Trump Warns $72bn Netflix Warner Bros Deal Could Trigger Antitrust Clash

President Donald Trump said the planned $72bn Netflix Warner Bros deal could pose a problem for regulators, signaling that the media mega merger will face intense political and antitrust scrutiny. His comments at an event in Washington DC highlighted concerns about Netflix's market power, raising questions about whether competition authorities will approve a transaction that would reshape the global streaming landscape.

The Netflix Warner Bros deal involves Netflix acquiring Warner Brothers Discovery's movie studio and HBO streaming networks. The agreement would bring major franchises such as Harry Potter and Game of Thrones to Netflix, expanding the firm's already dominant catalogue. Trump said Netflix has a big market share and warned that its share would go up by a lot if the deal proceeds. He added that he would be personally involved in the decision-making process, repeating concerns about Netflix's position in the streaming market.

Industry and regulatory reaction builds

The deal, the largest the film industry has seen in years, still needs approval from US competition authorities. The Department of Justice, which reviews major mergers, could argue that the Netflix Warner Bros deal violates competition law if the combined companies command too much of the streaming sector.

According to Bill Kovacic, former chair of the Federal Trade Commission, Trump’s public statements indicate that any regulatory process may run through the White House. He said this could create an unprecedented level of presidential involvement in what is typically a technical merger review. His remarks underscore the political sensitivity surrounding consolidation in the entertainment sector.

The Writers Guild of America’s East and West branches called for the Netflix Warner Bros deal to be blocked. The union warned that allowing the world’s largest streaming company to absorb a major competitor would undermine wages, reduce job opportunities and limit content diversity. It argued that antitrust laws exist to prevent precisely this type of consolidation.

What Netflix and Warner Bros stand to gain

Netflix, founded in 1997 as a postal DVD rental business, has grown into the world’s largest subscription streaming service. Securing the Netflix Warner Bros deal would cement its leadership position and expand its control over content libraries that draw global audiences. The agreement includes key franchises such as Looney Tunes, The Matrix and Lord of the Rings, which would shift to Netflix after Warner Bros completes a planned corporate split in the second half of 2026.

Netflix beat several rivals, including Comcast and Paramount Skydance, to strike the agreement. Paramount Skydance, led by David Ellison, had attempted to buy all of Warner Bros, including its cable networks. Warner Bros rejected that proposal before opting for a sale structure that ultimately favored Netflix.

Trump noted that David Ellison’s father, Larry Ellison, a multi billionaire and close ally of the president, had ties to the process. His comment appeared to highlight the high stakes and political connections surrounding the deal, although he praised Netflix co CEO Ted Sarandos for his leadership and said he respected the work done at the company.

Market implications and strategic rationale

Ted Sarandos acknowledged investor surprise at the Netflix Warner Bros deal but said it offers long term strategic value. He described the merger as a chance to position Netflix for success in the decades to come. Combining Warner Bros' extensive intellectual property with Netflix’s distribution scale would create a powerful media entity with broad influence over global entertainment trends.

The proposed integration raises questions about the future structure of the streaming market. Analysts say increased consolidation could reduce competition, raise prices for consumers and limit the number of platforms capable of securing major franchises. Supporters argue that scale is essential for companies to compete in a market defined by rising production costs and fragmented viewer habits.

At the John F Kennedy Center, Trump reiterated concerns that the Netflix Warner Bros deal could lead to excessive concentration in the streaming industry. He said Netflix already has a very big market share and insisted that the deal could make regulatory approval difficult. His comments suggest that antitrust scrutiny will be rigorous and may extend beyond traditional legal thresholds.

Timeline and next steps

The deal is expected to close after Warner Bros finalizes its planned business split in 2026. Competition authorities will then assess whether the merger meets legal standards related to market dominance and consumer impact. Regulatory review is likely to take months, particularly given the scale of the transaction and heightened political attention.

If approved, the Netflix Warner Bros deal would reshape the streaming ecosystem. It would consolidate franchises, shift bargaining power and elevate Netflix’s role as the central hub of global entertainment. If blocked, it could signal a more assertive regulatory era in the United States, reflecting increased scrutiny of large tech and media mergers.

Bottom line

The $72bn Netflix Warner Bros deal has the potential to transform the global streaming market, but strong political and regulatory resistance, including from President Trump, signals that approval is far from guaranteed.