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House subcommittee questions antitrust risks as Netflix and Paramount vie for Warner Bros. Discovery
Summary
Witnesses at a House Judiciary subcommittee hearing debated whether proposed sales of Warner Bros. Discovery to Netflix or Paramount/Skydance would reduce competition, harm workers and newsroom independence, or deliver consumer benefits — with members pressing agencies to define markets and guard against political interference.
WASHINGTON — Lawmakers pressed antitrust experts on Tuesday over the competitive and public-interest stakes of reported bids by Netflix and Paramount/Skydance for Warner Bros. Discovery, the company that owns HBO Max, Warner studios and cable networks including CNN.
The hearing, convened by the House Judiciary subcommittee on competition and consumer choice in digital streaming, opened with the chair arguing that streaming’s rapid growth has reshaped distribution and consumer habits. "Today, we're here to start a much needed conversation about whether further consolidation in the streaming industry would be helpful or harmful to consumers," the chair said in opening remarks.
The panel of witnesses — Jay Ezrilev, an economist and former FTC adviser; Jessica Miluzian of the Competitive Enterprise Institute; John Yoon, a law professor and former FTC economist; and Matt Wood of Free Press Action — framed the debate around three recurring questions: how to define the relevant market for streaming; whether a combined company would harm downstream consumers or upstream rivals; and how…
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