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During a conversation with the press at the Kennedy Center Honors in Washington, D.C., President Trump expressed admiration for Netflix co-CEO Ted Sarandos, describing him as a “fantastic man,” while also voicing concerns over a potential merger between Netflix and Warner Bros. Discovery due to its significant market impact.
Trump, confirming his meeting with Sarandos prior to Netflix’s talks with Warner Bros. Discovery, remarked that such a merger “could be a problem,” as it might spark antitrust legal issues. He emphasized that the proposed deal would need careful scrutiny to assess its implications.
“I’ll be involved in that decision,” Trump stated, referring to Netflix’s proposed $83 billion acquisition of Warner Bros. He noted that the deal would undergo a rigorous review process to determine its feasibility and compliance with regulatory standards.
Praised for his leadership, Sarandos was commended by the president, who reiterated his high regard for the Netflix executive. “I have a lot of respect for him,” Trump commented, acknowledging Sarandos’ achievements while also pointing to the massive market share involved in the deal.
“He’s a great person with many intriguing initiatives beyond this discussion,” Trump added, “yet the market share is undeniably large, and that does pose potential issues.”
Sarandos told investors on a call with Wall Street analysts on Friday that he believes the deal with Warner Bros. Discovery will close in 12-18 months.
“[We are] really confident that we’re going to get all the necessary approvals that we need,” Sarandos told analysts. “This deal is pro-consumer, pro-innovation, pro-worker, it’s pro-creator, it’s pro-growth.”
According to Variety, Sarandos conveyed to President Trump during their meeting that “even combined with Warner Bros. and HBO Max, Netflix would grow to be about as big as Google’s YouTube in the U.S. — and would still have less TV market share than other media conglomerates, according to a Bloomberg report.”
Prior to Netflix announcing a deal with Warner Bros., Paramount called the sales process unfair and bias, claiming that the “sales process has been tainted by management conflicts, including certain members of management’s potential personal interests in post-transaction roles and compensation as a result of the economic incentives embedded in recent amendments to employment arrangements.”
Warner Bros. Discovery shot back that its board “attends to its fiduciary obligations with the utmost care, and that they have fully and robustly complied with them and will continue to do so.”
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