Netflix(US:NFLX) Hua Er Jie Jian Wen·2025-12-11 00:43Core Viewpoint - President Trump has stated that any acquisition of Warner Bros must involve a change in CNN's ownership structure, increasing the political complexity of related merger transactions [1][2]. Group 1: Acquisition Dynamics - Netflix has agreed to acquire Warner's studio and HBO Max streaming division for $72 billion in cash and stock, excluding CNN from the deal [1][3]. - Paramount has made a hostile takeover bid of $77.9 billion, aiming to acquire the entire Warner Bros company, including CNN [1][3]. - Trump's intervention complicates Netflix's position, as they are not interested in the news business, while Paramount's bid directly addresses CNN's future [1][3][5]. Group 2: Structural Challenges - Trump's desire for CNN to change ownership poses a significant challenge for Netflix, as their current proposal does not include CNN [4]. - If CNN is to be sold to meet Trump's demands, it would disrupt the planned split of Warner Bros and complicate the transaction execution [4]. Group 3: Political and Management Pressure - Paramount's CEO David Ellison has assured Trump that significant changes will be made to CNN if the acquisition is successful, giving Paramount a more direct response capability to Trump's media restructuring demands [5]. - Trump's longstanding dissatisfaction with CNN is evident, as he publicly criticized a CNN reporter, reinforcing his call for CNN's restructuring or sale [6].