DOJ Launches Antitrust Probe Into Netflix's Proposed Acquisition of Warner Bros. Discovery

Feds demand details from producers and filmmakers on Netflix's industry leverage as it seeks to create a media monopoly.

Published on Feb. 22, 2026

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The U.S. Department of Justice has launched an antitrust investigation into Netflix's proposed $83 billion acquisition of Warner Bros. Discovery, issuing civil investigative demands to filmmakers and producers across the industry. The DOJ wants to determine if the merger would substantially lessen competition or create a monopoly in violation of antitrust laws. The investigation comes as Paramount continues to pursue legal action against the deal, and just days before a WBD shareholder vote on the Netflix offer.

Why it matters

The DOJ probe signals heightened antitrust scrutiny over the potential consolidation of power in the streaming industry, with concerns that a Netflix-Warner Bros. behemoth could dominate the market and leverage its size to the detriment of consumers and competitors. This reflects broader tensions around the growing influence of tech giants and the role of antitrust enforcement in the digital age.

The details

The DOJ's Antitrust Division has issued civil investigative demands to filmmakers and producers, requiring them to provide documents and sworn responses by March 23 on Netflix's industry leverage and the potential anti-competitive effects of the merger. This comes as Paramount continues its legal challenge to the deal, with the WBD shareholder vote scheduled for March 20. Netflix has denied any antitrust violations, stating it operates in a highly competitive market, but the DOJ probe adds significant uncertainty and delay to the proposed acquisition.

  • The DOJ investigation began around early February 2026, shortly after an anti-Netflix report was sent to Republican senators.
  • On February 20, 2026, the DOJ issued civil investigative demands to filmmakers and producers.
  • The WBD shareholder vote on the Netflix offer is scheduled for March 20, 2026.
  • Recipients of the DOJ demands have until March 23, 2026 to provide the requested documents and responses.

The players

Netflix Inc.

The global streaming giant, led by co-CEOs Ted Sarandos and Greg Peters, is seeking to acquire Warner Bros. Discovery in an $83 billion deal.

Warner Bros. Discovery, Inc.

The media and entertainment conglomerate, led by CEO David Zaslav, owns valuable studio and streaming assets that Netflix is seeking to acquire.

Paramount

The media company is pursuing legal action to challenge Netflix's proposed acquisition of Warner Bros. Discovery.

U.S. Department of Justice

The federal agency's Antitrust Division is investigating whether the Netflix-Warner Bros. merger would violate antitrust laws and substantially lessen competition.

Omeed Assefi

The acting boss of the DOJ's Antitrust Division, who issued the civil investigative demands to filmmakers and producers.

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What they’re saying

“Netflix operates in an extremely competitive market. Any claim that it is a monopolist, or seeking to monopolize, is unfounded. Our success stems from innovation and investment that benefit consumers. We neither hold monopoly power nor engage in exclusionary conduct and we'll gladly cooperate, as we always do, with regulators on any concerns they may have.”

— David Hyman, Chief Legal Officer, Netflix (Deadline)

“We have not been given any notice or seen any other sign that the DOJ is conducting a monopolization investigation.”

— Steve Sunshine, Outside Counsel, Netflix (Deadline)

What’s next

The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.

The takeaway

This DOJ antitrust probe highlights the growing concerns around consolidation and monopolistic power in the streaming industry, as regulators scrutinize the potential impact of a Netflix-Warner Bros. merger on competition and consumer choice. The outcome of this investigation could have far-reaching implications for the future of the media landscape.