Netflix co-CEO Ted Sarandos is set to appear before a Senate committee next month to address concerns surrounding the streaming giant’s $83 billion acquisition of Warner Bros.’ studios and streaming business. Joining Sarandos at the hearing will be Warner Bros. Discovery chief strategy officer Bruce Campbell, as confirmed by Variety. The exact date of the hearing has not yet been determined.
Senator Mike Lee, chairman of the Senate Judiciary Subcommittee on Antitrust, Competition Policy, and Consumer Rights, has expressed doubts about the Netflix-Warner Bros. deal, citing potential antitrust issues. He previously announced plans to hold a hearing on the matter, stating that there are “a lot of antitrust red flags” surrounding the acquisition.
In response to the proposed merger, Democrats including Senator Elizabeth Warren have voiced concerns about the impact it could have on the streaming market. Warren described the deal as “an anti-monopoly nightmare,” warning that it could lead to higher subscription prices and fewer choices for consumers, as well as putting American workers at risk.
Netflix currently boasts over 325 million streaming subscribers worldwide, while Warner Bros. Discovery had 128.0 million streaming subscribers as of September 2025. Despite these numbers, David Ellison’s Paramount Skydance continues to push for a hostile takeover of Warner Bros. Discovery and has urged shareholders to reject the Netflix deal, arguing that it would further consolidate market power and harm competition.
Hollywood groups, including the Writers Guild of America, have also criticized the Netflix-Warner Bros. deal, claiming it could result in job losses and increased consumer prices. Additionally, theater-owner trade group Cinema United has warned that the merger could lead to theater closures and layoffs.
Both Netflix and Warner Bros. Discovery have expressed confidence that their agreement will receive regulatory approval. In a letter to shareholders, Sarandos and co-CEO Greg Peters emphasized the deal’s benefits for consumers, innovation, workers, creators, and competition.
Regarding antitrust concerns, Netflix has positioned itself as a competitor in the broader TV viewing landscape, highlighting its share of total U.S. TV watch time compared to platforms like YouTube. The company has emphasized its commitment to competition and earning consumers’ attention in a competitive market.
Netflix and Warner Bros. Discovery have submitted antitrust filings and are engaging with competition authorities, including the U.S. Justice Department and the European Commission. Both companies are committed to working closely with regulators to ensure a smooth transaction.
In a recent development, Netflix revised its offer for Warner Bros. Discovery to an all-cash deal, replacing the previous cash-and-stock agreement. This move was aimed at addressing concerns raised by Paramount and demonstrating the strength of Netflix’s proposal in the competitive landscape.
