Trump Threatens Netflix with Consequences Over Susan Rice Role During Merger Talks
Los Gatos, Sunday, 22 February 2026.
President Trump has issued an ultimatum to Netflix to fire board member Susan Rice immediately, explicitly linking corporate governance to political compliance as the streaming giant navigates its $83 billion bid for Warner Bros. Discovery.
Executive Ultimatum on Truth Social
In a direct intervention into corporate governance posted to Truth Social on Saturday, February 21, 2026, President Trump warned that Netflix must “immediately terminate” Rice, a former National Security Adviser and U.S. Ambassador, or face unspecified repercussions [1][2]. The President’s demand was explicit, labeling Rice a “political hack” and stating that she has “no talent or skills” [2]. This ultimatum marks a significant escalation in tensions between the White House and the streaming behemoth, specifically targeting Rice’s position on the board of directors [1]. The President’s statement, “Netflix should fire racist, Trump Deranged Susan Rice, IMMEDIATELY, or pay the consequences,” suggests that the administration may leverage its regulatory power against the company if the demand is not met [2][3].
The ‘Accountability Agenda’ Flashpoint
The catalyst for this confrontation appears to be comments Rice made during an appearance on the “Stay Tuned with Preet Bharara” podcast earlier this week [1][3]. Speaking on Friday, February 20, Rice warned corporate leaders against political acquiescence, stating that corporations that “take a knee” to President Trump should expect an “accountability agenda” if Democrats regain control of the government in future elections [3]. She cautioned that companies violating principles or skirting laws would not be forgiven, advising them to “preserve their documents” and be “ready for subpoenas” [3][5]. These remarks were amplified by conservative activist Laura Loomer, who framed Rice’s comments as a threat of “weaponized government” and urged the President to intervene [5]. Trump explicitly reposted Loomer’s criticism, which also attacked the pending merger by suggesting it would create a monopoly influenced by former President Barack Obama [2][3].
Merger Economics and Regulatory Leverage
This political standoff creates a volatile environment for Netflix (NFLX) as it attempts to close a massive transaction to acquire Warner Bros. Discovery’s studios and HBO Max [4]. The deal, valued at $83 billion, places Netflix in a sensitive position requiring federal antitrust approval [4]. While President Trump had stated earlier in February that he “shouldn’t be involved” in the deal and would leave the matter to the Justice Department, his latest comments indicate a reversal of that hands-off approach [1][4]. This shift is critical because the Department of Justice’s antitrust division, which would review the merger, falls under the executive branch’s purview [2]. In December, Trump had already noted that Netflix’s market share was “very big” and that the acquisition “could be a problem,” signaling early skepticism regarding the consolidation [1].
Timeline of Corporate Maneuvers
The timing of the President’s demand is particularly precarious for the deal’s stakeholders. Warner Bros. Discovery (WBD) had opened a seven-day negotiation window on February 17, 2026, allowing rival bidder Paramount Skydance a final opportunity to make a counter-offer [4]. With that window now closed, the path seemed clearer for Netflix until this weekend’s political intervention [4]. Shareholders of Warner Bros. Discovery are scheduled to vote on the Netflix acquisition on March 20, 2026 [4]. The introduction of a direct conflict with the White House introduces a new variable into the risk assessment for shareholders and executives alike, as the threat to “pay the consequences” could imply regulatory hurdles that might delay or derail the transaction [1][2].