January 6, 2026
The Honorable Scott Fitzgerald
Chairman
House Committee on the Judiciary
Subcommittee on the Administrative State, Regulatory Reform, and Antitrust
2138 Rayburn House Office Building
Washington, DC 20515
The Honorable Jerry Nadler
Ranking Member
House Committee on the Judiciary
Subcommittee on the Administrative State, Regulatory Reform, and Antitrust
2142 Rayburn House Office Building
Washington, DC 20515
Chairman Fitzgerald, Ranking Member Nadler, and Members of the Subcommittee:
Thank you for holding a hearing entitled, “Full Stream Ahead: Competition and Consumer Choice in Digital Streaming.” This hearing will provide your Subcommittee an opportunity to carefully evaluate the proposed acquisition of Warner Bros. Discovery, Inc. by Netflix, Inc. As you undertake this important task, National Taxpayers Union strongly urges you to prioritize the consumer welfare standard, which should always serve as the “North Star” for government officials during the examination of any merger or acquisition.
NTU has long advocated for prudent adherence to the consumer welfare standard in antitrust policy. This standard is the backbone of a pro-competitiveness, “light touch” regulatory approach, and helps ensure the needs of taxpayers are not held subservient to the ideological views of bureaucrats or politicians.
In 2021, we led a letter signed by 69 prominent economists who sternly warned against the heavy-handed misuse of antitrust laws to block mergers and acquisitions. The economists noted:
History shows that these antitrust actions and proposals have major potential to: deprive consumers of choices, limit the ability of entrepreneurs to innovate, deny workers and shareholders opportunities to build wealth, confer artificial benefits on competitors, drain “defendant” companies of capital due to legal expenses, and thwart potential growth in the economy as companies are forced to divert resources and attention to legal battles instead of innovation.
In the case of the proposed Warner Bros. acquisition, it would be a serious mistake for the government to intervene in the absence of clear and irrefutable evidence that consumers would be harmed. The all-too-common refrain that “big is bad” should not take precedence over a deliberate and sober analysis of the facts—particularly with a stated goal of promoting competition in the marketplace.
Thank you again for carefully reviewing this proposed acquisition and for prioritizing the consumer welfare standard during your deliberations.
Sincerely,
Brandon Arnold
Executive Vice President