"Anti-monopoly nightmare" - From Senator Warren to the WGA, Netflix & Warner Bros. merger raises rapid concerns across the board

Senator Elizabeth Warren has formally objected to Netflix’s proposed $83 billion acquisition of Warner Bros. Discovery, citing possible antitrust issues. According to Variety, Warren called the merger “an anti-monopoly nightmare,” arguing that merging the companies could give the combined entity control of “close to half of the streaming market.”

“This deal looks like an anti-monopoly nightmare, A Netflix–Warner Bros. would create one massive media giant with control of close to half of the streaming market — threatening to force Americans into higher subscription prices and fewer choices over what and how they watch, while putting American workers at risk,” Warren said.

Senator Warren's statement was issued after Netflix confirmed the planned purchase. She also urged the Justice Department to enforce federal antitrust laws during its review of the proposed merger. Alongside Warren’s comments, several lawmakers, entertainment unions, and industry figures have issued statements on the deal. The Writers Guild of America called for stopping this merger.

''The world’s largest streaming company swallowing one of its biggest competitors is what antitrust laws were designed to prevent, The outcome would eliminate jobs, push down wages, worsen conditions for all entertainment workers, raise prices for consumers, and reduce the volume and diversity of content for all viewers,'' WGA's statement read.

''Industry workers along with the public are already impacted by only a few powerful companies maintaining tight control over what consumers can watch on television, on streaming, and in theaters. This merger must be blocked.”

These responses include letters from elected officials, comments from guilds representing creative workers, and public remarks from former studio executives. Each has released its position separately as part of the public record surrounding the merger.

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Details of the Netflix and Warner Bros. deal

Netflix’s proposed acquisition is valued at approximately $83 billion. The deal would include Warner Bros.’ film and television studios, HBO, HBO Max, and a large library of intellectual property. Netflix currently reports having more than 300 million global streaming subscribers, while Warner Bros. Discovery finished Q3 2025 with 128 million subscribers across HBO Max, Discovery+, and its sports streaming services.

Ted Sarandos, co-CEO of Netflix, has expressed confidence in the merger’s potential. During an investor call earlier in the week, Sarandos said he was “highly confident” the acquisition would be approved and described the deal as “pro-consumer, pro-innovation, pro-worker, pro-creator.”

''We’re highly confident in the regulatory process. This deal is pro-consumer, pro-innovation, pro-worker, it’s pro-creator, it’s pro-growth, and you know, our plans here are to work really closely with all the appropriate governments and regulators, but we’re really confident that we’re going to get all the necessary approvals that we need.''

Netflix has stated that, at least initially, HBO Max and Warner Bros.’ studio operations will continue to operate independently. The company described the acquisition as a way to add Warner Bros.’ film and TV libraries to Netflix’s platform and suggested that it might explore bundled offerings that include HBO programming.

Before the acquisition can proceed, Warner Bros. Discovery must complete a previously announced restructuring plan that involves spinning off Discovery into a separate, publicly traded company. Once that restructuring is finalized, the proposed merger will undergo a federal antitrust review. The deal cannot close until regulators complete that process and determine whether the acquisition complies with US competition laws.

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