US Justice Department casts wide net on Netflix's business practices in merger probe, WSJ reports
Yahoo Finance • • business
Key Points:
- The U.S. Department of Justice (DOJ) is investigating whether Netflix employed anti-competitive tactics in its proposed $82.7 billion acquisition of Warner Discovery's studios and streaming service, according to the Wall Street Journal.
- The DOJ issued a civil subpoena to another entertainment company seeking information on Netflix's exclusionary conduct and the potential impact of the deal on market competition and talent contracts.
- Paramount's competing acquisition bid for Warner Bros was unanimously rejected by Warner Bros' board as inadequate and not in shareholders' best interests.
- Netflix and Paramount Skydance aim to acquire Warner Bros for its valuable film and TV studios, content library, and major franchises like "Game of Thrones," "Harry Potter," and DC superheroes.
- The DOJ investigation
