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Netflix taking pole position to win the race for Warner Bros. Discovery sent shockwaves through Hollywood, partially because it was presumed that Paramount Skydance CEO David Ellison had the support of President Donald Trump.
Now multiple sources tell The Hollywood Reporter that Netflix may also have received some sort of blessing by Trump, or at least his ear. Insiders says that Netflix co-CEO Ted Sarandos spoke with the President in the last couple of weeks in a confab that lasted about two hours.
“We do not discuss private meetings that may or may not have occurred,” a White House official told THR. Netflix did not respond to multiple requests for comment on Friday and over the weekend.
While sources did not know what the two men discussed, it does seem to point to an outcome that led to Netflix feeling they had a clear enough runway to make a serious play for the historic studio. The streaming giant made the winning bid for the David Zaslav-led WBD, after offers that exceeded a $28 share price. That also meant agreeing to a $5.8 billion break up fee in case any deal falls through.
The $82.7 billion deal will need to navigate a complex regulatory environment. Ellison and his executives believed that their deal would have an easier path to approval because of his ties, and that of his father, Larry Ellison, to the White House.
If Sarandos made a pitch of his own, it may explain why Trump has been quiet on the deal, an unusual thing given how outspoken he is, particularly when it comes to major media stories.
This would not be the first time Sarandos has sat down with Trump. The two men had a long dinner at Mar-a-Lago late last year, with the executive recalling that both First Lady Melania Trump and Barron Trump were Netflix fans. “We didn’t talk any shop,” Sarandos said in March.
The more recent meeting, it seems, may have been a different story.
Alex Weprin contributed to this report.