A group of former UK politicians have reportedly written to the Competition and Markets Authority (CMA) calling for a full review of Netflix’s $83 billion bid to acquire Warner Bros Discovery.
According to the FT, the group includes Chris Smith, Oliver Dowden and Karen Bradley, all former UK Secretary of State for Culture, Media and Sport, as well as ex BBC director-general, Tony Hall.
Other signatories include Guy Black, chair of the News Media Association and deputy chair of Telegraph Media Group, and Tina Stowell, former leader of the House of Lords, according to the FT.
The report says the group have written to CMA chief executive Sarah Cardell, warning that the proposed deal will “cement an already dominant player” in the TV streaming market, adding that it would lead to “a substantial lessening of competition with damaging consequences for consumers”.
The CMA has said it is unable to speculate on cases it will or won’t look into outside of a formal investigation, according to Reuters.
Netflix agreed a deal to acquire WBD’s film and television studios, HBO Max and HBO in November. The deal is expected to face scrutiny in the US, Europe and the UK, with executives believed to have met with politicians at the European Commission in the last few weeks.
