Trump says Netflix's huge deal for Warner Bros. 'could be a problem'

By Mike Murphy

President Donald Trump and first lady Melania Trump arrive for the 48th Kennedy Center Honors gala Sunday.

Comments by President Donald Trump on Sunday raised an antitrust red flag over Netflix's $72 billion deal to acquire Warner Bros. Discovery.

Speaking to reporters before an event at the Kennedy Center in Washington, Trump said a combination between the largest and fourth-largest streaming services in the U.S. "could be a problem."

"They have a very big market share," Trump told reporters, referring to Netflix. "And when they have Warner Bros., that share goes up a lot."

"I'll be involved in that decision," Trump added.

A combined Netflix and HBO Max would control roughly 30% of the U.S. streaming market, though Netflix has argued that platforms such as YouTube, TikTok and Facebook should be added to the mix as rivals for viewership, which would greatly dilute Netflix's market share.

Also read: What does Netflix's offer to buy HBO Max mean for you?

Earlier Sunday, Bloomberg News reported that Netflix co-CEO Ted Sarandos met with Trump in November, prior to the merger announcement, seeking to clear its regulatory path and arguing that Netflix did not have a streaming monopoly.

"I have a lot of respect for him," Trump said Sunday, of Sarandos. "He's a great person. But he's done one of the greatest jobs in the history of movies and other things. ... But it is a big market share, there's no question about it. It could be a problem."

The deal, announced Friday, is expected to take 12-18 months to close, assuming it can clear regulatory hurdles. Under the agreement, Netflix will acquire Warner Bros.'s studio and streaming operations, while Warner's cable TV business will be spun off.

Netflix shares (NFLX) fell nearly 3% on Friday after the announcement, while WBD stock (WBD) jumped more than 6%.

More: Did Paramount end up burning down its own house with its pursuit of Warner Bros. Discovery?

-Mike Murphy

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12-07-25 2054ET