US President Donald Trump has raised potential antitrust concerns over Netflix’s $72 billion (£54 billion) plan to acquire Warner Brothers Discovery’s movie studio and HBO streaming networks. Speaking at an event at the John F. Kennedy Center in Washington DC on Sunday, Trump said the combined size of the companies “could be a problem” given Netflix’s already “very big market share.” He added that the company’s market dominance would “go up by a lot” if the deal proceeds.
Netflix and Warner Bros announced the agreement last Friday, which would bring major franchises including Harry Potter, Game of Thrones, The Matrix, Lord of the Rings, and Looney Tunes to Netflix. The deal is expected to be completed after Warner Bros splits its business in the second half of 2026. If approved, it would cement Netflix’s position as the world’s largest subscription streaming service, a title it has held since its launch in 1997 as a postal DVD rental business.
The proposed merger is subject to review by the US Justice Department’s competition division, which examines whether major deals violate antitrust law. Analysts say the merger could be scrutinized because the combination of Netflix and Warner Bros’ HBO streaming service would consolidate a significant portion of the streaming market.
Trump said he would be personally involved in any decision regarding approval. He also noted that Netflix co-CEO Ted Sarandos recently visited the Oval Office, praising his work at the company. “I have a lot of respect for him. He’s a great person,” Trump said, acknowledging Sarandos’ contribution to the film industry.
Industry experts have highlighted that while the merger would strengthen Netflix’s streaming dominance, the broader market includes competitors such as cable, broadcast television, and YouTube, which remains the world’s largest content platform. Blair Westlake, a former media executive, told the BBC that regulatory concerns will focus primarily on the streaming overlap between Netflix and HBO. He predicted the deal would likely be approved but noted concessions may be required.
The merger has already drawn criticism from industry groups. The Writers Guild of America’s East and West branches urged regulators to block the deal, arguing it could eliminate jobs, reduce wages, and diminish content diversity.
Netflix competed against several rivals for Warner Bros, including Paramount Skydance. Paramount had attempted to acquire Warner Bros’ entire operation, including cable networks, but was rejected before Warner Bros pursued the Netflix deal.
Bill Kovacic, former chair of the Federal Trade Commission, said Trump’s comments signal an unprecedented level of presidential involvement in what is usually a technical merger review. “We’re going to have probably a deep level, an unprecedented level of presidential control in the resolution of what used to be a technical analysis of a merger,” he said.
As the deal awaits regulatory approval, industry observers are closely watching both antitrust deliberations and the potential influence of the White House on the outcome.
