Netflix announced its plan to acquire Warner Bros. Discovery (WBD) for $83 billion on Friday. The merger between the entertainment giants will likely draw international antitrust scrutiny, as rival bidder Paramount Skydance ominously predicted in an 11th-hour plea to WBD to reconsider its deal with Netflix. As the deal moves forward, the public should be wary about the political weaponization of the Federal Trade Commission (FTC) and Justice Department (DOJ), given the relationship between President Donald Trump and the owners of Paramount Skydance.
Reuters reported that Netflix was considering a bid to acquire WBD in October. Netflix wasn't the only one; Paramount Skydance and Comcast were also vying for the company. Initial bids were submitted by each company on November 20. On December 1, the deadline for second bids, Paramount Skydance drew the all-mighty antitrust saber as it became clear that WBD favored Netflix's bid of $27.75 per WBD share to acquire Warner Bros. studio, HBO, and HBO Max over Paramount Skydance's bid of $30 per WBD share for the entire company.
