Republican Senator Mike Lee has issued a request for more information as the Senate Judiciary’s subcommittee on antitrust, competition policy and consumer rights investigates the potential antitrust implications of Netflix’s $83 billion deal for Warner Bros. Discovery‘s streaming and studio assets.
Lee, who serves as the committee’s ranking member, sent five follow-up questions to Warner Bros. chief strategy officer Bruce Campbell and eight questions to Netflix co-CEO Ted Sarandos following the pair’s testimony earlier this month. They included asks for more specifics on the companies’ plans around content spending, licensing and production as well as how YouTube exerts pressure on the companies.
“I look forward to receiving their responses next week,” Lee said in an X post on Friday. “The subcommittee continues to examine this merger and the competition issues it raises.”
Per the list of questions shared by Lee, both Campbell and Sarandos were asked to explain what effect the merger would have on future competition between the two companies and why they believe the deal wouldn’t reduce incentives to produce high-quality content. They were also asked to explain what pricing pressure YouTube exerts on Netflix and Warner Bros.
Other asks of Sarandos included providing percentages for how much of Netflix’s $20 billion in 2026 content spend would go towards film and TV licensing and production and how many projects Netflix plans to produce and shoot in the U.S. over the next two years regardless of whether the WBD merger is approved.
Lee also questioned how acquiring HBO wouldn’t eliminate it as an independent competitor and “further entrench” Netflix’s dominance in streaming, how the WBD merger would impact prices for consumers and if there’s any legal requirement to prevent it from keeping Warner Bros. content exclusive or raise licensing fees for competitors.
Additionally, he asked Sarandos to explain how Netflix’s partnerships with TV manufacturers may limit their ability to promote competing streaming services and what specific, enforceable safeguards would prevent Netflix from “leveraging its combined content assets alongside its codec-standard influence to disadvantage rival technology or eliminate emerging deliver platforms.”
As for Campbell, Lee asked for a list of all full-length films and TV shows licensed to YouTube, a commitment that Warner Bros. will continue to license its content to rival distributors, how much money Warner Bros. spends on film and TV content production and how it would maintain its independence once a Netflix merger closed.
Representatives for Netflix and Warner Bros. Discovery declined to comment.
The additional questions come as Warner Bros.’ board has reopened talks with Paramount CEO David Ellison to submit his “best and final” offer by Feb. 23, though Netflix retains the right to match any offer.
In addition to lawmakers on Capitol Hill, Hollywood creatives and unions have expressed concerns surrounding the Netflix deal’s impact on competition, consumer prices, jobs in Hollywood and the future of the theatrical business.
California Attorney General Rob Bonta has also called for a “full and robust review” of both the Netflix deal and Paramount bid, warning that “further consolidation in markets that are central to American economic life does not serve our economy, consumers, or competition well.”
Warner Bros. shareholders will vote on the Netflix deal during a special meeting on March 20 at 8 a.m. ET.
