US President Donald Trump has issued a warning following the news that Netflix is set to buy Warner Bros Discovery in a £54billion takeover.
It was announced last week that Netflix is acquiring Warner Bros for £54b, pending competition authority approval
The deal, which still has to be approved by a board of federal regulators, will combine Warner Bros’ library of film and television series (including HBO Max) with Netflix’s catalogue.
This merger is set to be huge in the industry, but when asked about the deal, Trump revealed concerns.
When asked if Netflix should be allowed to buy Warner Bros, Trump replied: ‘Well, that’s the question.
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‘They have a very big market share, and when they have Warner Bros, you know, that share goes up a lot, so, I don’t know. That’s going to be for some economist to tell.’
The President confirmed he would be involved in the decision about whether the US federal government should approve the takeover, commenting: ‘I’ll be involved in that decision, too. But they have a very big market share.’
He also praised Netflix chief executive Ted Sarandos: ‘Netflix is a great company. They’ve done a phenomenal job. Ted is a fantastic man.
‘I have a lot of respect for him, but it’s a lot of market share, so we’ll have to see what happens.’
Warner Bros. president and chief executive David Zaslav described the agreement as a coming together of ‘two of the greatest storytelling companies in the world.’
He continued: ‘By coming together with Netflix, we will ensure people everywhere will continue to enjoy the world’s most resonant stories for generations to come.’
The Writers Guild of America West (WGAW) and Writers Guild of America East (WGAE)issued a joint statement on Friday, urging regulators to stop the deal.
The groups, which represent writers across film and TV and other media, claim the deal would eliminate jobs, push down wages and worsen conditions for entertainment workers.
Netflix is behind huge franchises including: Stranger Things, The Crown, The Witcher, Bridgerton, and The Sandman.
Warner Bros is behind some impressive film franchises, including Harry Potter and DC comic book superheroes Batman and Superman.
All the biggest properties Netflix will get from Warner Bros
Properties owned by Warner Bros which would fall under Netflix’s control include:
The Wizard of Oz
Adult Swim
Beetlejuice
The Big Bang Theory
Casablanca
Citizen Kane
The Conjuring
DC Comics (Batman, Superman, Wonder Woman)
Final Destination
Friends
Game of Thrones
Gremlins
The Goonies
Harry Potter
HBO / HBO Max
IT
The Matrix
MonsterVerse (distribution rights only)
Mortal Kombat
Rick and Morty
Scooby Doo
Ocean’s 11
WB Games (TT Games, Netherrealm, Rocksteady)
Warner Bros. also owns the streaming service HBO Max, which airs Game of Thrones (and all of its spin-offs), The Last Of Us, The Sopranos, The White Lotus and Succession.
Under its film and television umbrella comes Warner Bros. Pictures, New Line Cinema, Warner Bros. Pictures Animation, Castle Rock Entertainment and the Warner Bros. Television Group.
The proposed deal would close after Warner Bros Discovery completes a proposed spin-off of its cable channels. Thisincludes CNN, TBS and TNT Sports in the UK.
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