Netflix (nflx.o), opens new tab has been hit with a consumer lawsuit seeking to block the online video giant’s planned $72 billion acquisition of warner bros discovery’s (wbd.o), opens new tab studio and streaming businesses The proposed class action, opens new tab was filed on monday by a. A consumer complaint has been filed against netflix in an attempt to stop the online video behemoth’s proposed $72 billion acquisition of warner bros Discovery’s studio and streaming operations Filed by an hbo max subscriber, the complaint argues the merger would reduce competition in the u.s Streaming market and hand netflix control over several of hollywood’s biggest franchises, including dc.
Analysts view the acquisition as a defensive move against youtube and tiktok’s growing influence among younger viewers. The company faces a lengthy doj review and a possible lawsuit seeking to block the deal if it doesn’t adopt some remedies to get it cleared, analysts said. The deal includes hbo max and warner bros To fund the acquisition, netflix plans to take on about $50 billion in new debt The total value of the deal, including debt, is estimated to be $82.7 billion The acquisition has faced some early challenges
