United States President Donald Trump confirmed that Netflix had reached an agreement to buy Warner Bros. Discovery “could be a problem” due to the size of the combined market share.
“There’s no doubt about it,” Trump said, answering questions about the deal and other topics as he walked the red carpet at the Kennedy Center Honors on Sunday evening.
That’s what the Republican president said is included in the decision about whether the federal government should agree to the $72 billion deal.
If the regulators approve, the merger will take place would bring two of the world’s largest streaming services under common ownership and would combine Warner’s television and film divisions, including DC Studios the huge Netflix archive and its production branch.
The agreement that could reshape the entertainment industryYou have to “go through a process and we’ll see what happens”Trump commented.
“Netflix is a great company. They’ve done a phenomenal job.” Ted is a fantastic manHe said, referring to the CEO of Netflix: Ted Sarandosnoting that they met in the Oval Office last week before the deal was announced on Dec. 5.
“I have a lot of respect for him, but It’s a big market share, So we have to wait and see what happens.
Asked whether Netflix would be allowed to buy the Hollywood giant behind the “Harry Potter” films and HBO Max, the president replied: “Well, that’s the question.”
“They have a very large market share and if they have Warner Bros. that share will increase significantly, so I don’t know,” he said. “Also I will be involved in this decision. But they have a very large market share.”
Sarandos made no guarantees at their meeting about the merger if it was approved, Trump said, adding that the executive was a “great person” who had “done some of the best work in the history of movies and other things.”
He reiterated that a merger would give the company “tremendous market share.”
“There’s no doubt about it. It could be a problem,” Trump said.
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