Story perspectives

Paramount's Legal Chief Slams Netflix's $83B Deal

1/9/2026

Summary

Delrahim Challenges Netflix

Paramount's chief legal officer Makan Delrahim called Netflix's $83 billion acquisition of Warner Bros. Discovery (WBD) presumptively unlawful.
He predicted the deal would boost Netflix's streaming dominance.
Delrahim described Netflix's market definition as tortured and absurd.
The Department of Justice is reviewing Paramount's $108.4 billion tender offer for Warner Bros. Discovery (WBD), with a decision in 12 months.
Both Netflix and Paramount engage regulators in the United States and Europe.

Summary

Warner Bros. Discovery Scrutinized

Warner Bros. Discovery faces scrutiny over its $82.7 million merger with Netflix and Paramount's $108.4 billion acquisition bid.
Paramount's chief legal officer, Makan Delrahim, told Congress the Netflix deal is presumptively unlawful and anticompetitive.
Warner Bros. Discovery has rejected Paramount's offer multiple times.
The Netflix merger and Warner Bros. Discovery's planned split into Discovery Global are expected to finalize in late 2026, with a new sports-focused streaming service under development.

History

Historical Context

The Telecommunications Act of 1996, signed by President Bill Clinton, aimed to promote competition in the telecommunications sector, leading to significant consolidation. Over $100 billion in mergers occurred, reshaping the industry. Today, major acquisitions like Paramount's $108.4 billion bid for Warner Bros. Discovery face scrutiny under similar antitrust concerns, reflecting ongoing challenges in regulating market concentration in the evolving media landscape.

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Delrahim Challenges Netflix

Paramount's chief legal officer Makan Delrahim called Netflix's $83 billion acquisition of Warner Bros. Discovery (WBD) presumptively unlawful.
He predicted the deal would boost Netflix's streaming dominance.
Delrahim described Netflix's market definition as tortured and absurd.
The Department of Justice is reviewing Paramount's $108.4 billion tender offer for Warner Bros. Discovery (WBD), with a decision in 12 months.
Both Netflix and Paramount engage regulators in the United States and Europe.

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