Netflix and Warner Bros Face Scrutiny Over Proposed Merger
Netflix and Warner Bros Discovery faced tough questions from U.S. senators regarding their proposed $82 billion merger, with lawmakers expressing concerns about reduced competition, potential price increases, and the future of cinemas. The Senate antitrust subcommittee hearing on Tuesday included both Democrats and Republicans who voiced skepticism about the deal's benefits to consumers, workers, and the broader entertainment industry, according to BBC Technology.
The merger, currently under review by the Department of Justice (DoJ), would combine two of the largest entertainment companies in the world. Ted Sarandos, chief executive officer of Netflix, and Bruce Campbell, chief revenue and strategy officer at Warner Bros Discovery, were sworn in during the hearing. Lawmakers questioned whether the merger would lead to higher prices for consumers and whether it would harm smaller entertainment companies.
The BBC Technology reported that the senators raised concerns about the potential impact on the entertainment industry if the merger goes ahead. The deal is under review by the Department of Justice (DoJ).
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