In a move that could significantly impact the global streaming landscape, US President Donald Trump has publicly raised antitrust concerns regarding the proposed multi-billion dollar acquisition of Warner Bros Discovery by Netflix. The President indicated he would personally involve himself in scrutinising the deal, which faces regulatory hurdles over market dominance fears.
Trump's Direct Intervention in Streaming Mega-Deal
Speaking to reporters on December 7, 2025, President Trump confirmed his administration would closely examine the $72 billion transaction. "Well, that’s got to go through a process, and we’ll see what happens," Trump stated. He explicitly highlighted the market share issue, noting, "But it is a big market share. It could be a problem."
The President elaborated that Netflix already commands a "very big market share," and acquiring Warner Bros Discovery, which houses the HBO Max service, would substantially increase it. This intervention underscores the heightened regulatory scrutiny facing tech and media consolidation, especially when a deal pushes a company's control past perceived thresholds.
The Core Antitrust Argument and Netflix's Defence
The primary concern for regulators, including the US Justice Department's antitrust division, is that the combined entity's market share would surge past a critical 30% threshold. This would effectively merge the world's number one streaming service (Netflix) with the number four player (HBO Max), potentially stifling competition and consumer choice.
However, Netflix is anticipated to mount a robust defence. The company, through its co-CEO Ted Sarandos, is expected to argue that the relevant market definition should be broader. They will likely contend that platforms like Google's YouTube and ByteDance's TikTok are direct competitors for viewer attention and advertising revenue. Including these giants in the market analysis would dramatically reduce Netflix's perceived dominance.
Lobbying Efforts and the Road Ahead
The political dimension of this deal became clearer as President Trump confirmed a recent meeting at the White House with Netflix's Ted Sarandos. According to sources familiar with the discussion, Sarandos lobbied for the acquisition, arguing that Netflix is not an "all-powerful monopoly" and has faced its own challenges, including subscriber losses in the past.
Despite this lobbying, Trump's public comments signal that the deal is far from guaranteed. His pledge to step in ensures the transaction will undergo intense examination. The outcome will set a major precedent for future mergers in the rapidly evolving digital entertainment and streaming sector, influencing market dynamics worldwide.
Key takeaways from this development include:
- President Trump's direct involvement elevates the regulatory risk for the Netflix-Warner Bros Discovery merger.
- The debate will centre on defining the "market"—whether it's limited to subscription streaming or includes free, ad-supported platforms like YouTube and TikTok.
- The final decision will have profound implications for competition, content creation, and pricing in the global streaming industry.
