Trump Bought Netflix, Warner Bros. Bonds at Height of Bidding War vs Paramount

US President Donald Trump bought more than $1.1 million worth of Netflix bonds over the last three months as the streaming giant unsuccessfully fought Paramount-Skydance to buy Warner Bros. Discovery, according to government disclosures, Trevor Hunnicutt and Matt Tracy reported for Reuters.

The purchases came as the Republican president and his regulatory officials talked Netflix down in the press.

Trump bought more than $500,000 of Netflix’s bonds in two transactions on Dec. 12 and Dec. 16, and another more than $600,000 across two additional trades on Jan. 2 and Jan. 20, the disclosures show.

The White House disclosed a range, rather than exact amounts, of between just over $1.1 million and $2.25 million.

The purchases came as the Republican president and his regulatory officials talked Netflix down in the press, calling into question whether the deal would withstand antitrust scrutiny and pressuring Netflix to fire board member Susan Rice, a onetime aide to Democratic former President Barack Obama.

It is unclear whether he made or lost money on Netflix’s bonds, which pay an interest rate of 5.375% and are due in November 2029, since the filing does not disclose if or when he sold the bonds.

Trump, like other US presidents, is exempt from conflict-of-interest laws that prohibit other executive branch officials from investing in companies with business before the government.

He is believed to have bought the bonds through a trust managed by his children.