Netflix co-CEO Ted Sarandos is in Washington, D.C., on February 26 to address antitrust concerns regarding the company's proposed acquisition of Warner Bros. Discovery’s studio and streaming assets. Sarandos may meet with White House officials to navigate regulatory scrutiny over potential market concentration from merging two major streaming platforms.
Netflix is currently engaged in a bidding war with Paramount Skydance for the Warner Bros. Discovery assets. This competition intensified following a recently increased offer from Paramount.
Netflix shares rose nearly 6% during the previous trading session. Market analysts interpret this price action as investor optimism that the company might withdraw from the increasingly costly bidding process.