US EditionWhite House Signals Heavy Skepticism over Netflix Bid for Warner Bros Discovery Assets
Sen. Murphy says the $82.7 billion Netflix bid for Warner Bros. Discovery risks reduced competition, higher prices, and threatens workers, movie theaters, and media diversity.
- On Saturday, Sen. Chris Murphy warned that Netflix's bid for Warner Bros. Discovery, placing HBO under Netflix, is `patently illegal` and `a disaster` for consumers, workers and the media landscape.
- Murphy wrote in a four-post thread on X that the deal fits consolidation types regulators intend to block and requires Justice Department and Federal Trade Commission approval.
- Deal paperwork shows Netflix would pay $5.8 billion if it withdrew and receive $2.8 billion if Warner Bros. Discovery backs out of the $27.75 per share, $82.7 billion offer Friday.
- Policymakers remain silent as Sen. Chris Murphy said some justify a Netflix deal to avoid a `cabal` involving Paramount Global and Trump, which he characterized as `patently illegal`.
- Murphy warned of media concentration's political consequences, noting some observers prefer Netflix fearing a Paramount Global takeover with CNN would be worse, risking Trump controlling mainstream media and eroding democracy.
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11 Articles
Dnevni list Danas
It sounds like a run-of-the-mill merger deal, but it has all the makings of a Hollywood drama.
Sen. Chris Murphy Shreds Potential Netflix Takeover of Warner Bros. Discovery: 'A Classic Antitrust Violation'
Sen. Chris Murphy warned Saturday that a bid by Netflix to purchase Warner Bros. Discovery — a deal that would place HBO under Netflix’s control — would be “a disaster” for consumers, workers and the media landscape, calling it “patently illegal” under U.S. antitrust law. Murphy, a Connecticut Democrat who sits on the Senate Foreign Relations Committee and has been increasingly vocal on media consolidation, issued a four-post thread on X critici…
Netflix is negotiating a huge $59 billion loan package to finance its acquisition of Warner Bros. Discovery — one of the largest corporate deals in the history of the media industry. The amount will cover the cash portion of a transaction valued at $83 billion, and the financing is coordinated by the American banking giant Wells Fargo, writes the Financial Times. Internal documentation of the operation, codenamed “Project Noble”, shows Wells Far…
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