Netflix's proposed acquisition of Warner Bros. Discovery, valued at approximately $82 billion, has raised substantial concerns regarding its potential impact on market competition and consumer choice. The deal, which includes Warner Bros. Discovery's film studio and the streaming service HBO Max, has been met with skepticism from various stakeholders, including government officials and industry competitors.

Former President Donald Trump has indicated that the merger could pose problems due to the significant market share it would create, as Netflix already commands over 300 million subscribers. Trump stated he would consult with economists regarding the approval process, a move that is unusual for a sitting president, as such mergers typically do not require direct presidential involvement unless they raise significant antitrust concerns.

The Trump administration has expressed skepticism about the deal, with a senior official noting that it is viewed with 'heavy skepticism,' although specific objections were not detailed. Competing bids, particularly from Paramount Skydance, have also emerged, with their final offer valuing shares at $30 each. Paramount's representatives have communicated to Warner Bros. Discovery's attorneys that they believe the Netflix deal is unlikely to close due to anticipated regulatory challenges both domestically and internationally.

Senator Elizabeth Warren has publicly criticized the merger, labeling it an 'anti-monopoly nightmare' that could lead to increased prices, reduced choices for consumers, and potential job losses for American workers. She has urged the Justice Department to enforce antitrust laws transparently and without political favoritism.

The Writers Guild of America (WGA) has also condemned the merger, arguing that it contradicts antitrust principles designed to prevent such consolidations. They assert that the merger could result in job losses, wage reductions, and a decrease in the diversity of content available to viewers.

In defense of the acquisition, Netflix claims it would enhance customer choice and value, create opportunities for the creative community, and strengthen the entertainment industry. The boards of directors for both Netflix and Warner Bros. Discovery have unanimously approved the deal, which is expected to finalize after Warner Bros. Discovery separates its streaming and studio divisions into two publicly traded companies, anticipated to occur in the latter half of 2026. However, the deal's future remains uncertain as it navigates a complex regulatory landscape, with scrutiny from the U.S. Department of Justice's antitrust division and international regulatory bodies, including the European Commission.