Netflix CEO testifies before Senate over Warner Bros. deal

WASHINGTON (KYMA, NBC) - Netflix CEO Ted Sarandos is testifying before the Senate Judiciary Committee Tuesday afternoon.

According to NBC News, this is in response to Netflix's deal to buy Warner Bros. back in December of 2025.

As part of the deal, Netflix will acquire the movie studio and HBO Max while Warner Bros. will spin-off its TV channels, TBS, TNT and CNN, as Discovery Global.

Following the deal's announcement, Paramount Skydance, another studio interested in buying Warner Bros., launched a takeover bid, offering to buy all of Warner Bros.

After Warner Bros. rejected the bid, Paramount to file a lawsuit against Warner Bros. last month.

Also last month, Netflix revised its deal to an all-cash offer, instead of a combination of cash and stocks, as well as offering $27.75 per share after a previous offer included not only stock, but also a lower share price.

To watch the livestream of the hearing, see attached video.