President Donald Trump announced he will stay out of the high-stakes battle between Netflix and Paramount Skydance over control of Warner Bros. Discovery (WBD), leaving the decision entirely to the Department of Justice.
In an exclusive interview with NBC News anchor Tom Llamas on Wednesday, Trump described the shift as a deliberate choice despite outreach from both sides. "I haven’t been involved," he said. "I must say, I guess I'm considered to be a very strong president. I've been called by both sides. It's the two sides, but I've decided I shouldn't be involved. The Justice Department will handle it."
This marks a clear reversal from his stance in December, when he publicly indicated he would personally weigh in on any Netflix-related deal for Warner Bros. assets. At the time, Trump expressed concerns about market concentration, stating that Netflix already held "a very big market share" and that adding Warner Bros. would increase it significantly. He told reporters he would consult economists and added, "I'll be involved in that decision."
WATCH IN FULL: President Donald J. Trump's interview with @LlamasNBC on @NBCNightlyNews and @TopStoryNBC pic.twitter.com/PZYkvyoYBA
— Rapid Response 47 (@RapidResponse47) February 5, 2026
The ongoing contest centers on Warner Bros. Discovery's valuable film and television studios, extensive content library, and iconic franchises, which both Netflix and Paramount Skydance (backed by interests including David Ellison) have pursued aggressively. Netflix has proposed a major acquisition reportedly valued around $72 billion or more for key assets, while Paramount Skydance has mounted a rival bid, including elements of a hostile approach aimed at blocking or outmaneuvering Netflix.
The Department of Justice's antitrust review remains the key hurdle, with potential concerns about reduced competition in streaming and content production. Senate hearings have already featured testimony from executives, including Netflix co-CEO Ted Sarandos, amid scrutiny over market dominance and broader industry implications.
Trump's decision to step back hands the outcome to career regulators, potentially reducing perceptions of direct White House influence on the process. The development comes as the media landscape continues to consolidate amid streaming wars and shifting viewer habits.