• First assessment to be done by US authorities
• EC won’t accept ‘subordination’ in its enforcement

Streaming giant Netflix’s bid to buy peer Warner Bros. Discovery is, at the moment, not up to the European Commission (EC), according to remarks made by the EC’s competition commissioner this morning.

Asked about the proposed merger, Ribera said “I respect others’ sovereignty and capacity to enforce.” She said that the EC might later be called upon to assess the deal, “but for the time being, I think that it is under another jurisdiction”, she said.

Netflix announced an acquisition of the century-old entertainment powerhouse’s film and tv studios business on 5 December valued at USD 27.5 per share. On 8 December, rival Paramount launched a USD 30 per share hostile offer for the whole company.

Pressed on whether Paramount would be an easier buyer from the point of view of effect on competition, Ribera said “I think that is their job, for the time being.”

Ribera was likely referring to the US merger enforcement agencies. Netflix and Warner Brothers have undertaken to make their HSR filing within 25 business days of the 5 December deal announcement.

Asked in general for her response to political pressure from the US government, Ribera said: “I think we need to respect each other.”

“Our sovereignty, our capacity to decide, that implies respect for what we do and the responsibilities that we need to stand for as enforcers or political leaders in a given institution, in a given sovereign jurisdiction,” she said.

“We are not going to accept any type of subordination on how we play our roles. On the contrary, we are going to stand up and to defend what we think is our duty.”