Netflix and Warner Bros. Discovery faced scrutiny from U.S. Senators on Tuesday regarding their proposed $82 billion merger, as lawmakers voiced concerns about potential anti-competitive effects. The Senate antitrust subcommittee, comprised of both Democrats and Republicans, questioned Netflix executives about the deal's potential impact on consumers, workers, and the entertainment industry, according to BBC Business.
The merger, currently under review by the Department of Justice (DoJ), raised worries about reduced competition, potential price increases, and the future of cinemas, BBC Technology reported. Lawmakers expressed skepticism that the takeover would ultimately benefit the public.
In other news, gold prices experienced volatility on Wednesday following the downing of an Iranian drone by the U.S. military. The price of gold, often considered a "safe haven" for investors during times of uncertainty, rebounded above $5,000 an ounce, according to BBC Business. The jump to $5,059 per ounce left the price of gold around $80 higher than the same time last year. The increase followed days of sharp falls.
Meanwhile, in Michigan, a Detroit Lions fan, Ryan Kennedy, filed a $100 million lawsuit against Pittsburgh Steelers wide receiver DK Metcalf following an altercation at Ford Field in December. According to Fox News, Kennedy and his legal team held a news conference in Farmington Hills, Michigan, on December 26 to announce the lawsuit, which was filed in Wayne County Court.
Separately, rights groups are raising concerns about the detention of two Chinese investigative journalists, Liu Hu and Wu Yingjiao, after they reportedly exposed corruption by a senior official in Sichuan province. BBC World reported that the independent journalists were taken by police on Sunday. Critics have long voiced concerns about media repression in China, where authorities have arrested and prosecuted journalists, accusing them of causing trouble. Chengdu police said on Monday that two men, identified by their surnames Liu and Wu, were detained.
Discussion
AI Experts & Community
Be the first to comment