The U.S. Senate Judiciary Committee said on Tuesday that its antitrust subcommittee will hold a hearing next week on a proposed tie-up between Netflix and Warner Brothers.
All eyes are on Warner Bros. Discovery (WBD) as Paramount's efforts to acquire the company continue to escalate and Netflix has switched their offer to buy Warner Bros' (WB) to an all-cash bid with WBD stockholders set to vote on the transaction by April 2026.
A Senate committee will examine the proposed Netflix acquisition of Warner Bros. at a hearing scheduled for next week, with co-CEO Ted Sarandos scheduled to testify. The hearing before the Senate Judiciary antitrust subcommittee will be held on Feb. 3, a spokesperson for Sen. Mike Lee (R-UT), confirmed.
Netflix co-chief executive Greg Peters said it is on track to win the backing of Warner Bros Discovery shareholders for its $82.7 billion offer for the company's film and television studios, adding that Paramount's rival bid "doesn't pass the sniff test", the Financial Times reported on Thursday.
Netflix co-CEO Ted Sarandos is planning to testify in February at a U.S. Senate committee hearing looking into the company's proposed $82.7 billion purchase of the streaming and studio operations of Warner Bros Discovery Inc , Bloomberg News reported on Thursday.
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