"Before Netflix made its winning bid for Warner Bros., its co-CEO pitched President Donald Trump directly on the merits of the deal. The pair found common ground, Netflix co-CEO Ted Sarandos said. "The president's interests in this are the same as ours, which is to create and protect jobs," Sarandos said of Trump at the UBS media conference on Monday afternoon."
"Sarandos said he'd talked to Trump "many times since the election about the different challenges facing the entertainment industry." "The president cares deeply about the entertainment industry, and he loves the entertainment industry," Sarandos continued. Trump praised Sarandos on Sunday, calling him a "great person" who he said had done "one of the greatest jobs in the history of movies.""
Netflix reached an $82.7 billion deal for Warner Bros.' streaming and studio assets, including $72 billion in equity, excluding WBD's TV networks like CNN and HGTV. Paramount Skydance countered with a $30-per-share all-cash hostile offer for all of Warner Bros. Discovery, including its TV networks. Netflix's offer equals $27.75 per share, composed mostly of cash and some stock. Ted Sarandos said he pitched President Donald Trump on the deal, citing shared interests to create and protect jobs, and noted prior conversations about entertainment industry challenges. Trump praised Sarandos but cautioned that Netflix's large streaming market share could pose regulatory concerns.
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