The competition for Warner Bros. Discovery (WBD) has intensified, with Netflix announcing a bid of $83 billion, followed by a $108 billion hostile takeover attempt from Paramount Skydance, which has connections to former President Donald Trump through Jared Kushner's private equity firm, Affinity Partners. Trump's influence in this context has been noted, although he has publicly maintained a neutral stance regarding the competing bids.

Netflix co-CEO Ted Sarandos previously sought to gain favor with Trump by visiting the White House to discuss the future of Warner Bros. Paramount Skydance, led by David Ellison, son of billionaire Larry Ellison, has indicated potential changes to CNN if its acquisition is successful. Ellison's close ties to Trump have raised questions about the implications of political connections in corporate acquisitions.

The regulatory review process for the Netflix-WBD deal is expected to extend over a year. While the U.S. President does not have unilateral authority over corporate acquisitions, perceptions of Trump's influence could affect the outcome. Craig Aaron, president of the media watchdog Free Press, highlighted the unusual nature of corporate leaders seeking personal approval from a president in such transactions.

Historically, major mergers are evaluated by the Justice Department and the Federal Trade Commission (FTC) without direct presidential influence. However, Trump's previous attempts to block the AT&T-Time Warner merger during his first term illustrate the complexities surrounding corporate consolidation and regulatory oversight. Despite his opposition, that merger was ultimately approved by a federal appeals court.

Concerns have also been raised regarding the involvement of Middle Eastern sovereign wealth funds in the financing of Paramount's bid, which includes investments from Saudi Arabia, Qatar, and Abu Dhabi. These foreign investments have sparked debates about governance rights and the implications for U.S. media ownership.

As the bidding war continues, Warner Bros. Discovery plans to separate its linear TV properties from the rest of the company, while Netflix's offer includes acquiring film and television studios, along with HBO and HBO Max. The ongoing negotiations reflect the intricate interplay of corporate interests, media ownership, and political affiliations in the current media landscape.