By Jeff Mason WASHINGTON, Dec 7 (Reuters) – U.S. President Donald Trump said on Sunday that he would have a say whether a proposed merger between Netflix and Warner Brothers should go forward, telling reporters the market share of a combined entity could raise concerns. “I’ll be involved in that decision,” Trump told reporters as […]
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Trump says he’ll be involved in review of Netflix-Warner Brothers deal
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By Jeff Mason
WASHINGTON, Dec 7 (Reuters) – U.S. President Donald Trump said on Sunday that he would have a say whether a proposed merger between Netflix and Warner Brothers should go forward, telling reporters the market share of a combined entity could raise concerns.
“I’ll be involved in that decision,” Trump told reporters as he arrived at the Kennedy Center for its annual awards show.
Netflix on Friday agreed to buy Warner Bros Discovery’s TV, film studios and streaming division for $72 billion, a deal that would hand control of one of Hollywood’s most prized assets to the streaming pioneer.
Trump did not say whether he favored approval for the deal, but he pointed to a potential concentration of market power in the entertainment industry.
“That’s going to be for some economists to tell…. But it is a big market share. There’s no question it could be a problem,” Trump said.
(Reporting By Jeff Mason and Steve Holland; Editing by Cynthia Osterman)