Consolidating Streaming Under Netflix Is Bad for Everyone. US Antitrust Authorities Should Flip the Script & Promote Industry Independence

Washington, DC – Open Markets Institute and Center for Journalism and Liberty at Open Markets program manager Karina Montoya released the following statement regarding the news that Netflix will move ahead to acquire Warner Bros Discovery’s studios and streaming division: 

“Netflix’s bid to swallow Warner Bros. Discovery’s studios and streaming business is a raw deal for viewers, writers, creators, theaters — for just about anyone who isn’t a top executive or large investor chasing a short-term stock jump. This merger would concentrate even more power in the hands of even fewer decision-makers, shrinking the diversity of stories that get made and the voices that reach global audiences. U.S. antitrust authorities have more than enough evidence and precedent to block this deal — and they should. 

Instead of rubber-stamping yet another merger that further consolidates the media landscape and harms workers, regulators can and must chart a different course: one that revitalizes the industry by promoting independence, competition, and real freedom of thought and creativity. 

The U.S. has done this before. In the mid-20th century, antitrust officials took bold action to stop major studios from monopolizing movie theaters — a move that opened the door to greater independence, innovation, and shared prosperity across the film industry for decades. 

We’re at a similar crossroads today. As Netflix attempts to buy its way past the competition, regulators should once again choose the path that serves audiences, creators, and independent businesses. The lessons from the past are clear, and it’s time to put them to work.”