Netflix and WBD are facing a skeptical Senate panel Tuesday to defend their $82.7 billion media merger against concerns it will hurt competition in the streaming market.
Netflix Inc. (NFLX) co-CEO Ted Sarandos said in a testimony before the Senate on Tuesday that after its deal with Warner Bros Discovery (WBD), both companies will largely operate as they are doing at present.
“We plan to operate those businesses largely as they are today. Netflix and Warner Brothers both have streaming services, but they are very complimentary,” Ted Sarandos said in the testimony.
“This deal keeps one of the most iconic Hollywood studios healthy and competitive. Warner and Netflix together will create value for consumers, more opportunities for the creative community, and more American jobs,” he added.
Netflix and WBD are facing a skeptical Senate panel Tuesday to defend their $82.7 billion media merger against concerns it will hurt competition in the streaming market.
