Overview
- In a pre–Super Bowl NBC interview, Trump said he has been contacted by both sides but will let the DOJ handle the case, reversing his December remarks about getting involved.
- The Justice Department is reviewing the competing deals for potential antitrust issues, and the Federal Trade Commission also has authority over aspects of the bidding contest.
- Netflix shares rose more than 1.7% in premarket trading after the comments, according to market data reported Thursday.
- Netflix has an approximately $82–83 billion agreement to buy Warner’s studios and streaming assets, while David Ellison’s Paramount Skydance launched a hostile offer valued around $108–109 billion for the entire company.
- Warner’s board has favored Netflix’s proposal as Paramount pursues litigation for more disclosure, and Netflix has revised its bid to an all-cash offer while regulatory reviews, shareholder processes and legal challenges continue.