Trump raises doubts over Netflix’s $83bn bid for Warner Bros

US President Donald Trump (Photo by Jim WATSON / AFP)

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US President Donald Trump commented on Sunday on Netflix’s effort to acquire storied 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 Centre Honours awards ceremony, referring to the decision facing federal regulators weighing the nearly $83 billion deal that has raised antitrust concerns and ire among Hollywood’s elite.

Trump also lavished praise on Netflix co-CEO 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 have 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.

But 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.

AFP

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