Trump Reacts to Netflix Deal, Says Ted Sarandos Has Done ‘Incredible Job'
President Donald Trump has praised Netflix co-CEO Ted Sarandos, saying he has done "a phenomenal job", while warning that the media streamer’s proposed $82.7 billion purchase of Warner Bros. gives it a "very big market share" which "could be a problem," raising questions over how his administration will handle the deal.
Trump was asked about the Netflix-Warner Bros. deal by Deadline’s D.C. correspondent Ted Johnsonahead of Sunday night's Kennedy Center Honors in Washington, D.C., his first public comments since the acquisition was announced last week.
Why It Matters
Netflix has agreed an $83 billion takeover of Warner Bros Discovery’s TV and film studios, in a deal that hands one of Hollywood’s most prized assets to the streaming giant.
Netflix won the deal at auction, seeing off rival bids by the David Ellison-led Paramount and Comcast.
The deal, which remains subject to shareholder and regulatory approval, will put two of the industry's biggest players under one roof, equipping the world's largest streaming platform with one of the largest film and television catalogues. Netflix would subsequently control one of Hollywood's most valuable libraries of content, including Harry Potter, Game of Thrones, The Sopranos and DC Comics.
The transaction has elicited questions about market concentration and the potential fallout for competition in the media ecosystem. Data shared with Newsweek by streaming guide JustWatch, based on analysis of its roughly 20 million monthly U.S. users, found that the combination of Netflix, HBO Max and Discovery would control 34 per cent of the American subscription video on demand (SVOD) market.
This would place it well above the next closest platform, Prime Video, which controls an estimated 21 percent.
The president also said the deal will "have to go through a process" and that economists would need to weigh in, adding: "I'll be involved in that decision too."
What To Know
Netflix and Warner Bros. announced the proposed $82.7 billion acquisition early Friday, with Netflix promising to maintain Warner Bros.' current operations, including theatrical releases. The cash and stock deal is valued at $27.75 per WBD share.
Netflix was one of several major entertainment players interested in acquiring WBD, with others including Comcast and Paramount. Netflix emerged as the frontrunner earlier this week, after beating out Paramount's bid of $27 per share.
On a Friday conference call with Wall Street analysts about the deal, Sarandos acknowledged that some observers were "surprised" the company is making such a large purchase after years of focusing on building rather than buying.
But he argued it is a "rare opportunity" that will help Netflix achieve its mission "to entertain the world and to bring people together through great stories," while stressing that the streamer "can't stand still" in a world of exploding consumer choice.
Sarandos also pointed to Netflix's evolution from a DVD-by-mail service into a streaming platform that later moved into original programming and live events, saying the company needs to keep "innovating and investing in stories that matter most to audiences" and that the Warner Bros. deal is "what this deal is all about."
The acquisition is expected to face heavy regulatory scrutiny, given the scale of bringing Warner Bros. – one of Hollywood's most storied studios – under Netflix's umbrella at a time when competition and consolidation in streaming are already under close watch in Washington.
What People Are Saying
President Donald Trump on Netflix's Ted Sarandos, told Deadline: "I think he's fantastic. In the history of Hollywood there's almost been nothing like him. You go back to Louis B. Meyer maybe, Metro Goldwyn Mayer, MGM. Ted has done an incredible job. He had a company that was very troubled seven or eight years ago, and he took it over, and he's really done a legendary job."
Cinema United, a group representing theater owners, said the proposed acquisition: “Poses an unprecedented threat to the global exhibition business. The negative impact of this acquisition will impact theatres from the biggest circuits to one-screen independents in small towns in the United States and around the world."
Warner Bros. Discovery boss David Zaslav said on Friday: “Today's announcement combines two of the greatest storytelling companies in the world to bring to even more people the entertainment they love to watch the most.”
What Happens Next
Trump told reporters the deal will have to go through "a process," signaling a lengthy review by regulators before Netflix can close its purchase of Warner Bros. He said economists would need to weigh in on whether Netflix "should be allowed" to buy the studio, emphasizing that the combined company's "very big market share".
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This story was originally published December 7, 2025 at 9:33 PM.