Trump flags antitrust risks in Netflix–Warner mega-merger

US President Donald Trump warned that Netflix’s proposed acquisition of Warner Bros. may face antitrust scrutiny, citing concerns over the company’s expanding market share. The USD 72–83 billion deal would reshape global streaming and has major implications for India’s digital entertainment market.

Washington: US President Donald Trump raised the possibility of antitrust hurdles for Netflix’s proposed acquisition of Warner Bros., warning that the streaming giant’s already dominant scale “could be a problem.”

The comments have sharpened global industry attention on a deal with significant implications for India’s fast-expanding digital entertainment market, where both companies have invested heavily.

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Speaking to reporters as he walked the red carpet at the Kennedy Centre Honours, Trump said of Netflix: “They have a very big market share. When they have Warner Bros., that share goes up a lot. So, I don’t know. That’s going to be for some economists to tell and also — and I’ll be involved in that decision too. But they have a very big market share.”

When pressed again by reporters about the merger, the president repeated the caution. “That’s for some economists to say… It is a big market share. It could be a problem,” he told reporters positioned along the entry corridor.

Netflix on Friday secured a deal to buy the Warner Bros. Discovery studio and HBO/HBO Max streaming franchise, prevailing over rival bids from Paramount/Skydance and Comcast.

The Washington Post and Wall Street Journal reports indicate the agreement is valued between $72 billion and $83 billion, making it one of the largest media acquisitions in decades. The transaction would place the Warner Bros. film and television library, HBO’s premium content, and associated digital assets under a single global streaming umbrella.

Trump confirmed Sunday that Netflix co-CEO Ted Sarandos met him in the Oval Office last week. While praising him personally — “I think he’s fantastic. I think, in the history of Hollywood, there’s almost nothing like what he’s done” — the president again returned to competitive concerns: “But it is a big market share, there’s no question about that. It could be a problem.”

Sarandos, according to the Washington Post, “didn’t say what measures he was ready to take to get the merger approved.”

The Wall Street Journal reported that Netflix and HBO Max together would command roughly 30 per cent of the US subscription streaming market following the acquisition, intensifying questions for regulators at the Justice Department and the Federal Trade Commission.

Antitrust lawyers quoted in those reports expect a full-scale review, with Netflix having committed to a $5.8 billion breakup fee should the deal collapse for legal reasons.

During his extended walk down the red carpet — where he also commented on architecture, his musical preferences, and the evening’s honorees — Trump reiterated that he would personally weigh in. “I’ll be involved in that decision,” he said.

While the president’s remarks were delivered at a cultural event, the potential regulatory pushback immediately reverberated in global markets where Netflix and Warner Bros. hold major distribution stakes.

India, one of Netflix’s fastest-growing non-US territories, is central to both companies’ long-term plans. Netflix has invested heavily in Hindi and regional-language originals.

At the same time, Warner Bros. Discovery continues to expand its South Asia studio pipeline and distribution footprint, especially around high-performance franchises and pay-TV content.

If approved, the Netflix–Warner combination would rank among the most consequential media deals of the decade. It has the potential to reshape content distribution, international release windows, and global investment flows in original production.