US President Donald Trump on Sunday weighed in on Netflix’s massive effort to acquire Hollywood powerhouse Warner Bros., cautioning that the streaming giant already holds “a very large market share” and the takeover “could be a problem.”
Speaking to reporters as he arrived at the Kennedy Center Honors awards ceremony, Trump said he expects to play a direct role in determining whether federal regulators will approve the nearly $83 billion acquisition, a deal that has sparked intense antitrust scrutiny and drawn criticism from major Hollywood figures.
Trump also had warm words for Netflix co-CEO Ted Sarandos, who recently visited the White House. The president described Sarandos as someone who has achieved “one of the greatest jobs in the history of movies,” signalling both admiration and the political complexity surrounding the merger review.
If the deal goes through in its current structure, Netflix would absorb HBO Max as well as Warner Bros. Studios, the century-old film company behind iconic classics like Casablanca and Citizen Kane, and more recent global hits including Barbie.
The acquisition would dramatically expand Netflix’s content library, putting under its roof some of the most valuable franchises in entertainment:
- Harry Potter films
- The Lord of the Rings trilogies
- DC Studios superheroes, including Batman, Superman, and Wonder Woman
Such consolidation would give Netflix one of the most extensive catalogs in Hollywood history.
However, the deal would not include Warner Bros. Discovery’s linear television assets. Channels such as Discovery and CNN would be spun off into a separate entity before the sale is finalized, meaning Netflix would gain the studio and streaming business but not the traditional cable networks.
Warner Bros. Discovery formally placed itself on the market in October after receiving several unsolicited offers. Netflix ultimately outbid major competitors, including cable giant Comcast and media conglomerate Paramount Skydance.
Paramount’s David Ellison—who leads Skydance Media and is also a prominent supporter of President Trump—was among the high-profile industry leaders vying for the acquisition. His loss to Netflix adds another layer of intrigue to how the deal will be evaluated in Washington.