The electronic streaming industry witnessed a huge deal last Friday, after Netflix announced its plan to acquire Warner Bros. for $83 billion.
The transaction is expected to be completed within 12 to 18 months, after obtaining the necessary regulatory approvals. But US President Donald Trump confirmed that he would have the “final word” on the decision.
Before attending the Kennedy Center Awards ceremony in Washington, Trump stated that he would “intervene in the decision,” noting that “the size of the market share is very large, so we will see what happens.”
His statements come at a time when Netflix is the most popular service globally, as it owns about 22% of the streaming market in the United States, roughly equal to Prime Video from Amazon. While HBO Max ranks next with a 14% share.
Despite the big announcement, it is still unclear how Netflix will integrate Warner Bros.’s huge library of films and series, or whether it will unify the two streaming platforms into one service. The coming days alone will reveal the new shape of the broadcast industry after this historic step.
