved in that decision, too.”
While U.S. presidents rarely intervene directly in antitrust approvals, his involvement signals high-level attention to the merger. Regulatory approval will be required from several authorities. Since neither company owns broadcast stations, Federal Communications Commission approval is not necessary.
However, the Department of Justice’s antitrust division will likely review the transaction, and international regulators, including the European Commission, are expected to weigh in as well. Reflecting on the process, Trump noted that the merger still faces multiple hurdles before completion.
“Well, that’s got to go through a process, and we’ll see what happens,” he told reporters.
Industry experts will be closely watching as one of the largest media acquisitions in recent years moves through domestic and global regulatory channels.
