Trump says he won't intervene in Netflix-Warner Bros-Paramount dispute
What's the story
US President Donald Trump has announced that he will not intervene in the ongoing dispute between Netflix and Paramount Global's Skydance Media over the acquisition of Warner Bros. Discovery, reported NBC News. The announcement marks a departure from Trump's previous stance last year when he suggested he might review the details of the deal. His comments then sparked fears of White House involvement in a major media merger.
Decision made
'I've decided I shouldn't be involved'
Trump said both parties involved in the deal have contacted him but he has decided to stay out of it. "I haven't been involved. I must say, I guess I'm considered to be a very strong president." "I've been called by both sides...but I've decided I shouldn't be involved," he told NBC Nightly News's anchor Tom Llamas. "The Justice Department will handle it."
Dispute details
'There'll be a winner'
Trump described the two sides as being sharply divided, with one company arguing that it is too big to be allowed to proceed with the acquisition. "There's a theory that one of the companies is too big and it shouldn't be allowed to do it, and the other company is saying something else," he said. "They're beating the hell out of each other - and there'll be a winner."
Acquisition attempts
The $72 billion deal
In December, Netflix revealed a $72 billion agreement to acquire several of Warner Bros. Discovery's most valuable assets. If cleared, the deal would dramatically reshape the streaming sector by placing a vast library of popular films and television shows under Netflix's control. Meanwhile, Skydance Media was advancing a separate proposal to acquire Paramount Global in full, including its cable television networks. However, Warner Bros. Discovery rejected Paramount's offers in favor of Netflix's deal leading to a hostile takeover attempt.