Paramount’s hostile bid for Warner Bros. shaken
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President Donald Trump inserted himself directly into the battle for control of Warner Bros. Discovery on Wednesday, saying, “It’s imperative that CNN be sold,” while deriding the network’s news coverage.
The president's comments are notable because the proposed deal with Netflix would not include cable channels owned by Warner Bros. Discovery, such as CNN, TNT.
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Donald Trump Opposes Warner Bros. Discovery Retaining Ownership Of CNN In Any Merger Transaction
Donald Trump weighed in again on the potential sale of Warner Bros. Discovery, this time by saying that he opposes any plan in which the company continues to own CNN. Trump told reporters on Wednesday that there were “some good companies bidding on it.
Kara Swisher has vowed to quit her job as a CNN contributor if Paramount ends up buying Warner Bros. Discovery. “I’m walking right out of there the day they get there,” Swisher told her Pivot podcast co-host Scott Galloway on Friday. “I’m walking, and there’s no way I’m working for these terrible people.”
Netflix’s most recent offer, submitted on Thursday, valued the Warner Bros. studio, HBO Max streaming service and related parts of the company at around $28 per share, sources said.
Speaking with reporters, President Donald Trump insisted CNN should be included in any sale of Warner Bros. as Netflix and Paramount ramp up their bidding war.
President Donald Trump signaled he’ll oppose a Warner Bros. Discovery Inc. deal that doesn’t include new ownership of CNN, a potential wrinkle for the bid from Netflix Inc.