Netflix’s huge deal to buy Warner Bros. Discovery’s studios and streaming arm has shocked Hollywood – and now President Donald Trump is adding a political twist by warning the deal may face tough antitrust checks.
The $72–83 billion agreement could reshape the streaming world by putting Netflix, HBO, and big film franchises like DC and Harry Potter under one roof, while the White House signals “heavy skepticism” about the merger’s power.
What the deal includes
Today, Netflix announced our acquisition of Warner Bros. Together, we’ll define the next century of storytelling, creating an extraordinary entertainment offering for audiences everywhere. https://t.co/rXPFMNIs1A pic.twitter.com/0pdsMUEob8
— Netflix (@netflix) December 5, 2025
The deal has seen Netflix purchase the film and TV studios, as well as the streaming business of Warner Bros. Discovery, including HBO and HBO Max, in a cash-and-stock transaction that was worth approximately 72-83 billion dollars. It excludes cable channels such as CNN and TNT Sports that Warner Bros Discovery intends to sell as a separate business.
This step would propel Netflix to a colossal amount of content, including old movies, popular series like DC superhero movies, Harry Potter, and those on HBO.
According to Netflix executives, this merger would commit the newly formed company to put more funds into original productions and continue to send major productions by Warner Bros. to theatres, not just online.
Why it matters for streaming
If regulators approve the deal, Netflix would control one of Hollywood’s oldest studios and one of its top premium TV brands at the same time. Analysts say this could give Netflix close to half of the streaming market, raising big questions about competition and pricing for viewers.
For customers, the companies suggest there could be more shows in one place and possibly bundled offers that combine Netflix and HBO-style content. But critics warn that less competition might mean higher subscription fees and fewer choices as rival platforms struggle to keep up.
Trump’s antitrust twist
The Trump administration has signaled “heavy skepticism” about the size and impact of the Netflix–Warner Bros. deal. A senior official said the White House is closely watching the merger review, and Trump has hinted the transaction will face serious antitrust scrutiny.
Speaking during the Kennedy Center Honors weekend, Trump praised Netflix as a “great” company but said its combined market share with Warner Bros. could be a problem and promised to be “involved” in the decision.
His comments remind many of his previous battles over big media mergers, raising fears the process could become highly political and possibly slow or reshape the deal.
Political and industry pushback
Prominent Democrats, including Senator Elizabeth Warren, call the merger an “anti-monopoly disaster” and argue that such a giant media company would hurt consumers and workers.
Warren also accuses the Trump administration of turning antitrust reviews into a “cesspool” of political favoritism and urges officials to apply the law fairly and transparently.
Moviemaker unions and theater proprietors fear that Netflix and Warner Bros. merging would alter the film issuance and licensing scheme all over the globe. There is a concern that the independent cinema and smaller streaming competitors will fail when one platform possesses so many big franchises and high-end programs.
What happens next for viewers
The acquisition has to be reviewed by U.S. regulatory bodies and needs to be approved by shareholders of Warner Bros. Discovery before it is allowed to close, which may require 12 to 18 months or longer.
Netflix has also committed to paying a significant breakup fee in case of a failure in the transaction, which demonstrates that it takes the purchase seriously.
For now, nothing changes for users, and HBO Max and Netflix continue to run separately. If the deal is approved, customers might eventually see HBO and Warner Bros. content appear inside Netflix, new bundles, or a combined platform – but all under the shadow of Trump’s antitrust warnings and a heated political fight over media power.