Netflix struggles to defend Warner Bros merger at US Senate hearing - BBC

ShareSaveDanielle KayeBusiness reporterShareSaveBloomberg via Getty ImagesTed Sarandos, chief executive officer of Netflix, and Bruce Campbell, chief revenue and strategy officer at Warner Bros Discovery, are sworn in during a Senate hearingNetflix struggled to reassure sceptical lawmakers that its proposed $82bn (£61bn) takeover of Warner Bros Discovery would benefit consumers, workers and the broader entertainment industry. On Tuesday, members of the US Senate antitrust subcommittee, which includes both Democrats and Republicans, raised concerns about reduced competition, potential price rises and the future of cinemas if the merger goes ahead. The deal, which is currently under review by the Department of Justice (DoJ), would give Netflix control of Warner Bros' film and television studios as well as the HBO Max streaming service. Rival bidder Paramount Skydance continues to push a competing offer to buy the company. The Senators' questioning highlighted bipartisan opposition to the merger. But DoJ regulators have the authority to decide whether to approve or block the deal. During the hearing, senators quizzed Netflix co‑chief executive Ted Sarandos on the fate of theatres if the deal were to be approved, the effects of the merger on subscription prices and on the entertainment workforce. Sarandos said his company would commit to releasing Warner Bros films for a 45‑day theatrical period - the current industry standard - and pledged to run the studio "largely as it is today". He argued that combining the two companies would "give consumers more content for less", noting that 80% of those who