US President Donald Trump has voiced concern over the proposed blockbuster deal by Netflix to acquire Warner Bros Discovery’s movie studio and HBO streaming operations, calling the planned $72 billion merger “potentially problematic.”
With Netflix already commanding a “very big market share,” the merger — which will fold all of Warner Bros’ major film and TV franchises into a single streaming platform — could, he warned, concentrate too much power in one company.
Under the agreement, iconic franchises such as Harry Potter, Game of Thrones, The Matrix, The Lord of the Rings, and Looney Tunes — along with countless other globally recognised properties — would become part of Netflix’s catalogue. Having launched in 1997 as a DVD-by-mail rental service, Netflix is today the world’s largest subscription streaming service. This acquisition would further cement its dominant position. The companies expect to complete the merger after Warner Bros completes a planned business split, likely in the second half of 2026.
Officials from the US Department of Justice (DOJ) have yet to approve the deal. The agency’s competition division could challenge the merger on antitrust grounds if regulators believe the combined firm has too much control over the streaming market.
At an event on Sunday, Trump said he would personally weigh in on the final decision. He also noted that Netflix co-CEO Ted Sarandos recently visited him at the White House.
Backlash is already mounting from industry voices. Both branches of Writers Guild of America have urged regulators to block the deal, warning that it could lead to job losses, lower wages, diminished working conditions, higher prices for consumers, and a reduction in the diversity of content available to audiences.
While Netflix’s acquisition of Warner Bros could create a media giant arguably unmatched in scale, the merger remains under strict scrutiny — not just from regulators, but from cultural gatekeepers and industry workers concerned about what the future of entertainment might look like.