CNN, Netflix and Warner
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President Donald Trump inserted himself directly into the battle for control of Warner Bros. Discovery on Wednesday, saying, “It’s imperative that CNN be sold,” while deriding the network’s news coverage.
The president's comments are notable because the proposed deal with Netflix wouldn't include cable channels owned by Warner Bros. Discovery, such as CNN and TNT.
Netflix co-CEOs Greg Peters and Ted Sarandos sought in a letter to tamp down concerns that the streaming giant is not committed to the movie business.
Netflix is preparing for a lengthy legal review of its bid to buy Warner Bros., and President Trump is keeping his options open.
Some of Wall Street’s biggest rainmakers are vying for a windfall as the Paramount-Netflix bidding war for Warner Bros Discovery reaches a climax, capping a blockbuster year for mergers and acquisitions.