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Hollywood has a rich history of personal vendettas, political discord and uncertain loyalties shaping the industry. It just usually doesn’t involve the US president.

Donald Trump’s declaration that he will involve himself in the proposed sale of Warner Bros. Discovery Inc. has thrust an already tumultuous battle between Netflix Inc. and Paramount Skydance Corp. over some of the crown jewels of Tinseltown into uncharted waters.

The decision to inject himself is particularly extraordinary given Trump’s own conflicts and interests, according to legal experts.

Trump has already signaled one personal precondition for a sale: new ownership of longtime bogeyman CNN, in a bid to exert more favorable coverage from the cable network. But the connections don’t stop there for a president who considers himself the dealmaker-in-chief.
 
Trump’s son-in-law and former aide, Jared Kushner, has helped arrange financing for Paramount chief David Ellison, whose father, Larry Ellison, is a longtime donor and supporter.

The president has received entreaties from both sides. Netflix co-Chief Executive Officer Ted Sarandos has mounted a charm offensive of his own, meeting repeatedly with Trump and even chatting about how the first family were “big fans” of the streamer. The tech giant has spent recent months expanding its lobbying operation in Washington, seeking to boost its influence across a city now controlled by Trump and his allies.

Today's show features:

• Bloomberg News Media Reporter Hannah Miller on Disney’s $1 billion investment in OpenAI and the political battle brewing over a potential Warner Bros. Discovery merger
• Lauren Goodwin, Economist and Chief Market Strategist at New York Life Investments on the market and economic outlook heading into 2026
• Cathy Seifert, Senior Vice President and Equity Analyst at CFRA Research, and Bloomberg News Investing Team Co-Team Leader Katherine “Kat” Chiglinsky, on expectations for Berkshire Hathaway as Warren Buffett prepares to step down
• Jay Goldberg, Senior Analyst, Semiconductors & Electronics with Seaport Research Partners, breaks down Broadcom’s earnings report and outlook