Netflix’s planned 72 billion dollar acquisition of Warner Bros. and its film and television operations drew swift criticism across the entertainment industry on Friday, with guilds, lawmakers and Hollywood figures warning that the merger could hurt consumers, workers and theaters.
Executives from both companies defended the agreement, saying it would strengthen content offerings and benefit global audiences. Warner Bros. Discovery CEO David Zaslav said the deal would help preserve “the world’s most resonant stories for generations to come,” while Netflix co-CEO Ted Sarandos said it would “give audiences more of what they love.”
Cinema United chief Michael O’Leary said Netflix’s business model does not support theatrical releases and warned that the deal could lead to theater closures, job losses and harm to local communities.
Actor Jane Fonda, speaking for the Committee for the First Amendment, called the agreement an alarming escalation of media consolidation that she said threatens the entertainment industry, the public and First Amendment principles.
The Producers Guild of America said the industry must navigate rapid economic and technological shifts while safeguarding livelihoods, theatrical distribution, creative opportunities, consumer choice and free expression. It said legacy studios hold cultural value beyond their content libraries and that the Netflix deal must meet these standards.
Sen. Roger Marshall of Kansas said the acquisition bid, which he estimated at 82 billion dollars, would be the largest media takeover in history. He warned that allowing one company to control both content and distribution would pose significant antitrust concerns and threaten prices, choice and creative freedom.
Sen. Elizabeth Warren of Massachusetts described the planned merger as an “anti-monopoly nightmare.” She said a combined Netflix–Warner Bros. entity could dominate nearly half the streaming market, push subscription prices higher, reduce consumer options and put workers at risk.
The Writers Guild of America said the takeover is precisely the kind of consolidation antitrust laws are designed to stop. It said the outcome would cut jobs, reduce wages, worsen working conditions, raise costs for viewers and shrink the diversity of available content, urging regulators to block the deal.
Rep. Laura Friedman of California said repeated consolidation has already cost many film and television jobs and added that any merger should be judged on its impact on competition and employment. Her district includes Hollywood as well as the headquarters of Netflix and the Warner Bros. studio.
Former WarnerMedia CEO and Hulu co-founder Jason Kilar said on X that selling Warner Bros. Discovery to Netflix would be one of the most effective ways to reduce competition in Hollywood.
The proposed deal now awaits regulatory scrutiny.