Feb 25 (Reuters) -
Republican attorneys general from 11 U.S. states have urged
the U.S. Department of Justice to conduct a thorough review of
Netflix's ( NFLX ) bid to acquire studio and streaming assets from Warner
Bros., saying the deal threatens U.S. dominance in movies,
according to a letter seen by Reuters.
While Warner Bros. has accepted Netflix's ( NFLX ) $82.7 billion
offer, the storied studio said on Tuesday that its board is
considering a rival bid from Paramount Skydance, which
has argued Netflix's ( NFLX ) bid faces taller regulatory hurdles.
The state attorneys general urged the DOJ to scrutinize how
the deal would affect customers of streaming services, as well
as the market for theatrical movie releases.
The deal "will likely result in undue market concentration
that stifles competition and therefore creates higher prices,
lower reliability, and less innovation for one of America's
major industries-all to the detriment of American consumers,"
they wrote.
(Reporting by Jody Godoy, Editing by Franklin Paul and Chizu
Nomiyama )