Netflix faces consumer class action over $72bn Warner Bros deal
Times of India
A class action lawsuit aims to block Netflix's $72 billion acquisition of Warner Bros Discovery's streaming and studio businesses.Summary
Netflix is facing a consumer class action lawsuit challenging its proposed $72 billion acquisition of Warner Bros Discovery’s studio and streaming assets. The lawsuit, filed by an HBO Max subscriber, argues the deal would reduce competition in the US streaming market. Concerns have also been raised by members of Congress, anticipating significant regulatory scrutiny under antitrust laws. The suit highlights Netflix’s history of raising subscription prices despite competition and points to the elimination of a key rival, HBO Max, along with Netflix gaining control of major franchises like Harry Potter, DC Comics, and Game of Thrones. Netflix has not yet responded to the lawsuit.
(Source：Times of India)