Trump says he won't intervene in Netflix–Warner Bros. Discovery deal, leaves decision to Justice Department

2026-02-05 - 09:05

US President Donald Trump said on Wednesday that he does not intend to get involved in the high-stakes corporate dispute between Netflix and Paramount Skydance over the acquisition of Warner Bros. Discovery, marking a shift from his earlier suggestions that he might intervene personally. In an exclusive interview, Trump stated, “I haven’t been involved... I’ve decided I shouldn’t be involved. The Justice Department will handle it.” Background of the Bidding War In December, Netflix announced a $72 billion deal to acquire Warner Bros. Discovery’s movie studio, HBO, and HBO Max. Shortly after, Paramount Skydance—led by David Ellison, son of billionaire Oracle co-founder and Trump ally Larry Ellison—launched a rival bid. After Warner Bros. Discovery rejected Paramount’s offers and chose Netflix, Paramount Skydance attempted a hostile takeover, prompting Netflix to revise its bid to an all-cash proposal. Earlier Comments and Regulatory Scrutiny Late last year, Trump publicly questioned whether the Netflix–Warner Bros. Discovery deal would gain regulatory approval, warning it could lead to excessive market concentration. “They have a very big market share. When they have Warner Bros., that share goes up a lot,” he said at the time, adding, “I’ll be involved in that decision.” His latest remarks indicate he now plans to leave the matter to the Justice Department’s antitrust review.