Antitrust Law Daily Wrap Up, ACQUISITIONS & MERGERS NEWS: Congressman Issa expresses antitrust concerns over possible Netflix bid for Warner Brothers/ Discovery, (Nov 18, 2025)
Organizations Mentioned:Netflix | Warner Bros./Discovery
By Peter Reap, J.D., LL.M.
His letter to the Justice Department and FTC warned of a combination that would have a greater than 30 percent share of the streaming market.
Congressman Darrell Issa (R-CA), Senior Member of the House Judiciary Committee and Chairman of its Subcommittee on Intellectual Property, Artificial Intelligence and the Courts, wrote Attorney General Pam Bondi, Assistant Attorney General for the Antitrust Division Gail Slater, and FTC Chairman Andrew Ferguson to express antitrust concerns over reports of Netflix potentially acquiring the studio and streaming properties of Warner Bros./Discovery. In the letter, Issa argued that Netflix is already the dominant streaming platform in the United States and that allowing it to acquire a major competitor like Warner Brothers/ Discovery could harm consumers by resulting in both higher prices and reduced incentives to produce new content.
In the letter, Rep. Issa stated:
With more than 300 million global subscribers and a vast content library, Netflix currently wields unequaled market power. Adding both HBO Max’s subscribers and Warner Bros.’ premier content rights would further enhance this position, reportedly pushing the combined entity above a 30 percent share of the streaming market: a threshold traditionally viewed as presumptively problematic under antitrust law.
He added that the merger would reduce incentives to produce new streaming content and major theatrical releases. Thus, it could result in fewer opportunities for industry professionals who work on both sides of the camera.
Warner Bros./Discovery announced in October 2025 that it was evaluating acquisition offers from multiple parties. Netflix, Paramount, and Comcast are widely reported to be active in the competition to acquire Warner Bros./Discovery, which has set a Nov. 20 deadline for the first round of competing offers.
Companies: Netflix; Warner Bros./Discovery
News: Antitrust AcquisitionsMergers AntitrustDivisionNews FederalTradeCommissionNews