Netflix didn’t lose to Trump. It lost to math.

After months of public back-and-forth, Netflix’s bid for Warner Bros. Discovery is dead. Paramount won. The company on February 26 said it had completed its purchase, and Federal Communications Commission Chairman Brendan Carr said regulators would approve it “pretty quickly.”

Some observers blamed Netflix’s loss on the Trump administration. Senator Elizabeth Warren (D-Mass.) labeled the Paramount deal a “disaster,” and allies implied that administration officials leaned on Netflix to stand down.

That’s revisionist history. Netflix lost for two reasons: Paramount offered more money, and Republicans have grown far less willing to wave through consolidation by mega-firms that already squeeze consumers and tilt the culture war leftward.

Read more at The Blaze.