Senate subcommittee to hold hearing on proposed Netflix-Warner Bros deal

The U.S. Senate Judiciary Committee said on Tuesday that its antitrust subcommittee will hold a hearing next week on a proposed tie-up between Netflix NFLX.O and Warner Brothers WBD.O.

The February 3 hearing will examine the competitive impact of the proposed transaction, the committee said.

Paramount Skydance PSKY.O is also seeking to acquire Warner Brothers.

On Thursday, it extended the deadline on its hostile tender offer by about a month to February 20, buying more time to persuade investors that its bid for the Hollywood studio trumps Netflix's.

Any successful deal will change the landscape of Hollywood by giving the suitor ownership of iconic franchises from "Friends" to "Batman" as well as the HBO Max streaming service.

-Costas Pitas/Reuters