Trump flags concerns over USD72bil proposed deal

AWANI

U.S. President Donald Trump raises antitrust concerns over Netflix’s USD72 bil plan to acquire Warner Bros, as unions warn the merger could limit content diversity, eliminate jobs and drive prices up.

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00:00U.S. President Donald Trump has raised concerns over Netflix's planned $72 billion deal to buy

00:07Warner Brothers, warning the merger could create serious competition issues in the streaming

00:12market. He added that he would personally be involved if the deal reaches the Justice

00:19Department's competition division. Speaking in Washington, Trump said the combined market share

00:26of Netflix and Warner Brothers could be a problem. He stopped short of saying whether he supports or

00:32opposes the deal, noting economists would need to assess the competition risks. The proposed deal

00:39has already drawn criticism from industry groups, including the Writers Guild, which warns that

00:45allowing Netflix to absorb a major rival could reduce content diversity, eliminate jobs and push

00:52up prices for consumers. Netflix agreed on Friday to acquire Warner Brothers' TV, film and streaming

00:59assets, beating rivals including Comcast and Paramount. The deal would create one of the biggest

01:05media giants in decades, but now faces intense scrutiny from U.S. regulators over potential

01:12antitrust violations.

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