Mr. Sarandos Goes to Washington

Ted Sarandos
Sarandos defended the proposed deal by claiming that Netflix controlled only 9 percent of the streaming market—assuming the likes of YouTube and TikTok are included—a share that would rise to 10 percent if it were to acquire HBO Max. Photo: Kevin Dietsch/Getty Images
William D. Cohan
February 8, 2026

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Ted Sarandos and David Zaslav are lucky that the Senate Judiciary Committee doesn’t have the authority to block significant mergers—if it did, Tuesday’s two-hour hearing “examining the competitive impact” of their deal surely would have spelled doom for the proposed $83 billion merger (cash and assumed debt) of Netflix and Warner Bros. Discovery’s Studios and Streaming business unit. It’s been years since I’ve seen so much bipartisan unity: Just about everyone seems to have a bone to pick with this deal.