Trump targets Netflix board amid $108B bidding war for Warner Bros. Discovery

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Sun, February 22, 2026 at 9:36 AM GMT+9 2 min read

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Investing.com – In a recent post on Truth Social, President Donald Trump called for Netflix Inc. (NASDAQ: NFLX) to remove Ambassador Susan Rice from its board of directors, citing her recent comments regarding potential repercussions for companies that support his administration.

Trump’s remarks followed an X post by activist Laura Loomer, which highlighted Rice’s comments about firms that “took a knee” to the former president. Rice reportedly suggested that Democrats would take action against such companies should they prevail in the upcoming mid-term and 2028 presidential elections.

This political friction arrives amidst a fierce bidding war between Paramount Skydance Corp (NASDAQ: PSKY) and Netflix for the assets of Warner Bros Discovery Inc (NASDAQ: WBD).

Currently, WBD management is said to favor the Netflix proposal. Unlike a full acquisition, the Netflix deal focuses on WBD’s streaming services—including HBO Max—and its legacy titles. Key details of the offer include:

Offer Price: $72 billion (all-cash) for the studio and streaming business.

Enterprise Value: Approximately $83 billion, representing $27.75 per share.

Trump opposes Netflix deal, favors Paramount

In contrast, Paramount has launched a hostile takeover bid for the entirety of WBD. Paramount’s offer stands at $77.9 billion, with an enterprise value of $108 billion (including debt), or $30 per share. Reports indicate Paramount is prepared to raise its bid to $31 per share.

The political dimensions of the deal are becoming increasingly apparent. Paramount is backed by Oracle founder Larry Ellison, a known Trump ally. This connection likely informs Trump’s vocal opposition to the Netflix acquisition. Trump has labeled Netflix an “anti-American, woke company,” pointing to its content deal with Barack and Michelle Obama’s Higher Ground Productions.

Despite management’s preference for Netflix, the pressure is mounting. Netflix recently granted WBD a seven-day window to re-open negotiations with Paramount, likely an attempt to soothe shareholder concerns that the board might be leaving money on the table by rejecting the higher Paramount bid.

However, any final agreement faces a steep climb. The sheer scale of a Warner Bros. Discovery acquisition has already drawn intense scrutiny from global regulators. Even with shareholder approval, the deal remains vulnerable to antitrust intervention.

_Reporting by Simon Mugo _

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