Netflix NFLX 0.89%increase; green up pointing triangle Co-Chief Executive Ted Sarandos defended the streaming company’s planned $72 billion acquisition of Warner Bros. and HBO Max at a Senate hearing Tuesday that occasionally grew contentious.
Several senators, both Republicans and Democrats, expressed concern at the Judiciary Committee hearing about the market power of a Netflix-Warner tie-up. They said they were worried that the combination could result in higher costs and less choice for consumers, as well as fewer entertainment-industry jobs.
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