Netflix has struck a $72 billion deal to swallow Warner Bros. Discovery’s film studios, HBO, and streaming operations, creating a streaming behemoth that would dominate American entertainment. The agreement, announced on December 5, 2025, follows a fierce bidding war and leaves cable networks like CNN in a separate company after a planned spin-off.
President Donald Trump quickly weighed in, telling reporters the merger “could be a problem” because Netflix already holds a huge market share, and adding Warner Bros. would boost it even further.
Voices in the MAGA movement have gone further, blasting the deal as a dangerous concentration of influence. Benny Johnson labeled it the “most dangerous media consolidation in American history,” pointing to the control it would give over beloved children’s franchises.
Jack Posobiec tied the concerns to Netflix’s longstanding ties to Barack and Michelle Obama through their production company, as well as board member Susan Rice, a former Obama administration official.
Laura Loomer warned in an op-ed: “The press wants you to believe the proposed Warner Bros.–Netflix merger is just another business deal. It’s not. It’s a setup for Michelle Obama’s 2028 presidential run… If the merger is approved, the Obamas, through their production company, would enjoy unprecedented influence over the largest consolidated streaming platform in American history.”
The combined company would serve around 139 million domestic subscribers—far ahead of any rival—and gain control of iconic properties like DC superheroes, Harry Potter, and Game of Thrones.
Yet the deal faces hurdles. Paramount Skydance launched a hostile $30-per-share bid for the entire company shortly after, promising more cash to shareholders and vowing big changes at CNN. Antitrust regulators will scrutinize the transaction closely, with some experts doubting Netflix’s claim that it needs the scale to compete with free platforms like YouTube.
Trump has said he will be involved in the approval process, echoing his past opposition to big media mergers that concentrate too much power. As the review drags on—potentially into 2026 or beyond—families worry about what this means for the stories their kids watch and the choices available in a shrinking entertainment landscape.
