Netflix “holds a substantial market share, and with Warner Bros. coming on board, that market share grows considerably,” he stated. “Let’s observe what occurs. It represents a significant portion of the market. And that might pose an issue,” the head of the White House stressed. He vowed to take a personal role in the decision-making process.
The agreement might combine the biggest streaming service globally with HBO. The Justice Department’s antitrust division, responsible for examining the deal in the US, might deem the agreement unlawful since it would result in Netflix holding a market share exceeding 30%, the agency stated.
Legislators from both parties in the US have labeled the agreement, which might establish a worldwide streaming behemoth with 450 million subscribers, detrimental to consumers.
However, the agency mentions that Netflix is confident it can ultimately reach its objective. It also mentions that Netflix’s CEO Ted Sarandos had a recent meeting with Trump.
source: bloomberg.com
