Sen. Chris Murphy warned Saturday that a bid by Netflix to purchase Warner Bros. Discovery — a deal that would place HBO under Netflix’s control — would be “a disaster” for consumers, workers and the media landscape, calling it “patently illegal” under U.S. antitrust law.
Murphy, a Connecticut Democrat who sits on the Senate Foreign Relations Committee and has been increasingly vocal on media consolidation, issued a four-post thread on X criticizing what he described as an emerging view in Washington that a Netflix takeover may be the “lesser evil” compared with Warner Bros. being acquired by a group aligned with President Trump.
WBD selected Netflix after the streaming giant offered $27.75 a share for the studio and streaming assets, a mix of cash and stock worth $82.7 billion, the streamer announced on Friday. Netflix disclosed that it would have to pay a breakup fee of $5.8 billion if it walked away, while it would get $2.8 billion if WBD backs out.
The Netflix purchase of Warner Bros. would be a disaster. It’s patently illegal. But there are some quietly rooting for it because a Paramount takeover (that includes CNN) would be worse. 1/ A short
on why that’s the dangerously wrong way to look at this.
— Chris Murphy
(@ChrisMurphyCT) December 6, 2025
“The Netflix purchase of Warner Bros. would be a disaster. It’s patently illegal” Murphy wrote. “But there are some quietly rooting for it because a Paramount takeover (that includes CNN) would be worse.”
Any major acquisition of Warner Bros. Discovery — which owns HBO, CNN, Warner Bros. Pictures, DC and a suite of cable networks — would require approval from the Justice Department and Federal Trade Commission.
Murphy argued that the rumored Netflix-Warner Bros. deal fits squarely within the types of vertical and horizontal consolidation federal regulators have signaled they intend to block.
“This deal is a classic anti-trust violation,” he wrote. “It will drive up prices — HBO Max is one of the few things that keeps pricing pressure on Netflix. Hundreds of movie theaters will go under. Writers and production workers in the content business will have terms and wages dictated to them.”
The senator said some policymakers and industry observers have rationalized a Netflix acquisition because they fear an alternative bid reportedly involving Paramount Global and what he termed an “Ellison/Trump cabal.” In that scenario, he said, “Trump would effectively control the bulk of mainstream media, from CBS all the way to CNN. That’s worse than Netflix owning Warner Bros.!”
Murphy rejected that framing.
“Tyrants want us to accept blurry moral lines,” he wrote. “They want us to accept one level of corruption or illegality just because there is an alternative level that’s much, much worse. But that’s how democracy disappears. By rules disappearing and constant relativity creeping in.”
The Justice Department has not commented on any potential review. Warner Bros. Discovery and Netflix had not issued statements regarding Murphy’s remarks.
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