The U.S. Justice Department has launched an antitrust probe into Netflix's proposed 82.7 billion U.S. dollars acquisition of Warner Bros. Discovery's film, television, and streaming assets, intensifying scrutiny over the company's market power, according to the UK's Financial Times.
The probe aims to assess whether the deal could enable Netflix to further consolidate and potentially abuse its market dominance, thereby suppressing competition.
In December last year, Netflix and Warner Bros. Discovery reached an acquisition agreement valued at 27.75 U.S. dollars per share, to be paid through a combination of cash and stock. The transaction targets Warner Bros. Discovery's television and film production studios along with its streaming services, while its cable television networks will be spun off as an independent, publicly traded company.
Just days after the agreement was announced, Paramount Skydance launched a hostile takeover bid for Warner Bros. Discovery, proposing an all-cash acquisition of all outstanding shares with the aim of taking control of the company's entire asset portfolio.
The unsolicited offer is reportedly valued at about 108.4 billion U.S. dollars, which has also drawn scrutiny from the U.S. Justice Department.
Neither Netflix nor Warner Bros. Discovery has mounted a strong challenge to the ongoing antitrust probe.
Netflix said that, aside from standard merger review procedures, it is not aware of any additional investigations concerning its business.
A Warner Bros. Discovery spokesperson expressed confidence that the transaction with Netflix would satisfy all regulatory approval requirements.
US Justice Department launches antitrust probe into Netflix's USD 82.7 bln Warner Bros. deal
The 24th Mawei-Matsu Lantern Festival, a national-level intangible cultural heritage event, opened on Wednesday in Fuzhou, capital city of east China's Fujian Province, to greet the Year of the Horse, which begins on Feb 17.
The festival is underway at a shipbuilding cultural park, where brilliant lantern installations are artfully integrated into the century-old remains of the former shipbuilding industry, creating a striking contrast that blends maritime heritage with festive light art.
Lanterns shaped like horses and the first steamship built by the shipyard, stand alongside a variety of intricate designs, blending holiday spirit with maritime history.
"This is my first visit here. I have seen lanterns shaped like fish and horses, and I like them very much," said a kid.
The festival originated from the Lantern Festival customs shared between Mawei and Mazu. It is the earliest and now most regularized two-way exchange activity between the two places, with the mutual presentation of lanterns serving as one of its most distinctive traditional features.
The celebration is recognized as China's first cross-Strait national intangible cultural heritage project. In 2024, it, along with the Chinese New Year, was added to the UNESCO Representative List of the Intangible Cultural Heritage of Humanity.
Running till March 8, the 33-day celebration serves as a luminous bridge connecting Fuzhou's Mawei district and Matsu.
"I've been to the festival four or five times, and it has left a deep impression on me. The festival gets better every year, with very distinctive features. We hope to spend more time together with our compatriots from Matsu," said Zhao Ping, a visitor.
"We've incorporated elements of shipbuilding culture, the local culture, and maritime culture into the lantern design. We welcome everyone to Fuzhou and celebrate the Chinese New Year here," said Lin Hebin, deputy director of the Bureau of Culture, Sports and Tourism in Mawei District.
Mawei-Matsu Lantern Festival opens in east China, honoring cross-Strait cultural heritage
Mawei-Matsu Lantern Festival opens in east China, honoring cross-Strait cultural heritage
