Netflix CEO to Testify on $83B Warner Bros. Deal

Netflix co-CEO Ted Sarandos is set to appear before a Senate committee next month to defend the streamer's proposed $83 billion acquisition of Warner Bros. studios and streaming business.

The testimony will center on the significant antitrust implications of the deal, which would reshape the media landscape. In addition to Sarandos, Warner Bros. Discovery chief strategy officer Bruce Campbell will also face questioning from the committee.

The upcoming hearing represents a critical moment for the proposed merger. Ted Sarandos will be required to answer questions regarding the competitive impact of combining Netflix's streaming dominance with Warner Bros.' extensive studio assets and library.

The committee's focus will be on potential market consolidation and consumer choice. The scale of the transaction, valued at $83 billion, has drawn immediate attention from regulators concerned about the concentration of media power.

Key areas of scrutiny likely include:

• Market share in the streaming industry
• Access to exclusive content libraries
• Potential effects on subscription pricing
• Competition with other major media conglomerates

Two senior executives are confirmed to provide testimony. Ted Sarandos, as co-CEO of Netflix, holds primary responsibility for the company's content strategy and global expansion.

Joining him is Bruce Campbell, who serves as chief strategy officer for Warner Bros. Discovery. His role involves overseeing the strategic direction of the Warner Bros. portfolio, making his perspective vital to the committee's understanding of the deal's rationale.

The presence of both executives underscores the high stakes involved. Their combined testimony will provide the Senate with a comprehensive view of the merger's strategic and operational justifications.

The core issue facing the Senate committee is the potential for reduced competition. A merger of this magnitude would combine two of the largest players in the entertainment industry, raising questions about market fairness.

Regulators will examine whether the acquisition could lead to:

• Higher costs for consumers
• Reduced incentives for innovation
• Limited access for independent content creators

The hearing is designed to gather evidence on these points. Sarandos and Campbell will need to articulate how the combined entity would benefit, rather than harm, the broader media ecosystem.

This hearing occurs during a period of rapid consolidation in the media sector. Companies are increasingly seeking scale to compete effectively against tech giants and shifting viewer habits.

The proposed acquisition would create a formidable entity with a vast library of intellectual property. This includes iconic film franchises and television series, potentially altering the balance of power among streaming services.

The outcome of the Senate review will likely influence future regulatory approaches to large-scale media mergers.

The testimony from Ted Sarandos and Bruce Campbell marks a pivotal step in the regulatory review process. The committee's findings will inform further actions by government oversight bodies.

Stakeholders across the industry are watching closely, as the decision could set a precedent for future media consolidation. The hearing is scheduled for next month, with the potential to significantly impact the trajectory of both companies involved.