Trump: Netflix deal to acquire Warner Bros. ‘could be a problem’

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(The Hill) — President Donald Trump over the weekend acknowledged Netflix’s bid to acquire Warner Bros. Discovery could face hurdles, an admission that came as Paramount sought to stymie the deal with a competing bid for the massive moviemaker and fellow entertainment giant.

“There’s no question about it,” Trump told reporters on Sunday when asked if the Netflix-WBD deal could face regulatory problems, saying the companies will need to “go through a process and we’ll see what happens.”

The president praised Netflix’s top executive, Ted Sarandos, who recently visited the White House and lobbied Trump to support the $72 billion deal, which would hand Netflix control of WBD’s vast content libraries and creative arms, including HBO and DC Studios.

Some Democrats and entertainment workers unions have expressed distress with the deal, which they argue would hand Netflix too much control over the movie and television landscape.

“They have a very big market share, and when they have Warner Bros., you know, that share goes up a lot, so I don’t know,” Trump said. “I’ll be involved in that decision, too. But they have a very big market share.”

The president’s comments came just hours before Paramount was reportedly preparing a hostile bid for WBD to undercut Netflix’s agreement with the company, targeting WBD shareholders directly with an all-cash higher offer per share.

Trump has repeatedly praised Paramount and its new leadership, topped by David Ellison.

Politics

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