White House Disclosure Reveals Up to $2M in Bond Purchases Days After Megadeal; EU-Hollywood 'Triangular Power Game' Intensifies

K-EnterTech Hub Industry Analysis Team  |  January 16, 2026

President Donald Trump acquired corporate bonds issued by Netflix and Warner Bros. Discovery valued as high as $1 million each, just days after Netflix announced its blockbuster $83 billion deal for Warner Bros., according to a financial disclosure released by the White House. The emergence of the regulatory approval authority holder as a 'stakeholder' amplifies uncertainty around Hollywood's largest-ever M&A, colliding with Paramount Skydance's $108.4 billion hostile bid and European theater industry's warning to the EU.

White House Disclosure Reveals 'Silent Bet'

According to The Hollywood Reporter, President Donald Trump may or may not be able to buy Greenland, but he can definitely buy some exposure to the entertainment business.

A financial disclosure released by the White House late Thursday showed that Trump acquired corporate bonds issued by Netflix and Warner Bros. Discovery, valued as high as $1 million each.

The disclosure, dated January 14, lists dozens of transactions with a total value well over $100 million, including the acquired debt from the entertainment companies. The document does not list the precise value of each purchase, instead offering a range.

▶ Trump's Entertainment Bond Purchases

Issuer

Purchase Date

Value Range

Maturity

Netflix

Dec. 12, 2025

$250,001-$500,000

Nov. 2029

Netflix

Dec. 16, 2025

$250,001-$500,000

Nov. 2029

Discovery Comm. (WBD)

Dec. 12, 2025

$250,001-$500,000

2030

Discovery Comm. (WBD)

Dec. 16, 2025

$250,001-$500,000

2030

Estimated Total (Entertainment)

Up to $2 Million

Trump also acquired a similar number of corporate bonds issued by SiriusXM, the filing shows, alongside dozens of other purchases. Most of the bonds he acquired in December were municipal bonds from states and cities across the country, but it also included many corporate bonds from major U.S. companies, including General Motors, Boeing, Macy's and Victoria's Secret.

Timing and Conflict of Interest Concerns

The timing raises questions. The purchase of the Netflix and WBD debt securities began just a week after the two companies inked their megadeal, though David Ellison's Paramount is trying to pry WBD away from Netflix with a hostile tender offer, and a potential proxy fight.

Of course, any deal will need to be approved by U.S. regulators, and Trump has said publicly that he expects to weigh in on it, with his Department of Justice expected to take the lead on challenging a merger. The fact that the regulatory approval authority holder now owns bonds in the companies subject to approval could raise potential conflict of interest concerns.