Key Moments
- More than a dozen UK politicians and former officials have called for a full review of Netflix’s Warner Bros Discovery deal.
- They warn the move could strengthen Netflix’s dominance in TV streaming.
- Meanwhile, Netflix has agreed to an $82.7 billion cash deal as Paramount launches a rival bid.
UK Lawmakers Push for Competition Review
Investing.com — More than a dozen UK politicians and former policymakers have urged the competition authority to review Netflix’s plan to buy Warner Bros Discovery. According to the Financial Times, the proposed deal is valued at about $83 billion.
In a letter to regulator chief Sarah Cardell, the group raised concerns about market power. Specifically, they said the deal could cement Netflix’s leading position in streaming.
Concerns Over Market Power and Industry Impact
The Financial Times reported that lawmakers fear a loss of competition. In particular, they warned of harm to consumers and the UK’s creative sector. As a result, the cinema industry could also face added pressure.
Deal Structure and Competing Bid
Netflix has agreed to pay $82.7 billion in cash for Warner Bros Discovery’s film and TV studios. However, Netflix is not the only bidder. At the same time, U.S. rival Paramount has made a hostile offer.
| Aspect | Details |
|---|---|
| Deal value cited | $83 billion |
| Agreed cash offer | $82.7 billion |
| Assets involved | Film and TV studios |
| Rival bidder | Paramount |
Antitrust Debate Around Streaming Leadership
Critics have long raised antitrust concerns about Netflix’s size. Notably, it remains the world’s largest streaming platform by subscribers. Therefore, the deal has intensified calls for closer regulatory scrutiny.
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