US President Donald Trump has raised concerns about Netflix’s blockbuster $72-billion acquisition of Warner Bros Discovery’s film studio and HBO streaming assets, describing the proposed merger as something that “could be a problem” for competition regulators.
Speaking at an event in Washington, D.C., Trump said Netflix already holds a “very big market share” in the entertainment industry and that its dominance “would go up by a lot” if the deal is approved. He added that he expects to be personally involved in the final decision, signaling an unusually direct level of presidential influence over a major antitrust review.
Netflix and Warner Bros announced the agreement on Friday, setting the stage for one of the largest entertainment mergers in years, bringing franchises such as Harry Potter, Game of Thrones, Looney Tunes, The Matrix, and Lord of the Rings under Netflix’s umbrella. The deal is planned to close after Warner Bros separates its business units in the second half of 2026.
Competition authorities have yet to approve the transaction. The US Justice Department could argue the merger violates antitrust laws if the combined streaming assets give Netflix excessive market power. Netflix began in 1997 as a DVD rental service and is now the world’s biggest subscription streamer; this agreement would cement its leadership further.
Trump noted that Netflix co-CEO Ted Sarandos recently visited the Oval Office, praising him as “a great person” who has “done one of the greatest jobs in the history of movies,” though he still stressed potential market-share risks.
Industry experts say the biggest antitrust concern is the combination of Netflix with Warner Bros’ HBO streaming unit. Blair Westlake, former chair of Universal Studios’ TV and networks group, said Warner’s vast library dwarfs Netflix’s own content holdings. Still, he noted regulators may need to consider a broader competitive landscape, including not only streaming but also cable, broadcast, and YouTube — which remains the world’s largest video platform.
Westlake predicted the deal may ultimately go through but likely with concessions.
Bill Kovacic, former chair of the US Federal Trade Commission, warned that Trump’s public comments mean the merger review is now likely to run “through the White House,” suggesting an unprecedented level of political involvement in what is typically a technical antitrust assessment.
Netflix reportedly beat out rivals including Comcast and Paramount Skydance to reach the agreement. David Ellison’s Skydance had previously attempted to buy the entirety of Warner Bros. Ellison’s father, Larry Ellison — the billionaire co-founder of Oracle — is a close Trump ally, adding further political intrigue.
Meanwhile, the Writers Guild of America (East and West) issued a statement calling for the merger to be blocked, arguing that allowing “the world’s largest streaming company to swallow one of its biggest competitors” would eliminate jobs, suppress wages, reduce content diversity, and ultimately raise prices for consumers.
The BBC has contacted Netflix, Warner Bros Discovery, and the White House for comment.