President Donald Trump on Truth Social called on Netflix to remove Ambassador Susan Rice from its board of directors, pointing to remarks she reportedly made about potential repercussions for companies that supported him. The post followed an earlier message on X by activist Laura Loomer, which drew attention to Rice's comments about firms that "took a knee" to the former president. According to reports, Rice suggested Democrats would act against such companies should they prevail in upcoming mid-term and 2028 presidential elections.
The confrontation comes amid an intense bidding contest over Warner Bros. Discovery (WBD). Two suitors - Netflix and Paramount Pictures - have advanced competing proposals. WBD's management is reported to favor the Netflix approach, which differs from a full takeover in that it concentrates on the company's streaming assets, including HBO Max, along with its catalogue of legacy titles.
Key financial terms of the Netflix proposal are stated as follows:
- Offer Price: $72 billion in all-cash for the studio and streaming business.
- Enterprise Value: About $83 billion, equating to $27.75 per share.
Paramount, by contrast, has mounted a hostile bid for the entire Warner Bros. Discovery. Its offer is described as $77.9 billion, with an enterprise value of $108 billion when accounting for debt, translating to $30 per share. Reports indicate Paramount is prepared to take the price to $31 per share.
Political affiliations have become a visible element of the tussle. Paramount's campaign is backed by Oracle founder Larry Ellison, who is identified in reporting as a known Trump ally. That connection has likely influenced the former president's stance; Trump has characterized Netflix as an "anti-American, woke company," citing the streaming service's content deal with Barack and Michelle Obama's Higher Ground Productions as an example.
Despite management's reported preference for the Netflix offer, pressure on the process is rising. Netflix granted WBD a seven-day period to reopen talks with Paramount, a move framed as an effort to calm shareholder unease that the board could be foregoing additional value by declining the higher Paramount bid.
Any definitive deal, however, faces significant obstacles. Regulators around the world have already directed intense scrutiny at the potential scale of a Warner Bros. Discovery transaction. Even if shareholders endorse a transaction, the acquisition would remain at risk of antitrust intervention.
The political dimension - including public calls for board changes and partisan rhetoric about corporate choices - is layered atop traditional M&A considerations such as price, scope of the deal, shareholder value and regulatory clearance. For investors and market observers, the confluence of political pressure and a contested corporate sale adds complexity to evaluating the likely outcome and timing.
Article note: This report reflects the available information on public statements, proposal terms and reported preferences from the parties involved. It does not add facts beyond those announced in the public reporting cited within the story.