Ted Sarandos confirms Donald Trump’s role in Netflix deal
Netflix CEO Ted Sarandos has shed light on the involvement of Donald Trump in the imminent acquisition of Warner Bros Discovery.
The President previously hinted at his involvement in the huge deal, which has seen Netflix all but gain control of Warner Bros’ film and television studios, as well as the HBO Max streaming service, in a deal confirmed in December.
Currently, Paramount is attempting to counteroffer with a hostile takeover bid, though Warner Bros seems content with Netflix’s offer.
However, earlier this month, it seems Trump changed his mind on his potential involvement, stressing in an interview with NBC News, “I haven’t been involved. I must say, I suppose I’m considered a very strong president. I’ve been called by both sides. It’s the two sides, but I’ve decided I shouldn’t be involved. The Justice Department will handle it.”
Now, asked by Variety if he’s nervous about the President’s eyes on the deal, Sarandos has shared, “Look, I think he has a keen interest in the entertainment business.”
He added, “He knows about the entertainment business, and he really does care about the health of the industry, the American industry generally, but I think particularly the entertainment industry.”
Despite this, Sarandos is confident Trump won’t threaten the deal too much: “He’s made no indication that he’s going to do anything or be involved in any way that’s improper. This is the DOJ’s deal.”
In the latest update on the merger, according to the BBC, members of the US Senate antitrust subcommittee have raised concerns about reduced competition, potential price rises, and the future of cinemas if the merger proceeds.
Appearing before the Senate earlier this week, Sarandos continues to insist that the merger would be good for consumers, combating anti-trust claims: “[Netflix is] 9% of the TV business. We get HBO, and we grow to 10%. That is not an antitrust problem.”
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