"Donald Trump has warned there could be competition problems around Netflix's $83bn (62bn) deal to buy Warner Brothers' movie studio and streaming networks. The US president, speaking at an event in Washington DC on Sunday, confirmed he would be involved personally in the decision about whether the government would approve the takeover. He said Netflix had a big market share and the companies' combined size could be a problem."
"The combination of Warner's HBO Max streaming service and Netflix would put the company over the 30% market share threshold in the US. It would hand Netflix control of the studio behind franchises including Harry Potter, Batman and Superman, as well as HBO, home to shows including Game of Thrones, The White Lotus and Succession. However, Netflix is expected to argue that other streaming services such as YouTube should also be considered in the media landscape."
"Trump added that Netflix's co-CEO Ted Sarandos visited the Oval Office recently and praised him for his work at the company. I have a lot of respect for him. He's a great person, the president said. He's done one of the greatest jobs in the history of movies. Before the deal, reports suggested that Trump's preference was for Paramount to win the Warner Brothers takeover because it is backed by Larry Ellison, the billionaire co-founder of the tech company Oracle and a Trump supporter."
President Trump warned that Netflix's $83bn takeover of Warner Brothers' studio and streaming networks could raise competition problems and said he would be personally involved in the approval decision. Netflix won the Warner Bros Discovery auction, beating Paramount Skydance and Comcast. Combining HBO Max with Netflix would push market share above 30% in the US and give Netflix control of franchises such as Harry Potter, Batman and Superman and HBO series like Game of Thrones, The White Lotus and Succession. Industry voices and Hollywood unions have urged blocking the deal. The merger is expected to be reviewed by the Department of Justice. Netflix is likely to argue that platforms such as YouTube should be considered part of the competitive media landscape. Trump also praised Netflix co-CEO Ted Sarandos and reportedly preferred Paramount, backed by Larry Ellison.
Read at www.theguardian.com
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