A Warner Bros Discovery office is pictured in Culver City, California. Streaming giant Netflix said it will buy film and television studio Warner Bros Discovery for nearly US$83 billion. Photo / Patrick T. Fallon, AFP
A Warner Bros Discovery office is pictured in Culver City, California. Streaming giant Netflix said it will buy film and television studio Warner Bros Discovery for nearly US$83 billion. Photo / Patrick T. Fallon, AFP
United States President Donald Trump commented today on Netflix’s effort to acquire famous Hollywood studio Warner Bros, saying the streaming giant already has “a very large market share” and “it could be a problem”.
“I’ll be involved in that decision,” Trump said upon arriving at the Kennedy CentreHonours awards ceremony, referring to the decision facing federal regulators weighing the nearly US$83 billion ($143b) deal that has raised anti-trust concerns and ire among Hollywood’s elite.
Trump also lavished praise on Netflix co-chief executive Ted Sarandos, who recently visited the White House, saying “he’s done one of the greatest jobs in the history of movies”.
If completed in its current form, Netflix would absorb competing streaming platform HBO Max and Warner Bros studios, which has produced film classics including Casablanca and Citizen Kane, over the decades, as well as more recent blockbusters like Barbie.
The acquisition would give Netflix a massive catalogue, with a vast array of content, including the Harry Potter films, The Lord of the Rings saga, and the superheroes of DC Studios - Batman, Superman and Wonder Woman, for starters.
Netflix won’t be getting television channels if the deal goes through, like Discovery and CNN, which would be spun off from Warner Bros prior to the sale.
Parent company Warner Bros Discovery officially put itself up for sale in October after receiving multiple unsolicited offers, beating out cable operator Comcast and media group Paramount Skydance.
Paramount’s chief David Ellison is a major backer of Trump.
