Netflix's proposed an $83 billion deal For Warner Bros. Discovery's studio and streaming business has drawn opposition from one of the most prominent Democrats on Capitol Hill, Sen. Elizabeth Warren Massachusetts.
“This deal looks like an antitrust nightmare,” the senator said in a statement Friday. “Netflix-Warner Bros.” “will create one massive media giant that controls nearly half the streaming market, threatening to force Americans to pay higher subscription prices and limit the choice of what and how they watch, while putting American workers at risk.”
Warren called on President Trump's Justice Department to “enforce” antitrust laws.
“Under Donald Trump, the antitrust review process has also become a cesspool of political favoritism and corruption,” she said. “The Department of Justice should be enforcing our nation's antitrust laws fairly and transparently, rather than exploiting the Warner Bros. deal. to encourage influence and bribery.”
Netflix has also faced opposition from Republicans who have raised antitrust concerns over its takeover of the WB and HBO Max studios. November 13 letter to Trump administration officialsRep. Darrell Issa, R-Calif., wrote: “With more than 300 million subscribers worldwide and a vast library of content, Netflix now has unrivaled market power.”
Netflix, which stopped reporting subscriber data this year, has more than 300 million streaming subscribers worldwide. WBD ended the third quarter of 2025 with 128.0 million streaming subscribers, up 2.3 million from the second quarter. These include customers of HBO Max, as well as Discovery+ and its sports streaming services.
At least initially, Netflix said it would operate HBO Max (and the Warner Bros. studio) independently.
Netflix can argue that it is far from a monopolist: The streamer's executives regularly note in the streaming giant's earnings reports that even in its most mature markets, including the US, Netflix represents less than 10% of total TV viewing (a statistic meant to show that it still has room for future growth).
