US President Donald Trump has raised concerns about Netflix’s planned $72bn acquisition of Warner Bros. Discovery, warning that the combined company’s market share could pose antitrust problems. Trump confirmed meeting Netflix Co-CEO Ted Sarandos but said the deal “has to go through a process,” noting he would be personally involved in the review.

The merger faces a lengthy Justice Department investigation, with regulators expected to examine whether the combined streamer would exceed a 30 percent market-share threshold. Trump’s remarks immediately affected betting markets, where the probability of the deal closing by 2026 dropped from 60 percent to 23 percent.

Lawmakers from both parties and UK and EU regulators have also flagged competition concerns, while Netflix argues the market includes rivals like YouTube, TikTok, Amazon, and Disney.