Paramount is seeking to block Netflix’s bid for Warner Bros by offering shareholders a higher payout and assuring Donald Trump of “radical changes” at CNN, a network he has long accused of hostility toward his presidency. As reported by The Wall Street Journal, citing people familiar with the matter, the maneuver comes amid intensifying pressure surrounding the deal.
Warner Bros owns CNN, the media asset Netflix aims to acquire. Yet the U.S. Department of Justice has already opened an antitrust review. According to the paper, Trump has told associates he wants CNN under new ownership and its programming lineup overhauled.
On the eve of these developments, the president publicly attacked Paramount for featuring Representative Marjorie Taylor Greene on “60 Minutes.” He argued that CBS, which operates under Paramount’s umbrella, “has become worse” since the media group expanded its influence over the network.
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Trump had earlier said he could block Netflix’s purchase of Warner Bros, arguing that the streaming giant “has a very large share of the market.”