Donald Trump says $72bn Netflix takeover of Warner Bros 'could be a problem' amid wave of industry backlash
The deal could be completed as early as next year, but has faced massive industry backlash from filmmakers, producers and actors alike
Donald Trump has confirmed he plans to be “involved” in Netflix’s attempt to buy Warner Bros in a deal worth $72bn (£54bn) after a wave of film industry backlash.
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The US president said the deal “could be a problem” amid concerns over the streaming giant’s growing dominance in Hollywood.
Netflix announced on Friday that it had agreed a $72bn deal to purchase Warner Bros Discovery's TV and streaming divisions, including IP like Harry Potter, Game of Thrones and Batman.
The deal could be completed as early as next year, but has faced massive industry backlash from filmmakers, producers and actors alike.
Read more: US unions call for Netflix and Warner Bros Discovery merger to be blocked
The Writers Guild of America said: "The world's largest streaming company swallowing one of its biggest competitors is what antitrust laws were designed to prevent.
"The outcome would eliminate jobs, push down wages, worsen conditions for all entertainment workers, raise prices for consumers, and reduce the volume and diversity of content for all viewers."
Republican Senator, Roger Marshall, added: "Netflix's attempt to buy Warner Bros would be the largest media takeover in history - and it raises serious red flags for consumers, creators, movie theaters, and local businesses alike.
"One company should not have full vertical control of the content and the distribution pipeline that delivers it. And combining two of the largest streaming platforms is a textbook horizontal Antitrust problem.
"Prices, choice, and creative freedom are at stake. Regulators need to take a hard look at this deal, and realize how harmful it would be for consumers and Western society."
Announcing the deal, Ted Sarandos, the co-chief executive of Netflix, said: "By combining Warner Bros’ incredible library of shows and movies - from timeless classics like Casablanca and Citizen Kane to modern favorites like Harry Potter and Friends - with our culture-defining titles like Stranger Things, KPop Demon Hunters and Squid Game, we'll be able to do that even better.
"Together, we can give audiences more of what they love and help define the next century of storytelling."