President Trump says he will not intervene in the battle between Netflix and Paramount Skydance over Warner Bros. Discovery, a significant shift from his previous comments on the matter.
In an exclusive interview with NBC Nightly News anchor Tom Llamas, Trump stated that "I haven't been involved" in the negotiations and expressed confidence that the Justice Department would handle any regulatory issues arising from the deal. He also acknowledged the sharp divide between the two bidders but refused to take sides, saying only that one company is considered too big and should not be allowed to dominate the market.
This decision comes as a relief for Netflix, which already has a deal in place to acquire Warner Bros. Discovery's film studio, along with HBO and the HBO Max streaming service, worth $72 billion. Trump had previously expressed concerns about the proposed acquisition, citing market concentration and the potential impact on competition. However, he also stated that he would consult economists and ultimately decide whether to approve or reject the deal.
The decision not to intervene in the battle may be seen as a victory for Netflix, which is already moving forward with its planned acquisition of Warner Bros. Discovery's assets. The deal faces scrutiny from lawmakers on both sides of the aisle, who are pressing Netflix co-CEO Ted Sarandos about the potential impact on consumer choice and job losses.
Sarandos has pushed back against these concerns, arguing that the transaction would expand competition rather than limit it and that Netflix offers programming "for all, left, right and center." The outcome of the deal is still uncertain, with Warner Bros. Discovery shareholders set to vote on the proposal as early as March.
Trump's decision not to intervene in the battle highlights his willingness to take a step back from high-profile corporate deals, following criticism of his previous comments on major media mergers. His financial interest in both Netflix and Warner Bros. Discovery has also come under scrutiny, with reports indicating that he purchased up to $2 million worth of bonds related to the deal.
In an exclusive interview with NBC Nightly News anchor Tom Llamas, Trump stated that "I haven't been involved" in the negotiations and expressed confidence that the Justice Department would handle any regulatory issues arising from the deal. He also acknowledged the sharp divide between the two bidders but refused to take sides, saying only that one company is considered too big and should not be allowed to dominate the market.
This decision comes as a relief for Netflix, which already has a deal in place to acquire Warner Bros. Discovery's film studio, along with HBO and the HBO Max streaming service, worth $72 billion. Trump had previously expressed concerns about the proposed acquisition, citing market concentration and the potential impact on competition. However, he also stated that he would consult economists and ultimately decide whether to approve or reject the deal.
The decision not to intervene in the battle may be seen as a victory for Netflix, which is already moving forward with its planned acquisition of Warner Bros. Discovery's assets. The deal faces scrutiny from lawmakers on both sides of the aisle, who are pressing Netflix co-CEO Ted Sarandos about the potential impact on consumer choice and job losses.
Sarandos has pushed back against these concerns, arguing that the transaction would expand competition rather than limit it and that Netflix offers programming "for all, left, right and center." The outcome of the deal is still uncertain, with Warner Bros. Discovery shareholders set to vote on the proposal as early as March.
Trump's decision not to intervene in the battle highlights his willingness to take a step back from high-profile corporate deals, following criticism of his previous comments on major media mergers. His financial interest in both Netflix and Warner Bros. Discovery has also come under scrutiny, with reports indicating that he purchased up to $2 million worth of bonds related to the deal.