Lawmakers from both parties have raised antitrust concerns over Netflix's proposed acquisition of Warner Bros Discovery's studios and streaming unit, a deal valued at about $72–82 billion in various reports. Critics warn it could lead to higher prices and reduced choices for consumers, while Netflix insists the transaction would benefit subscribers, workers, and creators and is prepared for close scrutiny from U.S. regulators.
On Friday, members of Congress from both parties sharply criticized Netflix's proposed purchase of Warner Bros Discovery's studios and streaming assets, describing the multibillion‑dollar transaction as an antitrust "nightmare" for consumers and creative workers.
According to reporting from the Daily Wire and Reuters, the deal is valued at roughly $72 billion, though some outlets, including the Daily Wire, have cited an $82 billion figure. Netflix has framed the acquisition as a way to create jobs and give its more than 300 million global subscribers "more bang for their buck" by adding Warner Bros content at a time when President Donald Trump's administration has emphasized lowering consumer prices.
Republican lawmakers, including Senator Mike Lee of Utah, who leads the Senate antitrust committee, have warned that allowing Netflix to absorb HBO Max and Warner Bros’ content rights could reduce consumer choice and undermine competition in streaming. Lee wrote on X that a Netflix purchase of Warner Bros Discovery's streaming assets "should send alarm to antitrust enforcers around the world," arguing that expanding Netflix's dominance this way would mean "the end of the Golden Age of streaming for content creators and consumers," as reported by Reuters and Newsmax.
Last month, Republican Senator Roger Marshall of Kansas and Representative Darrell Issa of California urged U.S. antitrust enforcers to scrutinize any Netflix–Warner Bros deal, saying in letters that combining the companies could lessen competitive pressure, lead to fewer movies in theaters, and give Netflix an unacceptably large share of the streaming market.
Democrats have echoed these concerns. Senator Elizabeth Warren said in a statement that a Netflix–Warner Bros combination "would create one massive media giant with control of close to half of the streaming market — threatening to force Americans into higher subscription prices and fewer choices over what and how they watch, while putting American workers at risk." Both Warren and Representative Pramila Jayapal of Washington state, co‑chair of the House Monopoly Busters Caucus, have called the proposed merger an "anti‑monopoly" or antitrust "nightmare." Jayapal warned on X that the deal would mean "more price hikes, ads, & cookie cutter content, less creative control for artists, and lower pay for workers," according to Reuters and Channel NewsAsia.
Senator Amy Klobuchar, a Minnesota Democrat who also focuses on antitrust issues, said the "proposed deal, and any other, should be closely scrutinized," underscoring the likelihood of an intensive review in Washington.
Netflix co‑CEO Ted Sarandos has pushed back on the criticism, saying the company is "highly confident in the regulatory process" and describing the transaction as "pro‑consumer, pro‑innovation, pro‑worker, it’s pro‑creator, it’s pro‑growth," according to coverage from Reuters and allied outlets. The agreement followed a bidding contest for Warner Bros' studio and streaming assets and still requires a shareholder vote at Warner Bros Discovery. Several reports say Netflix won that bidding war, but investors have not yet approved the deal.
Paramount’s Skydance Media, led by David Ellison, is viewed as a potential rival suitor and, according to CNBC reporting cited by the Daily Wire and other outlets, has considered making an alternative offer directly to Warner Bros shareholders. Netflix, despite winning the initial bidding process, is seen as a political underdog compared with Paramount Skydance, which is reported to have close ties to the Trump administration.
Because of its size, the deal is expected to receive a rigorous antitrust review from the U.S. Department of Justice. Regulators are likely to examine the impact of combining Netflix’s more than 300 million subscribers with HBO Max’s roughly 128 million subscribers into a single streaming powerhouse, which critics say would eliminate head‑to‑head competition between the two platforms. A Justice Department spokesperson declined to comment on the review process when asked by reporters.
Antitrust experts say regulators will focus on how much of the content market the merged company would control and what remedies might address competition concerns. George Hay, a law professor at Cornell University, told Reuters that regulators could consider requiring Netflix and Warner Bros to spin off some content or assets to rivals like Paramount as a way to reduce market concentration while still allowing the transaction to proceed.
The proposed merger is also expected to face scrutiny from European Union regulators, given the combined companies’ significant streaming market share there. European cinema trade groups such as the International Union of Cinemas (UNIC) have signaled they are preparing to raise concerns that the deal could further weaken theatrical releases in favor of streaming.
Consumer advocates and lawmakers have pointed to rising entertainment costs as a backdrop for the debate. Some ad‑free premium plans for major streaming services, including Netflix and HBO Max, are now approaching or exceeding $15–$20 per month in the U.S., heightening worries that consolidation could drive prices even higher over time.
Warren has also linked the merger debate to broader concerns about how the Trump administration handles antitrust enforcement. In a recent statement, she accused the administration of turning antitrust review into a "cesspool of political favoritism and corruption" and urged the Justice Department to conduct a transparent review of the Netflix–Warner Bros deal, warning that the process must not be used to invite "influence‑peddling and bribery." She pointed to earlier mergers approved during Trump’s tenure as evidence that media consolidation has too often favored corporate interests over competition and consumers.
