US EditionNetflix faces consumer class action over $72 billion Warner Bros deal
A subscriber alleges the $72 billion Netflix acquisition of Warner Bros Discovery would reduce U.S. streaming competition by eliminating HBO Max, raising antitrust concerns.
- On Monday, a Warner Bros Discovery subscriber filed a proposed class action in U.S. District Court, Northern District of California to block Netflix's $72 billion acquisition of Warner Bros Discovery's studio and streaming businesses.
- The suit says the acquisition would eliminate HBO Max and give Netflix control over Harry Potter, DC Comics, and Game of Thrones after a weeks-long bidding war last week.
- The suit was filed by lawyers from Bathaee Dunne, who have pursued other antitrust lawsuits including representing YouTube TV subscribers against The Walt Disney Co ; lead attorneys declined to comment and Warner Bros is not a defendant.
- Paramount Skydance launched a $108.4 billion hostile bid, and Warner Bros Discovery board of directors said on Monday it would review the offer as members of the U.S. Congress questioned Netflix's proposal.
- Netflix responded that the suit is meritless, saying it is "merely an attempt by the plaintiffs bar to leverage all the attention on the deal," while the lawsuit notes Netflix's repeated subscription price increases amid competition, a point some members of the U.S. Congress have questioned.
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Netflix is facing a Class Action Lawsuit Over its Warner Bros. Deal
The post Netflix is facing a Class Action Lawsuit Over its Warner Bros. Deal appeared first on Graphic Policy. The Netflix purchase of Warner Bros. is far from a done deal with regulatory hurdles needing to be passed, a hostile takeover attempt, and now a consumer lawsuit.
Netflix has a history of successful pivots. Its Warner Bros. Discovery deal will put that to the test.
Netflix has actually never ever hesitated to break its own guidelines. Friday’s acquisition statement of Warner Bros Discovery’s studio and streaming services is the most recent example of Netflix reversing its own statements about organization method. Formerly, Netflix stated it wasn’t thinking about huge mergers and acquisitions, with officers stating the business chosen to develop things itself to guarantee it got precisely what it desired. H…
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Netflix faces consumer class action aimed at blocking $72 billion Warner Bros deal
Mumbai: Netflix has been hit with a consumer class action lawsuit seeking to halt its proposed $72 billion acquisition of Warner Bros Discovery’s studio and streaming assets, intensifying scrutiny around what could become one of the largest entertainment mergers in recent years. Filed on Monday in the U.S. District Court for the Northern District of California, the lawsuit comes from an HBO Max subscriber who argues that the deal would significa…
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