President Donald Trump has publicly demanded that Netflix remove Susan Rice from its board or face “consequences,” escalating his involvement in the high‑stakes takeover fight over Warner Bros. Discovery (WBD). The warning, posted on his Truth Social account, targeted Rice — a former national security adviser to Barack Obama and ex‑U.S. ambassador to the United Nations who rejoined Netflix’s board in 2023. The intervention comes as Netflix and Paramount Skydance race to finalize rival bids for WBD, a deal that must still clear federal regulators. The exchange has sharpened political and industry concern about corporate governance and potential partisan pressure on private companies amid a major media consolidation battle.
Key takeaways
- Donald Trump posted on Truth Social that Netflix should oust Susan Rice or “face the consequences,” repeating the line “HER POWER IS GONE, AND WILL NEVER BE BACK.”
- Susan Rice served as national security adviser to Barack Obama and as UN ambassador; she was on Netflix’s board 2018–2020 and rejoined in 2023 on its nominating and governance committee.
- The exchange intervenes in a takeover contest for Warner Bros. Discovery, where Paramount Skydance has lodged a $108.4bn bid backed by a $40bn personal guarantee from Larry Ellison.
- Netflix’s offer would bring Warner Bros., HBO and other prized assets under Netflix’s control; that tie‑up has prompted concerns regulators and industry figures about market concentration.
- Trump previously said in early February he would let the Justice Department handle any WBD takeover review, but his recent posts mark a renewed public attempt to influence the dispute.
- Rice recently told a podcast that corporations, law firms and news organisations that showed loyalty to Trump could be held to account if Democrats regained power, a comment that Trump cited in his criticism.
Background
The contest to acquire Warner Bros. Discovery has become one of the most consequential media takeover battles since streaming reshaped the entertainment industry. Warner Bros. and HBO hold marquee franchises and premium scripted series — assets that could reshape subscriber dynamics and content budgets if consolidated under a single streaming company. Netflix, already the largest global subscription streamer, proposed a transaction that would fold WBD’s studios and streaming services into its library, prompting scrutiny about market share and competitive effects.
Paramount Skydance mounted a rival bid to block Netflix’s path, putting forward a $108.4bn proposal backed by a $40bn personal guarantee from Larry Ellison, according to reporting. Any acquisition of WBD requires regulatory approval from federal agencies that evaluate antitrust and competition concerns. Against this commercial backdrop, board compositions and executive relationships at acquirers have drawn heightened attention from political actors and interest groups.
Main event
On Saturday, Trump amplified criticism of Susan Rice on his Truth Social account, asking rhetorically how much she was paid and arguing her influence was finished. The message followed Rice’s recent podcast remarks that she would hold accountable organisations that appeared to reward loyalty to the former president. Trump also reshared a post by right‑wing influencer Laura Loomer that labelled Rice and Netflix “anti‑American,” framing the matter as both political and moral for his supporters.
Rice was on Netflix’s board from 2018 to 2020 and rejoined in 2023; she serves on the nominating and governance committee that advises on board composition and corporate oversight. Netflix confirmed she was a member of that committee in public filings and leadership listings, and her return drew attention given her public service roles in previous administrations. Her role has become a focal point for critics who view corporate board seats as political signals rather than governance responsibilities.
The timing of Trump’s intervention matters: Paramount Skydance has only days left to submit its best and final offer to compete with Netflix’s standing proposal. That deadline has intensified public and private pressure on all parties, including WBD shareholders assessing competing valuations and potential regulatory obstacles. The dispute has played out in public filings, media reports and an escalating stream of social posts and statements from involved parties.
Analysis & implications
Trump’s demand that Netflix remove a specific board member marks an unusual public attempt by a sitting president to influence the personnel choices of a private corporation during an active acquisition battle. While presidents often comment on business deals, directly calling for the ouster of an identifiable corporate director raises questions about executive influence on private governance and the norms that separate political rhetoric from corporate decision‑making. If sustained, such pressure could encourage similar interventions in future commercial disputes.
