Netflix and Paramount, two large American media companies, are fighting to purchase Warner Bros Discovery. Now, US President Donald Trump and the Department of Justice are getting involved. The FT’s Los Angeles bureau chief Christopher Grimes and US deals and activism correspondent Oliver Barnes explain the president’s connections to both potential buyers and the legal scrutiny facing those companies.

Mentioned in this podcast:

Activist investor takes aim at Warner Bros deal with Netflix

Donald Trump’s top antitrust enforcer Gail Slater pushed out as turf war deepens

Swamp Notes was hosted this week by Sonja Hutson and is produced by Henry Larson. This week’s show was mixed by Sam Giovinco. Special thanks to Pierre Nicholson. Our executive producer is Topher Forhecz and the FT’s global head of audio is Cheryl Brumley.

The FT does not use generative AI to voice its podcasts.

CREDIT: KARE, FOX Business, CBS News

Read a transcript of this episode on FT.com

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Trump’s starring role in the Warner Bros fight

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