Netflix co-CEO Ted Sarandos faces Senate hearing over massive $72B Warner Bros takeover deal [FOX Business Network]
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Source: FOX Business Network
Netflix co-CEO Ted Sarandos is set to testify on Tuesday before a Senate panel scrutinizing how the streaming giant's proposed $72 billion acquisition of Warner Bros Discovery would impact competition in the entertainment industry's streaming segment. Sarandos will testify alongside Warner Bros. Chief Revenue Strategy Officer Bruce Campbell as the executives face questions over the competitive impact of the proposed merger before the Senate Judiciary Committee's Subcommittee on Antitrust, Competition Policy and Consumer Rights. While Congress doesn't have authority to block or delay the merger, the hearing will afford lawmakers the opportunity to hear from the companies about how it would affect competition between streaming platforms, as well as workers and consumers. If Netflix's bid for Warner Bros. Discovery succeeds, the streaming service would gain access to WBD's film and television studios, the HBO Max streaming service, as well as a content library that includes "Game
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