From a regulatory perspective, the takeover will be judged on competition grounds rather than board composition; federal agencies will assess whether a combined Netflix‑WBD would substantially lessen competition in streaming, advertising or content markets. Nonetheless, public political pressure can shape the environment in which regulators operate, affect investor sentiment and increase reputational risk for firms and directors named in high‑profile disputes. Market participants will be watching whether the White House declines to comment further or whether the DOJ or FTC signals heightened scrutiny.
Economically, consolidation of major studios and streaming libraries has been driven by subscriber growth pressures and rising content costs. A Netflix acquisition of WBD would give it control of franchises and premium scripted output that could materially change content bargaining dynamics. That scale could deliver cost synergies but also invite tougher remedies from regulators or dealbreaking opposition from lawmakers worried about media concentration and cultural influence.
Comparison & data
| Bidder | Proposed value | Backstop/guarantee | Primary assets targeted |
|---|---|---|---|
| Paramount Skydance | $108.4 billion | $40 billion personal guarantee (Larry Ellison) | Warner Bros. studios, HBO, streaming operations |
| Netflix | Existing offer (publicly reported terms unchanged) | Not publicly disclosed in full | Warner Bros. studios, HBO, WBD streaming library |
The table summarises public figures and reporting about the competing approaches. Paramount’s $108.4bn figure and Ellison’s $40bn guarantee are drawn from press reporting; Netflix’s overall price and financing details have not been fully disclosed in public reports at the same level of granularity. Analysts say regulatory review and shareholder votes will ultimately decide whether any deal can close under the current proposals.
Reactions & quotes
“HER POWER IS GONE, AND WILL NEVER BE BACK.”
Donald J. Trump (Truth Social)
Trump’s all‑caps declaration was posted publicly and recirculated by allies, intensifying scrutiny of Rice’s corporate role and fuelling partisan commentary.
“Corporations, law firms and news organisations that showed loyalty to Trump would be held accountable if the Democrats returned to power.”
Susan Rice (podcast)
Rice’s remarks on the podcast focused on accountability mechanisms and drew criticism from some who viewed them as a political threat to private entities; supporters framed her comments as holding institutions accountable for democratic norms.
“Anti‑American”
Laura Loomer (social media)
Right‑wing commentators have used terms like this to rally opposition to Rice and to pressure Netflix; critics of that rhetoric say it politicises corporate governance and risks intimidating directors.
Unconfirmed
- The exact amount Netflix pays Susan Rice for her board service and the terms of any contract have not been publicly confirmed.
- Whether Netflix will remove Rice in response to political pressure is unconfirmed and would depend on board processes and legal considerations.
- Any suggestion that the White House could direct federal regulators to act specifically because of Rice’s position is unverified; regulatory reviews are formally independent though political context can matter.
Bottom line
President Trump’s public demand that Netflix remove Susan Rice adds a political flashpoint to an already complex commercial contest for Warner Bros. Discovery, highlighting how personnel decisions at corporate boards can become entangled with broader political conflicts. While the takeover outcome will hinge on offers, shareholder votes and regulatory review, the episode underscores the reputational and governance risks for companies whose board memberships draw partisan attention.
Investors, regulators and media stakeholders should watch two threads closely: whether political pressure prompts any corporate change at Netflix, and how regulators weigh market concentration concerns if a deal proceeds. In the short term, the competing bids and heightened public scrutiny make closing any transaction more uncertain; in the longer term, the dispute could influence how companies manage board appointments and public communications during politically sensitive deals.
Sources
- The Guardian — UK newspaper reporting on the lawsuit, comments and takeover context (media).
- Netflix — Leadership — official company page listing board members and governance roles (official).
- Warner Bros. Discovery — Investor Relations — official company filings and investor information regarding the company and potential transactions (official).