Netflix co-CEO Ted Sarandos met with President Donald Trump in November to discuss a potential acquisition of Warner Bros. Discovery, amid concerns over federal regulatory approval for the $82.7 billion deal.
The meeting occurred as Paramount Global emerged as an assumed frontrunner to acquire the studio, based on CEO David Ellison’s ties to the Trump administration. Reports from Bloomberg and The Hollywood Reporter detailed how Sarandos sought clarity on the deal’s prospects. During the discussion, Trump advised that Warner Bros. should sell to the highest bidder and indicated he would not immediately oppose the transaction.
Sarandos departed the White House meeting with the conviction that the president would refrain from blocking the acquisition. This interaction took place before Warner Bros. entered a competitive bidding process. The studio’s leadership had not anticipated such developments, prompting a shift in strategy.
Following the emergence of initial reports about the meeting on Sunday, Trump verified its occurrence. He expressed positive views toward Netflix and its executive, stating, “Netflix is a great company. They’ve done a phenomenal job. Ted is a fantastic man. I have a lot of respect for him. But it’s a lot of market share, so we’ll have to see what happens.” These remarks highlighted Trump’s acknowledgment of the consolidation’s scale in the entertainment sector.
Warner Bros. CEO David Zaslav displayed reluctance toward selling the company. He expressed surprise at Paramount’s pursuit of an acquisition, having anticipated that Ellison would delay until after the studio executed its planned separation of movie and streaming operations from cable networks. This split aimed to streamline business units and address operational challenges.
In response to the interest, Warner Bros. announced openness to other bids, which initiated a competitive auction. Netflix secured the winning offer for the $82.7 billion acquisition. Paramount retains the option to submit a hostile bid, maintaining tension in the process.
Federal regulators have yet to approve the transaction, leaving the outcome uncertain as reviews proceed to assess antitrust implications.
