New York, January 29, 2026, 18:28 (EST) — After-hours
- Netflix shares slipped 1.8%, closing in on an intraday low around $82.37, and settled at $83.16 in late trading
- The U.S. Senate antitrust panel plans to hold a hearing on the proposed Netflix-Warner merger on Feb. 3
- UK politicians have called on Britain’s watchdog to launch a full review of Netflix’s $83 billion bid for Warner Bros Discovery
Netflix shares dropped 1.8% to $83.16 in after-hours trading Thursday. This session, which takes place after the 4 p.m. market close, often sees thinner liquidity and more volatile price swings.
Selling pressure lingered as focus stayed on the company’s planned merger with Warner Bros Discovery (WBD.O). The U.S. Senate Judiciary Committee revealed its antitrust subcommittee will hold a hearing on Feb. 3 to assess the deal’s impact on competition — antitrust laws aim to block mergers that could stifle rivalry. Rival suitor Paramount Skydance (PSKY.O) pushed back the deadline for its hostile tender offer to Feb. 20, Reuters reported.
Pressure is mounting in the UK as more than a dozen politicians and former policymakers urge the Competition and Markets Authority to conduct a full review of Netflix’s $83 billion bid for Warner Bros Discovery, according to a letter obtained by Reuters. The group warned the deal “will cement an already dominant player” and risk “a substantial lessening of competition with damaging consequences for consumers.” Reuters
Timing is crucial for investors as the calendar quickly fills with political and regulatory milestones. These hurdles can stretch a deal over months before any official rulings come through, often capping investor enthusiasm when the stock is already bouncing between headlines.
The wider market offered little support. The Nasdaq slipped 0.72% Thursday amid worries that big tech’s AI spending might not pay off soon. “Microsoft disappointed and there are some genuine concerns that AI investments will eat the software companies’ lunches,” said John Praveen, managing director and co-CIO at Paleo Leon. Reuters
Netflix isn’t part of that software group, yet it still moves within the same large-cap risk bucket. When markets turn volatile, concerns over deal risks and regulatory chatter often outweigh the latest entertainment news.
The bigger wildcard for Netflix isn’t subscriber buzz but whether regulators in Washington and London push for a tougher review of the Warner deal—and how that could affect timing and terms.
The downside is clear: political resistance could escalate into formal investigations, dragging out the timeline and increasing the chances of concessions that weaken the deal’s rationale. A drawn-out process might also embolden rivals and leave shareholders divided over their preferred course.
The next major event is the Senate hearing set for Tuesday. The Judiciary Committee will meet on Feb. 3 at 2:30 p.m. ET in the Dirksen Senate Office Building, bringing the competitive issues of the Netflix-Warner Brothers deal into the public eye just as February begins.
