Overview
- Ted Sarandos and WBD executive Bruce Campbell testified that the proposed acquisition would preserve a 45‑day theatrical window, expand U.S. production, use union labor, and keep studio operations intact.
- Lawmakers from both parties pressed on potential harms to competition, prices, licensing and labor, while several Republicans challenged Netflix over allegedly “woke” programming that Sarandos said does not reflect any political agenda.
- Netflix argued the combined company would remain a modest share of total TV viewing and competes for attention with YouTube, Apple and Amazon, as regulators are expected to assess the deal within the narrower subscription‑streaming market.
- The Justice Department is reviewing the deal alongside a larger hostile bid from Paramount Skydance; CEO David Ellison declined to testify after WBD rejected Paramount’s offer, which has been reported at about $108.4 billion.
- WBD shareholders still must vote on any transaction, and Paramount has extended its tender offer deadline to Feb. 20 as the contested sale and potential litigation keep timelines uncertain.