Dear Reader,

In this special issue of The Forum, we present a timely analysis of the proposed acquisition of Warner Bros. Discovery by Netflix.

Former Federal Trade Commission Chairman and antitrust advisor to Paramount Jon Leibowitz examines key regulatory considerations surrounding the transaction, including antitrust review processes, market concentration in streaming, and the potential implications for shareholders, consumers, and the broader entertainment industry.

As regulators, companies, and investors closely evaluate the future structure of the streaming market, this feature explores the legal and competitive questions at the center of one of the industry’s most closely watched proposed mergers.

We hope you enjoy this issue!

— The Capitol Forum Team