Sen. Mike Lee, R-Utah, thinks Netflix’s deal to buy Warner Bros. Discovery will likely get derailed by federal antitrust cops, he told Burgess Everett.
“I have grave doubts about the ability of that deal” to survive a federal antitrust review, Lee said, calling it “a lot of market consolidation.”
“I will not be surprised if this gets thwarted,” he added. Lee, a member of the Senate Judiciary Committee, also said there would be hearings on the proposed deal.
Meanwhile, Paramount is ramping up its lobbying after launching its hostile takeover offer. Paramount CEO David Ellison spent Tuesday meeting with major shareholders in Warner Bros. Discovery, seeking to convince them to turn their shares over to him, Semafor’s Rohan Goswami scooped. Three people he met with said investors walked away reassured by what they saw from Ellison and his top team.