On December 7, 2025, President Donald Trump commented on the proposed $72 billion merger between Netflix and Warner Bros. Discovery, indicating that it "could be a problem" due to the significant market share the combined entity would command. The total value of the deal exceeds $82 billion when accounting for debt. Netflix plans to acquire Warner Bros. Discovery's film studio, HBO, and the streaming service HBO Max, while excluding cable networks such as CNN and TNT from the transaction.

Trump noted that the merger would increase Netflix's already substantial market share, as the company currently boasts over 300 million subscribers, making it the leading streaming service. He stated that he would consult with economists regarding the deal's approval process, which is atypical for a sitting president, as such mergers usually do not require direct presidential involvement unless they raise significant antitrust concerns.

The merger may require approval from the U.S. Department of Justice's antitrust division and could also face scrutiny from international regulatory bodies, including the European Commission. During his presidency, Trump has influenced corporate interactions with the federal government, and it was reported that Netflix co-CEO Ted Sarandos met with Trump in mid-November to discuss the merger, a strategy often employed by corporate leaders seeking favorable regulatory outcomes.

Trump confirmed the meeting with Sarandos, describing him positively but noting that no commitments were made during their discussion. He compared Netflix's trajectory to that of MGM, which was acquired by Amazon during the Biden administration without challenge from regulators.

In July, the Trump administration approved a merger between Paramount Global and Skydance, which involved negotiations that included a financial agreement related to a CBS News interview with former Vice President Kamala Harris. Paramount also agreed to modify its diversity and inclusion initiatives as part of the deal.

The merger announcement has drawn criticism from Senator Elizabeth Warren, who labeled it an "anti-monopoly nightmare," reflecting ongoing concerns about corporate consolidation and its implications for competition and consumer choice in the media landscape.