.jpeg "Trump Bought Netflix and Warner Bros. Discovery Bonds After Blockbuster Deal Announcement")
The disclosure, made public Friday by the White House, shows that Trump purchased between $250,001 and $500,000 in Netflix bonds on Dec. 12 and Dec. 16. He bought bonds in the same dollar range on the same dates from Discovery Communications, a subsidiary of Warner Bros. Discovery. The filing covers Trump’s financial transactions from mid-November through late December.
Deal That Sparked Attention
On Dec. 5, Netflix and Warner Bros. Discovery announced an $82.7 billion enterprise deal. Under the agreement, Netflix would acquire Warner Bros.’ film and TV studios, HBO, HBO Max, and its gaming division. Warner Bros. Discovery’s TV networks would not be part of the sale and instead would be spun off into a new company called Discovery Global, expected to be distributed to shareholders in the third quarter of 2026.
The size of the deal immediately raised antitrust and market power questions, given Netflix’s already dominant position in streaming.
Mostly Bonds, Mostly Municipal
Trump’s disclosure shows that the majority of his recent investments were in municipal bonds, including those tied to cities, school districts, utilities, and hospitals. In addition to Netflix and Warner Bros. Discovery, he also purchased corporate bonds from companies such as SiriusXM, Boeing, General Motors, Macy’s, Occidental Petroleum, and Whirlpool.
According to the White House, Trump’s investment portfolio is managed independently by third-party financial institutions. Officials said neither Trump nor his family has any role in directing or influencing specific investment decisions.
White House Meetings and Deal Review
The bond purchases drew additional scrutiny because Trump has publicly involved himself in discussions around the Netflix–Warner Bros. Discovery deal.
In December, Trump met with Netflix co-CEO Ted Sarandos at the White House, where the Warner Bros. Discovery transaction was discussed. Speaking to reporters last month at the Kennedy Center Honors in Washington, D.C., Trump said the deal would require regulatory review and added, “I’ll be involved in that decision.”
He also warned that the combined market share of Netflix with Warner Bros. studios and HBO Max “could be a problem.”
CNN and Political Tensions
Trump has also weighed in on the future of CNN, which is owned by Warner Bros. Discovery. He said that CNN should be sold either as part of any broader deal or separately, sharply criticizing the network’s current leadership. Trump argued that existing management should not benefit financially from a sale.
Rival Bid Adds Pressure
At the same time, Netflix and Warner Bros. Discovery are facing pressure from David Ellison and Paramount Skydance, which has launched a hostile takeover bid for Warner Bros. Discovery. Paramount Skydance is offering $30 per share and claims its proposal is better for shareholders than Netflix’s deal.
Paramount has sued Warner Bros. Discovery, seeking access to detailed financial information, including how the company is valuing the Discovery Global spin-off. It has also said it is prepared to initiate a proxy fight to install new board members who would support its bid.
Trump: “None of Them Are Great Friends of Mine”
Asked during a White House briefing on Dec. 8 whether he favored Paramount Skydance’s rival offer, Trump said he did not yet know enough to take a position. He said any decision would depend on how each proposal affects market share for Netflix and Paramount.
Summing up his stance, Trump added bluntly: “None of them are particularly great friends of mine.”
As regulators, investors, and competitors circle one of the biggest media deals in years, Trump’s bond purchases and public comments ensure the transaction will remain under intense political and financial scrutiny.
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