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What is the story about?
US President Donald Trump has said that he will stay out of the ongoing dispute involving Netflix, Paramount Global's Skydance Media, over the acquisition of Warner Bros. Discovery, one of Hollywood’s most valuable media companies.
His statement was in stark contrast to last year, when he hinted that he might get involved in reviewing the details. At the time, Trump's comments raised concerns that the White House could play a role in a major media merger.
In an exclusive interview with NBC, Trump pointed out that both sides involved in the deal have reached out to him but he intends to stay out and let the law decide the outcome.
"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. It's the two sides, but I've decided I shouldn't be involved. The Justice Department will handle it," he told NBC Nightly News' anchor Tom Llamas.
Both these companies are locked in a high-stakes battle to acquire Warner Bros. Discovery, which owns valuable assets, including its film studio, premium TV channel HBO, and the HBO Max streaming platform.
Trump said these two sides are sharply divided. "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. They're beating the hell out of each other — and there'll be a winner," he stated.
In December, Netflix revealed a massive $72 billion deal to buy some of Warner Bros. Discovery's most valuable businesses. If approved, the deal would significantly change the streaming industry, as Netflix would gain control over some of the most popular movies and TV shows.
At the same time, Paramount Global's Skydance Media were working on a different plan. Instead of buying just parts of Warner Bros. Discovery, they wanted to acquire the entire company, including its cable television networks.
However, Warner Bros. Discovery turned down Paramount's offers and preferred Netflix's deal. Paramount didn't back off and decided it to choose a tougher approach called a hostile takeover. This means instead of negotiating with the company, Paramount went directly to shareholders or used legal and financial pressure to force the sale.
In January, Trump revealed that he had bought $2 million worth of Netflix and Warner Bros. Discovery bonds shortly after Netflix announced its deal.
His statement was in stark contrast to last year, when he hinted that he might get involved in reviewing the details. At the time, Trump's comments raised concerns that the White House could play a role in a major media merger.
In an exclusive interview with NBC, Trump pointed out that both sides involved in the deal have reached out to him but he intends to stay out and let the law decide the outcome.
"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. It's the two sides, but I've decided I shouldn't be involved. The Justice Department will handle it," he told NBC Nightly News' anchor Tom Llamas.
Both these companies are locked in a high-stakes battle to acquire Warner Bros. Discovery, which owns valuable assets, including its film studio, premium TV channel HBO, and the HBO Max streaming platform.
Trump said these two sides are sharply divided. "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. They're beating the hell out of each other — and there'll be a winner," he stated.
In December, Netflix revealed a massive $72 billion deal to buy some of Warner Bros. Discovery's most valuable businesses. If approved, the deal would significantly change the streaming industry, as Netflix would gain control over some of the most popular movies and TV shows.
At the same time, Paramount Global's Skydance Media were working on a different plan. Instead of buying just parts of Warner Bros. Discovery, they wanted to acquire the entire company, including its cable television networks.
However, Warner Bros. Discovery turned down Paramount's offers and preferred Netflix's deal. Paramount didn't back off and decided it to choose a tougher approach called a hostile takeover. This means instead of negotiating with the company, Paramount went directly to shareholders or used legal and financial pressure to force the sale.
In January, Trump revealed that he had bought $2 million worth of Netflix and Warner Bros. Discovery bonds shortly after Netflix announced its deal.
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