Don’t Count Paramount Out of WBD Just Yet: Will The Trump Card Be Played?

Netflix is currently leading the race to acquire Warner Bros. Discovery, but the agreement isn’t final and still faces hurdles.

Exclusive talks don’t mean the deal will be finalized; they could always collapse.

Just because Netflix is discussing this doesn’t mean it has official approval, and it appears they’ll face significant challenges for years to come.

Paaramount, despite losing this round, shouldn’t be counted out.

Netflix Faces Heavy Regulatory Scrutiny

A potential merger between Netflix and Warner Bros. Discovery could take years to get approved by antitrust regulators. If it happened, it would be one of the biggest deals in entertainment history.

Netflix acquiring Warner Bros. Studios, HBO Max, and DC, along with their extensive content libraries, is causing concern for regulators who are already scrutinizing mergers in the media industry.

A-List Filmmakers Already Oppose the Deal

Variety reported earlier that leading film directors wrote a confidential letter to Congress, asking them to prevent a merger between Netflix and Warner Bros. Discovery.

They cautioned that the agreement could give Netflix too much power over how movies are shown in theaters and reduce opportunities for others in the film industry.

Hollywood itself is pushing back, which adds pressure lawmakers pay close attention to.

DOJ Antitrust Pushback Expected

The Department of Justice is likely to be the biggest obstacle.

The Justice Department is likely to carefully review the merger. Bringing Netflix and Warner Bros. together would create a very powerful company controlling a large share of both content creation and how it’s delivered to audiences. Regulators have already been blocking or questioning similar, smaller mergers, signaling a strict approach to these deals.

Simply put, Netflix enters a regulatory battlefield.

Rep. Darrell Issa Has Warned of Harm to Competition

Representative Darrell Issa has warned federal regulators that a merger between Netflix and Warner Bros. Discovery could lead to higher prices for consumers, fewer movies being shown in theaters, and less competition in the entertainment industry.

His letter puts political pressure on the DOJ and FTC before the deal even begins formal review.

California AG Rob Bonta Opposes WBD Consolidation

As a movie lover, I remember reading that California’s Attorney General, Rob Bonta, has come out strongly against any further merging of companies like Warner Bros. Discovery. He basically believes it’s bad for us, the people who watch movies and TV, and that it stifles healthy competition in the industry.

California’s opposition is significant. As the hub of the entertainment industry, its actions can create obstacles or slow down the federal government’s progress.

Political Tailwinds Still Favor Paramount

Paramount may have lost the bidding, but it’s still positioned well for a rebound:

Donald Trump has backed the Paramount–Skydance efforts (the wild card in all this)
Paramount has already navigated antitrust approval during the Skydance merger
Paramount argues it can close a deal cleanly and faster than Netflix

If regulators stall or reject Netflix, Paramount becomes the most viable alternative.

It’s Not Over Until It’s Closed: Hostile Takeover In Sight

Okay, so Netflix seems to be the frontrunner right now, having secured exclusive negotiations. But honestly, it’s far from a done deal. There’s a lot of resistance from the major studios, plus the Department of Justice is looking into things, and Congress has voiced concerns. Even at the state level, there’s pushback, and let’s not forget Paramount still has some strong cards to play. As a film fan, I’m keeping a close eye on this – it’s definitely not over until it’s over.

Paramount is still a strong contender in this situation. Several sources indicate they might bypass Warner Bros. Discovery’s leadership and make an offer directly to WBD’s shareholders – essentially a hostile takeover attempt.

2025-12-05 08:32