New York Post·2025-12-03 23:12Core Viewpoint - Netflix is pursuing a significant acquisition of Warner Bros. Discovery (WBD), which includes its Hollywood studio and streaming service, but faces opposition from the Trump administration and the Justice Department due to antitrust concerns [1][2][4]. Acquisition Details - Netflix's bid is primarily cash-based, while competitors like Paramount Skydance are offering all cash at a price of $25 per share or more [16]. - WBD is currently valued between $60 billion and $70 billion, more than double its value before the auction process began [17]. Antitrust Concerns - The Justice Department's antitrust division is preparing for a potential multiyear investigation if Netflix wins the bidding, as officials are worried about the increased market power it would gain [3][4]. - The merger would combine Netflix's 300 million subscribers with HBO Max's 100 million, creating a streaming entity significantly larger than its nearest competitor, Disney [4][11]. Industry Reactions - Officials are comparing the potential Netflix-WBD deal to Ticketmaster acquiring a major venue, raising concerns about pricing power and market control in the entertainment industry [7][10]. - There is skepticism from senior officials in the White House and the Justice Department regarding Netflix's claims that the deal would not violate antitrust laws [3][10]. Competitive Landscape - Other bidders include Paramount Skydance and Comcast, with Comcast's offer being less attractive to shareholders due to its cash and stock combination [11][16]. - The auction is in its second round, with a decision on the winner potentially being announced soon, although a third round of bidding could occur to increase the sale price [12][11].