Elizabeth Warren Questions Trump's Role In Tilting Warner Bros. Bid In Favor Of Ellison Family: 'Looks Like Crony Capitalism...'

Sen. Elizabeth Warren (D-Mass.) has accused the Trump administration of corrupting the merger process between Netflix Inc. (NASDAQ:NFLX) and Warner Bros. Discovery (NASDAQ:WBD) in favor of the billionaire Ellison family.

Warren took to X, late Thursday, to express her concerns about a meeting between White House officials and the co-CEO of Netflix, Ted Sarandos.

Wednesday reports indicated that Sarandos was set to meet officials at the White House to discuss the bid for Warner Bros. and President Donald Trump‘s demand to fire board member and former Biden-era advisor Susan Rice. Notably, earlier this month, Trump stated that he would not be involved in the merger.

The Senator suggested that the administration was manipulating the merger process to benefit Paramount SkyDance (NASDAQ:PSKY), owned by David Ellison, the son of Larry Ellison, a Trump ally.

This accusation came on the heels of Netflix’s announcement, on Thursday, that it would not raise its offer to acquire Warner Bros., causing its stock to climb 8.46% in the after-hours.

Warren’s Previous Criticism

In December, Warren had criticized the Netflix-Warner Bros. merger deal as an “anti-monopoly nightmare” which could force consumers into higher prices and fewer deals, while putting the American workers at risk. She had also slammed the antitrust review process under Trump.

Netflix Won't Raise WBD Bid

After WBD's board deemed Paramount Skydance's offer of $31 per share a "superior proposal," Netflix co-CEOs Ted Sarandos and Greg Peters said they would not raise their bid from $27.75 a share. They noted that matching the higher price was no longer “financially attractive,” adding that acquiring WBD was "nice to have" at the right price but not essential to the company's future.

The merger between Netflix and Warner Bros. is a significant event in the media industry, sparking a $108 billion media war, the outcome of which could reshape the entire entertainment landscape.

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