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Netflix CEO gives conditional approval of AT&T-Time Warner deal

Netflix CEO Reed Hastings wants his media streaming company to be treated fairly
Netflix CEO Reed Hastings wants his media streaming company to be treated fairly

Netflix chief executive Reed Hastings said he was in favour of AT&T's planned $85.4 billion acquisition of Time Warner.

This is provided that his popular media streaming company continued to be treated fairly. 

Speaking at a technology conference hosted by the Wall Street Journal in California, Reed Hastings said it was critical that Netflix's content be treated the same as Time Warner's once the deal takes effect. 

"If it’s open competition, we’d love that," he said. 

The Netflix CEO has been an outspoken advocate of net neutrality, which holds that Internet service providers should not favor some types of content over others. 

"The key thing is net neutrality, which has not been AT&T’s favourite topic," he said.

AT&T on Saturday announced the landmark deal, which would give the company control of cable TV channels HBO and CNN, film studio Warner Bros and other coveted assets, reshaping the media landscape. 

But shares of both AT&T and Time Warner fell on concerns that the acquisition would not withstand scrutiny from regulators.

Netflix has been facing a slowdown in subscription growth in the US as the market matures. It also faces competition from the likes of Hulu and Amazon.com. 

The accelerating pace of deals in media has fueled speculation that Netflix could be among the next acquisition targets. But Hastings signaled that the company is set on independence.