Trump pressures Netflix to ‘fire’ board member Susan Rice, warns of ‘consequences’
American president Donald Trump has warned that Netflix will face “consequences” if it does not “fire” board member Susan Rice, a former US policy advisor to Joe Biden, for saying that companies who have cozied up to the Trump administration would be “held accountable” if the Democrats return to power.
Trump’s comments, made on Saturday via his social media platform Truth Social, came after Rice said on a podcast that it would “not end well” for news organisations and corporations who have “bent the knee” to the Trump administration.
“Netflix should fire racist, Trump Deranged Susan Rice, IMMEDIATELY, or pay the consequences,” he said.
“She’s got no talent or skills – Purely a political hack! HER POWER IS GONE, AND WILL NEVER BE BACK. How much is she being paid, and for what??? Thank you for your attention to this matter.”
While the nature of these “consequences” is unclear, Trump has made it known that he is keeping a close eye on the regulatory approval process surrounding Netflix’s deal to acquire Warner Bros Discovery (WBD)’s studio and streaming businesses. The US president initially suggested he would be “involved” in whether the US Department of Justice (DOJ) approves the deal, though earlier this month said he had “decided I shouldn’t be involved.”
This marks the first time Trump has publicly gone after Netflix since the streaming giant announced its definitive agreement to acquire Warner Bros Discovery (WBD)’s studio and streaming businesses in early December. The US president has previously suggested Netflix buying WBD “could be a problem” based on the combined market share – and even expressed admiration for the Netflix co-CEO Ted Sarandos in December – but these latest comments represent a change in tone.
It is hard to know how much stock to put into comments made by Trump on Truth Social. Paramount owners the Ellison family, who are pursuing a hostile bid to acquire all of WBD, have also come under fire from Trump in recent months. In December, Trump was critical of Paramount-owned CBS News’ coverage, saying: “For those people that think I am close with the new owners of CBS, please understand that 60 Minutes has treated me far worse since the so-called ‘takeover,’ than they have ever treated me before. If they are friends, I’d hate to see my enemies.”
Trump’s outburst comes at a crucial moment in the race to buy WBD. Last week, WBD announced that it was reopening sale talks with Paramount, despite the fact Netflix has a definitive agreement in place to buy WBD’s studio and streaming assets for US$27.75 per share, the equivalent of US$82.7bn including the assumption of some debt. According to Netflix and WBD, the streaming giant agreed to grant a seven-day waiver, allowing WBD and Paramount to begin discussions once again.
Paramount has repeatedly sweetened its bid for the entirety of WBD after having multiple offers rejected. Its most recent official offer is for US$30 per share, though Paramount has orally told WBD’s board that it will rise to US$31 per share – which it made clear is not its “best and final” offer. The seven-day window ends today (February 23). If Paramount were to make an offer deemed “superior,” Netflix would have the chance to match.
The DOJ is investigating whether Netflix’s proposed WBD deal could create a monopoly, lessen competition in the streaming space, and give the combined entity undue leverage over creators in negotiations, according to Bloomberg.
Paramount on Friday claimed it had cleared a key regulatory hurdle with the DOJ and that there is “no statutory impediment” to its deal being approved in the US. However, Netflix pushed back on that characterisation, with chief legal officer David Hyman saying Paramount “continues to mislead stockholders and distract from the facts.” Hyman added that “routine” milestones do not signal DOJ approval nor that any decision has been made. They have not secured approvals needed to close and they are a long way from doing so.”
Trump’s Truth Social comments about firing Rice add another layer of drama to the circus surrounding Netflix and Paramount’s tussle over WBD. Netflix has not yet responded, though there can be no doubt that it finds itself in a delicate situation.
Rice initially served on Netflix’s board of directors from 2018 to 2020. She rejoined the board in September 2023.
