Trump Warns Netflix Warner Bros Merger May Face Antitrust Trouble

President Donald Trump is raising red flags over Netflix’s stunning $82.7 billion bid to acquire Warner Bros., warning that the massive merger could trigger antitrust concerns due to the company’s already dominant share of the streaming market.

Speaking from the red carpet at a Kennedy Center event over the weekend, Trump praised Netflix CEO Ted Sarandos as a “fantastic man” and acknowledged the company’s success but made it clear that size still matters when it comes to competition.

“They have a very big market share, and when they have Warner Bros., you know, that share goes up a lot,” Trump said. “So, I don’t know. I’ll be involved in that decision, too.”

Trump's comments signal that the deal will likely face serious scrutiny from the Justice Department’s Antitrust Division, which has already been tasked with reviewing potential monopolistic behavior under the new administration’s more aggressive enforcement approach.

The acquisition would give Netflix control over Warner Bros.’ legendary film and TV studios, as well as the entire HBO ecosystem including HBO Max. That’s a content empire spanning from Game of Thrones to The Dark Knight, all folded under a single streaming titan that already commands roughly 30% of global streaming traffic, according to data from Digital TV Research.

While Netflix tried to soothe critics by claiming Warner Bros. would maintain its theatrical release strategy and operate “as is,” the sheer size of the content consolidation is sparking concern. Industry insiders fear it could choke out competition, raise licensing costs for smaller platforms, and further entrench woke content in entertainment pipelines.

Enter Paramount. On Monday, the studio led by David Ellison, son of Trump ally Larry Ellison submitted a counteroffer described as “superior” in both value and speed. The bid includes an additional $18 billion in cash and emphasizes a faster regulatory pathway. It’s a savvy political and financial play that could appeal to regulators looking to avoid further tech consolidation.

Trump’s involvement matters. Under his second-term leadership, the DOJ has already cracked down on Big Tech’s anti-competitive practices and signaled a shift away from corporate favoritism that flourished during the Biden administration. The Netflix-Warner merger is shaping up to be an early test of how this White House will balance free-market principles with the need to prevent media monopolies.

Some quick context:

• Netflix’s market cap sits at over $250 billion, already dwarfing most entertainment companies.

• Warner Bros. holds one of the largest content libraries in the world, including over 100 years of film and television IP.

• The deal would combine two of the top five streaming services in the U.S. HBO Max and Netflix under a single corporate roof.

For conservatives, the merger raises deeper questions about media control and narrative influence. With Netflix’s left-leaning content portfolio and political bent already widely criticized, absorbing Warner Bros. could tighten the ideological grip on American culture and entertainment.

“We’ll have to see what happens,” Trump said when pressed again on whether the deal should go through. But the message was clear. This isn’t a rubber-stamp administration.

If approved, the acquisition isn’t expected to finalize until Q3 2026, after Warner Bros. completes its spin-off from Discovery Global. That gives the Trump administration time to weigh its options and to determine whether the future of entertainment will be ruled by mega-mergers or real competition.

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