President Donald Trump said he will stay out of the battle between Netflix and Paramount Skydance over acquiring Warner Bros. Discovery, despite previously suggesting he might intervene.
Trump Steps Back from Netflix-Paramount Deal
Netflix has proposed a $72 billion all-cash deal to acquire Warner’s film studio, HBO, and HBO Max, while Paramount Skydance, led by David Ellison, escalated its bid into a hostile takeover attempt.
Trump, who has ties to the Ellison family and disclosed investments in Netflix and Warner bonds, said the Justice Department will handle antitrust review. Meanwhile, Netflix co-CEO Ted Sarandos defended the deal before Congress, arguing it would expand competition, not reduce it.
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