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Republican Lawmaker Presses Officials Over Netflix Bid for HBO Max

By  |  November 17, 2025

A high-profile Republican lawmaker is urging federal officials to scrutinize Netflix’s reported interest in acquiring major pieces of Warner Bros. Discovery, arguing that the proposed deal could undermine competition in the streaming marketplace. According to Variety, Rep. Darrell Issa of California has raised alarms that the tech giant’s bid for WBD’s HBO Max platform and its entertainment studios “raises antitrust concerns that could result in a harm to consumers.”

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    Issa outlined his objections in a Nov. 13 letter sent to Attorney General Pam Bondi, Federal Trade Commission chairman Andrew Ferguson and Justice Department antitrust official Gail Slater, per a statement reviewed by Variety. His warning comes as Warner Bros. Discovery evaluates acquisition overtures from several companies after confirming it had received inquiries from “multiple parties” interested in either the entire business or select divisions.

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    According to Variety, Skydance Media’s David Ellison has reportedly made a bid for the full company, while Netflix and Comcast are preparing offers focused on WBD’s streaming and production assets. The Wall Street Journal has reported that nonbinding first-round bids are due Nov. 20, with Warner Bros. Discovery aiming to conclude the process by year’s end.

    Related: Warner Bros & Discovery May Already Be In Merger Talks

    In the letter, Issa wrote, “I am writing regarding recent and continuing reports that Netflix is seeking to acquire Warner Brothers (Bros.) Discovery’s studio and streaming properties. As you are aware, Netflix is already the dominant streaming platform in the United States and permitting it to absorb a major competitor raises antitrust concerns that could result in a harm to consumers.”

    He further stated, “With more than 300 million global subscribers and a vast content library, Netflix currently wields unequaled market power. Adding both HBO Max’s subscribers and Warner Bros.’ premier content rights would further enhance this position, reportedly pushing the combined entity above a 30 percent share of the streaming market: a threshold traditionally viewed as presumptively problematic under antitrust law.”

    Netflix no longer discloses subscriber counts publicly after shifting strategy in early 2025, and the company has encouraged investors to focus on financial performance and engagement metrics instead. Still, it continues to describe itself as “one of the world’s leading entertainment services with over 300 million paid memberships in over 190 countries enjoying TV series, films and games across a wide variety of genres and languages,” according to recent announcements.

    Source: Variety