Netflix-Warner Bros Deal Sparks Antitrust Concerns

U.S. Senator Elizabeth Warren has criticized Netflix's $72 billion acquisition of Warner Bros Discovery as an antitrust 'nightmare', arguing that it would harm consumers and workers by decreasing competition. The deal faces bipartisan scrutiny and is expected to undergo significant review by U.S. and EU antitrust authorities.

The $72 billion acquisition of Warner Bros Discovery by Netflix has drawn significant antitrust criticism from U.S. Senator Elizabeth Warren. She described the deal as a 'nightmare', forecasting potential harm to both consumers and workers by reducing competition and limiting choices.

Despite Netflix's claim that the merger would benefit its 300 million subscribers with more content, Warren and other Democrats, alongside Republican lawmakers, are urging close scrutiny. Concerns revolve around Netflix's potential market dominance and the impacts on subscription prices and content diversity.

Antitrust authorities in the U.S. and EU are expected to conduct thorough reviews of the merger, given the massive market share involved. Netflix is optimistic, arguing the deal is growth-focused and consumer-friendly, but political and regulatory challenges loom large.

(With inputs from agencies.)