President Donald Trump signaled he’ll oppose a Warner Bros. Discovery Inc. deal that doesn’t include new ownership of CNN, a potential wrinkle for the bid from Netflix Inc.
“I think any deal should — it should be guaranteed and certain that CNN is part of it or sold separately,” Trump said during a meeting with business leaders Wednesday at the White House.
“I don’t think the people that are running that company right now and running CNN, which is a very dishonest group of people, I don’t think that should be allowed to continue,” he added. “I think CNN should be sold along with everything else.”
Trump said his primary concern is that the current management of the network may be rewarded by being allowed to continue operating “with money” from a sale. Warner Bros. is the target of competing offers from Netflix and Paramount Skydance Corp.Play Video
Netflix has agreed to buy the Warner Bros. TV and film studios and its HBO business in a deal valued at $27.75 a share. Warner Bros. plans to spin off its cable channels, including CNN, before it closes the Netflix transaction. The spinoff is scheduled for the third quarter of next year, with Warner Bros. Chief Financial Officer Gunnar Wiedenfels named to lead the business.
