Trump says if Netflix buys Warner Bros. its market share ‘could be a problem’

After Netflix announced the acquisition of Warner Bros. Discovery last week, observers immediately wondered when and if the deal might gain regulatory approval. Today, President Trump made comments indicating that this approval would likely take some time, if it happened, Bloomberg reported.

“Well, it has to go through a process, and we’ll see what happens,” Trump told reporters during a recent question-and-answer session. “But it’s a significant market share. That could pose a problem.” The president added that he would be personally involved in the approval process.

As we noted last week, Netflix and HBO Max together would account for about 33% of the U.S. streaming video market, ahead of Prime Video’s 21% share and likely enough to attract the U.S. Department of Justice’s antitrust division. For its part, Netflix said it would “maintain current Warner Bros. operations.” ”, which include HBO Max and HBO, theatrical film releases as well as film and television studio operations.

With any deal likely to have headwinds, in November Netflix co-CEO Ted Sarandos reportedly met with Trump at the White House, saying the acquisition would not create a monopoly. Trump said Warner Bros. Discovery is expected to sell to the highest bidder, and Sarandos left the meeting feeling that Netflix would not face opposition from the White House in the short term.

Even before regulators address the acquisition, more drama could arise. Paramount, which first expressed interest in buying WBD when it wasn’t even for sale, could launch a hostile bid. And Hollywood unions and guilds are up in arms over fears that Netflix could significantly undercut Warner Bros. theatrical distribution, as well as its final profits and production jobs.