🇪🇺 The Battle for WBD Moves to Brussels

Although the deal has yet to be finalized in the United States, European Union regulators have already begun “preliminary consultations” as they prepare for a large‑scale antitrust probe.

David Ellison is actively lobbying for his bid in Europe, having met with Emmanuel Macron and EU officials. His key bargaining chip is a pledge to release at least 30 films a year exclusively in cinemas. Ellison is warning regulators that a Netflix victory would create a “monopolistic giant” that could destroy theatrical exhibition.

Netflix, for its part, has a powerful lobbying operation in Brussels and extensive experience investing in local European content. Company chief Ted Sarandos has already promised to preserve theatrical windows for Warner Bros. titles and to run the studios as independent entities. For Netflix, the deal is above all a battle for iconic intellectual property.

The European Commission is highly sensitive to two issues: consumer pricing and the protection of movie theaters. There are concerns that a merger between Netflix and HBO Max would give the streamer too much leverage to raise subscription fees and pressure independent producers.

Analysts note that the EU rarely blocks media mergers (as seen in the Disney–Fox case), but it can significantly slow down the process or impose tough conditions. Geopolitics will also play a key role: if Donald Trump’s administration approves the deal in the U.S., Brussels is unlikely to risk an open confrontation.