Netflix CEO Testifies on Proposed Acquisition of Warner Bros. Discovery

Netflix Co-CEO Ted Sarandos and Warner Bros. Discovery Chief Revenue and Strategy Officer Bruce Campbell testified before the Senate Judiciary Subcommittee on Antitrust about Netflix's proposed acquisition of Warner Bros. Discovery. Senators questioned the executives about the potential impact of the merger on jobs and production, prices for consumers, and the tradition of experiencing movies in cinemas rather than at home via streaming. Sen. Amy Klobuchar (D-MN) remarked, "Anytime the biggest player in the industry seeks to get bigger, there is concern for consumers." Republican senators also raised concerns about potential political bias at Netflix and the content the streamer has produced. Finally, Subcommittee Ranking Member Cory Booker (D-NJ) pressed the executives about Sarandos' meeting with President Trump about the merger, expressing concerns about conflicts of interest.