Trump issues telling statement after Netflix reaches winning bid to acquire Warner Bros.

Donald Trump has issued a statement on Netflix's controversial takeover of Warner Bros. amid mounting concerns.

Netflix, the largest streaming service in the world by market share, has announced plans to acquire Warner Bros. in a deal worth some $72 billion.

The deal has already been met by a widespread backlash from Hollywood, including concern over the detrimental impact it will have on the film and TV industry. It has also received cross-party criticism, with many in both the Republicans and Democrats concerned about it giving Netflix an overwhelming market dominance.

In the agreement, Netflix will acquire Warner Bros. Discovery's film and TV studios, as well as the HBO Max streaming division of the company.

Now, Trump has waded into the issue, though one crucial thing remains unclear.

Many have expressed concern over the deal (Mario Tama/Getty Images)

The president addressed concerns about the deal giving Netflix enormous market dominance, saying of concerns: "That's going to be for some economists to tell. But it is a big market share. There's no question it could be a problem."

Speaking about how the deal will make it through regulations in the US, he said: "I'll be involved in that decision."

However, despite his comments, the president's precise position on the deal remains unclear. Although he has suggested there could be challenges with getting the merger through regulations, Trump has not said where he stands.

The contract, which those involved hope to complete next year, has been met with widespread condemnation and outcry from many people and organisations concerned about its impact.

In a statement, the Writers Guild of America said: "The world's largest streaming company swallowing one of its biggest competitors is what antitrust laws were designed to prevent.

Netflix has acquired Warner Bros. (Didem Mente/Anadolu via Getty Images)

"The outcome would eliminate jobs, push down wages, worsen conditions for all entertainment workers, raise prices for consumers, and reduce the volume and diversity of content for all viewers."

Republican Senator Roger Marshall also condemned the agreement, saying in a statement: "Netflix's attempt to buy Warner Bros would be the largest media takeover in history - and it raises serious red flags for consumers, creators, movie theaters, and local businesses alike.

"One company should not have full vertical control of the content and the distribution pipeline that delivers it. And combining two of the largest streaming platforms is a textbook horizontal Antitrust problem.

"Prices, choice, and creative freedom are at stake. Regulators need to take a hard look at this deal, and realize how harmful it would be for consumers and Western society."

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