U.S. President Donald Trump purchased corporate bonds from Netlfix and Warner Bros. Discovery (WBD) valued at $1 million each, days after the two entertainment titans announced the mega-merger deal.
A financial report released Thursday night by the White House exposed two tranches of Netflix bonuses valued between $250,000 and $500,000 each, and made on Dec. 12 and Dec. 16.
Among the almost 200 transactions carried out by the US president between November 14 and December 19 that appear in the document, another one stands out: the purchase of bonds from Discovery Communications LLC, a subsidiary of WBD, for the same amount and on the same day as those purchased from the entertainment colossus.
The case of Netflix and Warner Bros.
Netflix and WBD reached an initial purchase agreement last December 5 that reached $82.7 billion in a combination of cash, equity and debt.
The entertainment behemoth’s offer of $27.75 per share includes $23.25 per WBD share in cash and $4.50 in Netflix stock, plus a stake in the company’s Discovery Global unit pending separation from the company.
The deal sparked a wave of criticism, in addition to the reaction of rival Paramount, which launched a hostile takeover bid on December 8 for $108.4 billion in exchange for its film and television studios and an extensive library of content that includes titles such as ‘Harry Potter’ and ‘Game of Thrones’.
After evaluating offers from Paramount, Comcast and Netflix, WBD’s board of directors opted to close a deal with Netflix, reported Agencia EFE.
Find out more at ‘QueOnnda.com’.
