President Donald Trump has announced that he will not be personally involved in the Justice Department’s antitrust review of Netflix’s proposed acquisition of Warner Bros. Discovery. In an interview with NBC News anchor Tom Llamas, Trump stated that he has decided to leave the process to the Justice Department, despite previously indicating that he would be involved in the decision-making process.
The $83 billion merger agreement between Netflix and WBD has raised concerns about its potential impact on the streaming TV marketplace. Trump acknowledged the complexity of the proposed merger and the significant antitrust concerns surrounding it. He also mentioned the ongoing competition between Netflix and Paramount Skydance, as Paramount Skydance continues to pursue WBD away from Netflix.
While Trump has been contacted by both sides involved in the transaction, he has ultimately decided to let the Justice Department handle the review process. “I must say, I guess I’m considered to be a very strong president. I’ve been called by both sides. It’s the two sides, but I’ve decided I shouldn’t be involved. The Justice Department will handle it,” Trump said in the interview preview aired by NBC News.
The President emphasized that the battle between the two companies involved in the merger is fierce, with each side arguing its case. “There’s a theory that one of the companies is too big and it shouldn’t be allowed to do it, and the other company is saying something else,” Trump explained. “They’re beating the hell out of each other – and there’ll be a winner.”
Overall, Trump’s decision to step back from the antitrust review process reflects the complexity and significance of the proposed merger between Netflix and Warner Bros. Discovery. By entrusting the Justice Department to handle the review, Trump aims to ensure a fair and impartial assessment of the deal’s impact on the streaming TV industry.
