A coalition of over a dozen U.K. politicians and former government officials has urged the Competition and Markets Authority to initiate a full investigation into Netflix’s proposed $83 billion bid for Warner Bros Discovery, according to the Financial Times.
In a letter sent to CMA Chief Executive Sarah Cardell, the group warned that the merger could “cement an already dominant player” in the streaming market and lead to a substantial lessening of competition. The CMA stated it does not speculate on cases outside of a formal process, and neither Netflix (Nasdaq: NFLX) nor Warner Bros Discovery (Nasdaq: WBD) have commented on the matter. The Financial Times report also notes growing international scrutiny, with the European Commission expected to examine rival bids by Netflix and Paramount Skydance (Nasdaq: PSKY) concurrently.