Warner Bros. Discovery

Television Subscription and International
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Sen. Mike Lee (R-Utah), who is chairman of the Senate Judiciary Subcommittee on Antitrust, Competition Policy and Consumer Rights, has previously expressed skepticism about Netflix’s deal to buy Warner Bros.

The senator previously indicated plans to hold a hearing on the Netflix-WB deal, claiming there were “A lot of antitrust red flags here.” Writing on X shortly after Netflix and Warner Bros. Discovery announced their agreement on Dec. 5, Lee said, “Buckle up for an intense antitrust hearing in the Senate.”

Democrats have spoken out against the Netflix-WB pact as well. Last month Sen. Elizabeth Warren (D-Massachusetts) called it “an anti-monopoly nightmare.”

The merger of Netflix-Warner Bros. “would create one massive media giant with control of close to half of the streaming market — threatening to force Americans into higher subscription prices and fewer choices over what and how they watch, while putting American workers at risk,” Warren said at the time.

The WGA warned that the $83 billion Netflix-WB deal would eliminate jobs, reduce wages — and raise prices for consumers.

“The world’s largest streaming company swallowing one of its biggest competitors is what antitrust laws were designed to prevent,” the guild said in a statement.

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A Senate committee will examine the proposed Netflix acquisition of Warner Bros at a hearing scheduled for next week, with co-CEO Ted Sarandos scheduled to testify.

The hearing before the Senate Judiciary antitrust subcommittee will be held February 3, a spokesperson for Sen. Mike Lee (R-UT) confirmed. Lee is the chairman of the subcommittee, and Sen. Cory Booker (D-NJ) is the ranking member.

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In this op-ed, executive chair of Meerkat Media Lee Stephens, breaks down the ins and outs of the Warner Bros and Netflix proposed buyout, Paramount’s hostile retaliation bid and how all of this will impact both Australian media but also Australian cinema.

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Paramount on Tuesday said it will add an “incremental cash consideration” to WBD shareholders of 25 cents per share, equivalent to approximately $650 million cash value each quarter, for every quarter the proposed Paramount acquisition is not closed beyond Dec. 31, 2026. The extra “ticking fee” reflects the confidence of Ellison and his team that a Paramount-WBD deal will have a smoother path to regulatory approval than Netflix’s merger with Warner Bros.

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He needs to get a life.

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To be fair most analysts report the para offer is the more financially sound bid. And there is unfair bias in WBD selecting Netflix.

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