Trump Steps Back from Streaming Giants' Battle

U.S. President Donald Trump has decided not to involve himself in the competitive battle between Netflix, Paramount Skydance, and Warner Bros Discovery. The Justice Department will review Netflix's $82.7 billion offer, amidst claims from both sides about market dominance and regulatory concerns. Paramount's deep financial ties raise questions.

Amid an intense corporate battle among media giants, U.S. President Donald Trump announced he will abstain from interfering in the conflict involving streaming titans Netflix, Paramount Skydance, and Warner Bros Discovery. Previously stating he'd play a pivotal role, Trump's reticence signals a notable reversal.

The President emphasized that the decision-making will rest solely in the hands of the Justice Department, which is currently evaluating a substantial $82.7 billion bid from Netflix. This emerges against a backdrop of ongoing tensions, with each party raising substantial arguments about market share and influence.

Adding a layer of complexity, Paramount Skydance counters with an alternative bid, albeit saddled with potential regulatory hurdles and financial risks. CEO David Ellison's familial connection to Trump highlights underlying personal dynamics in this high-stakes drama.

(With inputs from agencies.)