
FCC Chairman Brendan Carr told CNBC Paramount bid to buy Warner Bros. Discovery than “cleaner” Netflixadding that he expected the bill to be approved “soon.”
“When Netflix emerged as a potential buyer there, there was a lot of concern,” Carr said on the sidelines of Mobile World Congress in Barcelona on Tuesday. “This particular combination raises a lot of competitive concerns.”
Revised by Paramount Skydance Offer to buy the entire WBD Last week, it was $31 a share, up from $30 a share, a price WBD’s board believes is better than Netflix’s existing proposal.
Netflix was set to acquire the media giant’s studios and streaming operations for $27.75 per share, but said that was “no longer financially attractive” in light of Paramount’s offer.
Carr was interviewed by CNBC Arjun Kapoor in an extensive discussion WBD-Paramount mergerwhich requires regulatory approval.
Carr told CNBC that Netflix “will have a very tough road” to gaining regulatory approval, adding that Paramount’s is “cleaner and doesn’t raise the same types of concerns at all.”
“I think it can bring some real benefits to consumers,” he added.
FCC Chairman Brendan Carr testifies before the House Energy and Commerce Subcommittee on Communications and Technology Hearing, “Oversight of the Federal Communications Commission,” on Wednesday, January 14, 2026, in the Rayburn Building.
Tom Williams | Cq-roll Call Inc. | Getty Images
Both deals raised antitrust issues American theater, raise concerns about potential job losses or Hollywood’s smaller movie boards. Netflix’s proposed merger also raises questions Streaming dominanceas it will bring together the two most popular streaming services, Netflix and WBD’s HBO Max.
On Monday, Paramount said it plans to release at least 30 movies per year, or 15 per studio. Executives also said they would Combining its streaming service Paramount+ with HBO Max Integrated into one service after transaction is completed.
It’s unclear what the regulatory process for Paramount and WBD will involve. The FCC typically scrutinizes deals involving a U.S. broadcaster, including Paramount’s CBS, and last year supported Paramount’s merger with Skydance.
“If the FCC does have any role, it’s a small role. I think it’s a good deal, and I think it should pass pretty quickly,” Carr added.
Unlike Netflix’s proposed deal, Paramount’s bid covers WBD’s pay-TV networks such as CNN, TBS and TNT.
If the deal fails to gain regulatory approval, Paramount will pay a $7 billion breakup fee. It has also paid the $2.8 billion breakup fee WBD owed Netflix as a result of the canceled deal.
“Significantly easier”
Some Concerns about Netflix-WBD The agreement includes higher consumer prices and less competition.
U.S. President Donald Trump said in December that the potential deal “could be a problem” because it would increase Netflix’s market share. A month later, he walked back those remarks, saying the deal would be reviewed only by the Justice Department.
Democratic Senator Elizabeth Warren called the merger of Paramount and WBD “an antitrust disaster that threatens higher prices and less choice for American families” in a statement.
Analysts at investment bank Raymond James said last week that a Paramount-WBD deal would be “much easier” than a Netflix deal.
“The deal faces new challenges in news, cable networks, international linear networks, etc., but we still think the WBD/PSKY deal is more palatable,” the analysts wrote.
“And, especially following the reaction to the WBD/NFLX agreement, we believe PSKY has a much stronger political position within the current U.S. administration than Netflix does.”
However, Paren Knadjian, a partner at consulting firm EisnerAmper, said last week that the Paramount-WBD deal is not necessarily complete and that the path forward looks more nuanced.
He said the Netflix deal with WBD was focused on library content, but the Paramount deal was a “horizontal integration” between cable, sports, streaming and news.
“I think the most important thing we want to focus on is bringing the intellectual property under one roof,” Knadjian told CNBC. “What power does that give this new entity to be able to charge more?”
Knadjian added: “Regulatory pressure, political pressure, those are definitely going to delay the deal and make it more complicated, and I think there have to be significant concessions to get it done.”
There is also an open question whether CFIUS will find problems with the deal’s structure. Paramount’s offer includes about $24 billion from Gulf countries’ sovereign wealth funds.
—CNBC’s Lillian Rizzo and Alex Sherman contributed to this report








