Trump says $72bn Netflix-Warner Bros deal ‘could be a problem’

US President Donald Trump has raised concerns over Netflix’s planned $72 billion acquisition of Warner Bros Discovery, a move that would unite HBO’s streaming platforms and major Hollywood franchises under the world’s largest subscription streaming service.

Speaking at an event in Washington, Trump said Netflix already holds a “very big market share” and that the company’s dominance would increase significantly if the merger goes ahead. He also noted that he would be personally involved in decisions related to approving the deal, suggesting an unusually direct role for the White House in what is typically a regulatory matter.

The agreement would give Netflix control of major global franchises including Harry Potter, Game of Thrones, The Matrix, Lord of the Rings, and Looney Tunes, further strengthening its content library. The deal is expected to close after Warner Bros completes its corporate split in the second half of 2026.

Industry experts say the combination of Netflix with Warner Bros’ HBO streaming operations is likely to be the key focus for antitrust regulators. While Netflix dominates streaming, some analysts argue that traditional cable TV and platforms like YouTube could be considered part of the broader competitive landscape.

Despite the concerns, experts expect the merger to be approved eventually, though regulatory concessions may be required. The Writers Guild of America has urged authorities to block the deal, warning that it could reduce jobs, harm workers’ conditions, raise prices, and limit content diversity for audiences.

Netflix reportedly outbid rivals such as Comcast and Paramount Skydance for the acquisition. Industry observers note that Trump’s comments signal that negotiations over the deal are likely to move through the White House, marking a notable shift in how major media mergers are handled.