Overview
- Warner Bros. Discovery said last month it accepted Netflix’s all-cash offer to acquire the company.
- The Senate Judiciary Subcommittee on Antitrust, chaired by Sen. Mike Lee, will question Netflix and Warner executives at a Tuesday hearing.
- Sen. Lee flagged “antitrust red flags” and raised a “killer non-acquisition” concern that the review process could sideline a rival or expose sensitive data.
- Critics warn the tie-up would boost Netflix’s leverage by combining its roughly 325 million subscribers with Warner’s valuable HBO Max library and major franchises.
- Supporters argue the merger could reduce subscription overlap and costs—citing that 45% of HBO Max users also pay for Netflix—free funds for new productions, and strengthen competition with Disney, Amazon, YouTube, and Apple, noting past approvals of Disney–Fox and Amazon–MGM.