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Netflix and Warner Bros Defend Merger Amid Senate Culture War and Competition Concerns

Netflix's proposed $82 billion acquisition of Warner Bros Discovery faced tough questioning during a US Senate antitrust subcommittee hearing. Netflix CEO Ted Sarandos and Warner Bros Discovery's Bruce Campbell defended the merger, which would give Netflix control over Warner Bros' film and TV studios and HBO Max. Senators from both parties expressed concerns about reduced competition, potential price increases, and the future of cinemas. The hearing also highlighted bipartisan opposition, with some Republican senators warning that the merger could weaken competition for labor and criticizing Netflix's content as 'overwhelmingly woke.' Meanwhile, the Department of Justice is reviewing the deal, with rival bidder Paramount Skydance also vying to acquire Warner Bros. Sarandos argued the merger would benefit consumers by providing more content at lower costs and would create more American jobs. The hearing also discussed whether YouTube is a significant competitor to Netflix, with Sarandos claiming it is competing for content, viewers, and ad dollars, though some lawmakers remain skeptical. Critics warn that either merger could consolidate too much power in the entertainment industry, raising concerns over competition and cultural influence.

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