đ U.S. Senate to Review NetflixâWBD Deal
Netflixâs acquisition of Warner Bros. Discovery assets has hit its first major obstacle. The Senate Antitrust Subcommittee has scheduled hearings for February 3, where Netflix Co-CEO Ted Sarandos will be the main witness.
Netflix plans to take over the studio assets, HBO, and HBO Max, while spinning off the cable channels into a separate company. Subcommittee Chair Mike Lee has raised concerns about potential abuses in the merger process. Lawmakers fear that Netflix could intentionally delay proceedings to âtie the competitorâs handsâ for an extended period.
The situation is further complicated by Paramount, which has made a hostile takeover bid for WBD.
As the hearings approach, the U.S. faces renewed warnings about a possible government shutdown after January 31. Continued political disputes over the federal budget could slow down the review process, leaving the fate of Hollywoodâs major studios hanging in the balance.
In Russia