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EU Weighs Potential Role as Competing Bids for Warner Bros. Discovery Intensify

By  |  December 10, 2025

As the battle for control of Warner Bros. Discovery Inc. escalates, attention in Washington and Brussels is sharpening, with political dynamics adding new layers of complexity to what is shaping up to be one of the largest media deals in years. According to Bloomberg, former US President Donald Trump has already inserted himself into the conversation, signaling concerns about Netflix’s proposed $83 billion takeover while offering no clear stance on a rival bid led by Paramount.

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    Trump, speaking to reporters at the White House, remarked that neither Netflix nor Paramount are “particularly great friends,” though he emphasized his desire to do “what’s right.” His comments have raised eyebrows given that Paramount’s chief executive is the son of Trump confidant Larry Ellison—a detail that, per Bloomberg, has prompted speculation about the political undertones surrounding the process.

    While US political commentary grows louder, European officials are treading more cautiously. The EU’s antitrust chief, Teresa Ribera, noted on the sidelines of a Brussels conference that the European Commission “could enter to assess” the matter at a later stage. According to Bloomberg, her restraint reflects a broader reluctance among European leaders to weigh in before one bid clearly prevails.

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    Related: US President Raises Antitrust Worries Over Netflix–Warner Bros. Deal

    Pressure, however, is building across the bloc. Andreas Schwab, a key European Parliament voice on competition issues, warned that a Netflix victory could have a “considerable impact on consumer prices.” UNIC, a leading cinema trade group in Europe, echoed concerns about potential harm to movie theatres if the streaming giant gains significantly more market power.

    Yet a Paramount acquisition may prove no less contentious. Max von Thun of the Open Markets Institute cautioned that the deal would “further tighten the Ellison family’s hold on the American and global news media landscape.” According to Bloomberg, observers are also questioning whether political favoritism could play a role. Cori Crider of the Future of Tech Institute argued that European authorities must consider whether the Trump administration is “putting a thumb on the scale” in favor of Paramount, given the involvement of Trump’s son-in-law, Jared Kushner.

    EU regulators have a mixed track record when scrutinizing major media mergers. In 2018, Disney secured approval for its purchase of Fox assets only after agreeing to divestments, while Comcast was cleared unconditionally in its bid for Sky. The 2021 merger of AT&T’s WarnerMedia and Discovery sailed through Brussels without conditions.

    But the size and influence of a prospective Warner Bros. Discovery transaction may prompt Brussels to take a harder line this time. Per Bloomberg, policymakers across the continent are already signaling that the implications for consumers, competition, and cultural industries could be too significant to ignore.

    As political, economic, and regulatory pressures converge, the outcome of this high-stakes contest remains uncertain—and may hinge as much on governments’ willingness to intervene as on the bids themselves.

    Source: Bloomberg