Netflix (NFLX.US)'s US$72 billion acquisition of Warner Bros. Discovery (WBD.US)'s assets will face a consumer class action, alleging that the proposed transaction may reduce choices for subscription streaming platforms in the US.

Some members of Congress have also questioned Netflix's acquisition proposal, anticipating that the deal will face strict scrutiny under US antitrust laws.

Moreover, Paramount Skydance (PSKY.US) launched a hostile takeover of Warner Bros. Discovery, offering an all-cash bid of US$30 per share, equivalent to a corporate value of US$108.4 billion.

Netflix issued a statement asserting that the lawsuit is baseless and merely a tactic by the plaintiffs' lawyers to exploit market attention on the deal.
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AASTOCKS Financial News
Website: www.aastocks.com

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