Netflix takeover of Warner Bros 'could be a problem', Trump says

2 days ago 8

Donald Trump has said helium volition beryllium progressive successful the determination connected whether Netflix should beryllium allowed to bargain Warner Bros, arsenic the $72bn (£54bn) woody attracts a media manufacture backlash.

The US president acknowledged successful remarks to reporters determination "could beryllium a problem", acknowledging concerns implicit the US streaming giant's marketplace dominance.

Crucially, helium did not accidental wherever helium stood connected the issue.

It was revealed connected Friday that Netflix - already the world's biggest streaming work by marketplace stock - had agreed to buy Warner Bros Discovery's TV, movie studios and HBO Max streaming division.

The woody aims to implicit precocious adjacent twelvemonth aft the Discovery constituent of the business, chiefly bequest TV channels showing cartoons, quality and sport, has been spun off.

But the woody has attracted transverse enactment disapproval connected contention grounds and threatened a warfare with Hollywood if allowed to pass.

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Netflix agrees $72bn takeover of Warner Bros

The Writers Guild of America said: "The world's largest streaming institution swallowing 1 of its biggest competitors is what antitrust laws were designed to prevent.

"The result would destruct jobs, propulsion down wages, worsen conditions for each amusement workers, rise prices for consumers, and trim the measurement and diverseness of contented for each viewers."

Republican Senator, Roger Marshall, said successful a statement: "Netflix's... effort to bargain Warner Bros would beryllium the largest media takeover successful past - and it raises superior reddish flags for consumers, creators, movie theaters, and section businesses alike.

"One institution should not person afloat vertical power of the contented and the organisation pipeline that delivers it. And combining 2 of the largest streaming platforms is simply a textbook horizontal Antitrust problem.

"Prices, choice, and originative state are astatine stake," helium said.

Paramount Skydance and Comcast, the genitor institution of Sky News, were 2 different bidders successful the auction process that preceded the announcement.

The Reuters quality agency, citing accusation from sources, said their bids were rejected successful favour of Netflix for antithetic reasons.

Paramount's was seen arsenic having backing concerns, they said, portion Comcast's was deemed not to connection truthful galore earlier benefits.

Read more: Why Netflix could yet get its mode successful Trump's America

Paramount is tally by David Ellison - the lad of the Oracle tech billionaire Larry Ellison who is simply a adjacent state of Mr Trump.

The president said of the Netflix deal's way to regulatory clearance: "I'll beryllium progressive successful that decision".

On the apt absorption helium added: "That's going to beryllium for immoderate economists to archer … But it is simply a large marketplace share. There's nary question it could beryllium a problem."

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