More than a dozen UK politicians and former policymakers have urged the country’s competition watchdog to conduct a "full review" of Netflix’s $83 billion bid for Warner Bros Discovery, according to a Financial Times report on Tuesday.
In a letter to UK competition head Sarah Cardell, the group expressed concerns that the deal "will cement an already dominant player" in the TV streaming market.
The letter warned that the acquisition could lead "to a substantial lessening of competition with damaging consequences for consumers, the UK’s world-leading creative industries and the UK cinema industry," the FT report said.
Netflix has agreed to an $82.7 billion cash deal to purchase the film and television studios of Warner Bros Discovery. The streaming giant faces competition from U.S. rival Paramount, which has made a hostile offer for the business.
Critics of the deal have raised concerns over the antitrust nature of Netflix’s pursuit of Warner Bros, given that the former is already the largest streamer by subscriber count.
