Overview
- Netflix’s Ted Sarandos and WBD’s Bruce Campbell told senators the merger would preserve consumer choice, protect jobs and U.S. production, and keep a 45‑day theatrical window for Warner Bros. films.
- Lawmakers from both parties pressed antitrust concerns, including reduced competition and the risk of a “killer non-acquisition,” while noting Congress cannot approve or block the transaction.
- The Justice Department is examining the deal’s impact on subscription streaming competition, a review that experts say could be protracted and determinative.
- WBD’s board continues to back Netflix’s $27.75‑per‑share all‑cash offer for the studios and HBO Max, with a shareholder vote likely in March according to CNBC.
- Paramount Skydance’s hostile campaign remains active after WBD rejected its bid, with a tender deadline extended to Feb. 20 and CEO David Ellison declining to testify at the hearing.