"Now, Trump has a demand for Netflix: unseat board member Susan Rice. In normal times, we would all be marveling at the spectacle of the US president telling a company in the midst of a merger fight ( Paramount also wants to buy Warner Bros. Discovery) how to structure its board. During Trump 2.0, though, this has become standard stuff. Trump routinely tells companies to fire someone he doesn't like or do something he does like."
"Trump's Truth Social post is a reminder that the future of Warner Bros. Discovery will run through the White House, no matter what Trump says at any given moment. (Refresher: In December, Trump said, "I'll be involved" in the fight between Netflix and Paramount. Earlier this month, he announced that " I've decided I shouldn't be involved." Now he's telling Netflix it will " pay the consequences" if it doesn't fire Rice, which sure seems like he's involved again.)"
Netflix is seeking President Trump's approval for its planned purchase of Warner Bros. Discovery and has faced a presidential demand to remove board member Susan Rice. President Trump has publicly pressured companies to fire or change leadership and has signaled consequences if his demands are not met. The president lacks direct authority to block the Warner Bros. Discovery sale but can instruct the Department of Justice to pursue antitrust litigation. Such explicit White House intervention in corporate governance represents an extraordinary use of presidential influence and risks normalizing political involvement in private merger decisions.
Read at Business Insider
Unable to calculate read time
Collection
[
|
...
]