The co-CEO of Netflix, Ted Sarandos, has publicly addressed former US President Donald Trump's demand that the streaming giant remove former national security advisor Susan Rice from its board of directors. Sarandos made the comments to the BBC's Today programme, framing Netflix's attempt to acquire Warner Bros. as a commercial matter subject to regulatory approval.
Trump's intervention came via a post on his Truth Social platform on Saturday, where he called for Rice's removal "or pay the consequences." This followed comments Rice made on a podcast criticising corporations that "take a knee to Trump," suggesting they could face future retribution from a Democratic administration.
CEO Emphasises Regulatory Process
When questioned by the BBC, Sarandos downplayed the significance of the former president's social media activity. "He likes to do a lot of things on social media," Sarandos stated. He stressed that the proposed acquisition of Warner Bros. is "a business deal. It's not a political deal," and is being reviewed by the US Department of Justice and regulators globally.
The bid is unfolding during a sensitive period, as Netflix competes with Paramount Global to purchase Warner Bros. Discovery. A successful acquisition by either company would require clearance from the Department of Justice's antitrust division.
Shifting Stance and Deal Dynamics
Trump's position on the deal appears to have shifted. Earlier in the month, he indicated he "shouldn't be involved," but his weekend post marked a direct attempt to influence corporate governance at Netflix. Business Insider's Peter Kafka characterised Trump's demands as an "extraordinary use of power," highlighting the potential for White House involvement in major media mergers.
Sarandos pitched the economic benefits of Netflix's offer to the BBC, describing it as a "vertical merger" that would add new assets to the market and stimulate "growth in the economy." In contrast, Paramount's bid seeks to acquire the entirety of Warner Bros.
Paramount has until the end of Monday to increase its offer for Warner Bros., setting a deadline for the next potential development in the corporate battle. The outcome remains contingent on regulatory decisions, irrespective of political commentary.