President Trump called Netflix co-CEO Ted Sarandos “fantastic” and said he would be involved in the streamer’s bid to take over Warner Bros. Discovery in remarks to reporters Sunday on the red carpet for the Kennedy Center Honors.
Trump also confirmed earlier Sunday reports that he hosted a meeting with Sarandos before the front-running bid was revealed.
“He came up. He was in the Oval Office last week,” the president told Deadline from the Washington, D.C., event. “I have a lot of respect for him. He is a great person.”
The Netflix purchase of WBD would be for “some economists” to consider, adding that “I’ll be involved in that decision.” Trump told DHD that he made Sarandos no guarantees in the acquisition bid that was reported Friday to be for $27.75 per share in cash and stock.
The deal, which still must clear a slew of federal regulatory hurdles, beat out out an aggressive overture from David Ellison’s Paramount Skydance – well-connected to the White House – and Comcast.
“I think in the history of Hollywood, there’s really been almost nothing like what he has done,” Trump said about Sarandos. Asked about what the megamerger would do for competition and market share, Trump added: “That’s a question. They have a very big market share and when they have Warner Bros. their market share goes up a lot,” adding that the combined companies’ size could be “a problem.”
If the deal is approved, it was expected to take between a year and 18 months to close, and could reach as high as $82.7 billion in total value.
