Senate panel questions Netflix-WBD merger on political bias and market power

Ted Sarandos, the co-CEO of Netflix, defended the company’s proposed $72 billion acquisition of Warner Bros. Discovery during a Senate Judiciary subcommittee hearing Feb. 3, 2026, addressing concerns over content bias, consumer choice and market consolidation.

Speaking before the subcommittee on Antitrust, Competition Policy and Consumer Rights, Sarandos rejected allegations from Republican lawmakers that Netflix promotes partisan content.

“Netflix has no political agenda of any kind,” Sarandos said during the hearing.

The proposed deal, first announced in December 2025, has faced criticism from both Democratic and Republican lawmakers. Sen. Adam Schiff, D-Calif., questioned whether the merger would reduce job opportunities and limit consumer options. Sen. Eric Schmitt, R-Mo., described the platform’s programming as “overwhelming woke,” and Sen. Josh Hawley, R-Mo., accused the company of promoting “a transgender ideology.”

Sarandos said Netflix offers a wide range of content for audiences across the political spectrum.

“We have a great deal of programming on Netflix for all, left, right and center,” he said.

Sarandos also sought to reassure lawmakers that the merger would benefit the U.S. economy, referencing plans to invest in domestic production infrastructure, including the development of nearly 300 acres at Fort Monmouth, a former Army base.

“This is not a typical media merger where you end up with what’s called the Noah’s Ark problem, two of everything,” Sarandos said. “We are buying a company that has assets that we do not, and we will keep investing in those.”

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Netflix, which has more than 300 million global subscribers, confirmed in January that it amended its offer to acquire Warner Bros. Discovery with an all-cash bid. Competing bidder Paramount Skydance, led by David Ellison, has continued its pursuit of Warner Bros. Discovery and filed suit against the company following the rejection of its offers.

The Ellison family is known for its support of Donald Trump and made pledges to scale back on diversity, equity and inclusion efforts and offer more diverse viewpoints from the CBS News division if the merger was allowed to go through. 

The Trump administration had been largely stalling on its final approval of the deal but gave its approval shortly after CBS agreed to pay Trump $16 million to settle a “news distortion” suit. Industry watchers and legal experts questioned if the approval to transfer CBS-owned stations’ licenses, the last step needed to complete the merger, was tied to Skydance’s pledges and the lawsuit settlement. 

WBD Chief Revenue and Strategy Officer Bruce Campbell, who also testified, said neither he nor CEO David Zaslav had met with Trump about the merger. Sarandos confirmed he had met with Trump in November and discussed general entertainment industry topics, including tariffs and job creation. He said the deal was mentioned only in passing.

Trump previously expressed skepticism about the merger, citing concerns about the potential market share of a combined company.

Sen. Cory Booker, D-N.J., expressed frustration with current antitrust laws and warned that the deal could reduce competition and harm consumers. He called on regulators to assess the transaction “fairly and without political bias.”

The Writers Guild of America has opposed the merger, citing potential harm to creators and workers. Some filmmakers have also expressed concern over a shift toward streaming-first distribution models.

Sarandos said the company remains committed to theatrical exhibition and would preserve a 45-day theatrical release window for films.

A Netflix spokesperson declined to comment beyond Sarandos’ statements during the hearing.