Can Trump Kill the Netflix-WBD Deal?

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“I think people have this idea that a merger won’t happen unless the Trump administration gives its nod. That’s not necessarily the case,” Puck’s Eriq Gardner told Peter Hamby. Photo: Roberto Schmidt/AFP/Getty Images
Peter Hamby
December 5, 2025

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Earlier this week, I sat down with my partner Eriq Gardner, Puck’s resident legal authority, to discuss the White House’s… transactional approach to regulatory and antitrust enforcement. Needless to say, the current administration’s position on which companies should be allowed to merge is driven more by personal politics than universal principles. Indeed, when it came to Paramount Skydance’s bid to acquire Warner Bros. Discovery, Donald Trump and his allies made no secret of the fact that they favored David and Larry Ellison, and that any other suitors would face far greater regulatory scrutiny. Then Hollywood woke up to the news that Warners is selling to… Netflix.