Netflix Board Under Fire as Trump Demands Director's Ouster

President Trump just issued a corporate ultimatum that would make any CEO's blood run cold: Fire your board member "IMMEDIATELY" or "pay the consequences."

The target? Susan Rice, Netflix's veteran board director whom Trump labeled a "racist, Trump Deranged" political hack with "no talent or skills." The timing? Netflix is in the middle of an $82.7 billion merger with Warner Bros. Discovery that needs regulatory approval.

This isn't just political theater. It's a masterclass in leverage.

When Politics Meets Deal Math

Susan Rice joined Netflix's board in March 2018, stepped away during her Biden White House stint, then returned in 2023. Her crime, in Trump's view? Appearing on a podcast to warn that corporations taking "a knee" to Trump will be "held accountable" when political winds shift.

But here's the kicker: Rice made those comments while Netflix is navigating the most complex media merger in years. Warner Bros. shareholders vote March 20 on the Netflix deal, while Skydance Media — led by David Ellison, son of Trump supporter Larry Ellison — is bidding $108.4 billion for the entire Paramount Global instead.

One media company faces presidential pressure. Another is run by a family that doesn't need to wonder how this White House operates.

The "Market Share" Warning Shot

Trump already telegraphed his concerns about the Netflix-Warner combination, calling Netflix "a great company" before adding the ominous caveat: "It's a lot of market share, so we'll have to see what happens."

Translation: Antitrust scrutiny is coming.

Netflix co-CEO Ted Sarandos is trying to keep this in the corporate lane, insisting "This is a business deal. It's not a political deal." When asked about Trump's demand, he shrugged it off: "He likes to do a lot of things on social media."

But everyone in the room knows the subtext. Warner Bros. has given Paramount until Monday, February 23 to submit a "best and final" offer that Netflix can match under their merger agreement. In that high-stakes environment, "pay the consequences" doesn't need a footnote.

The New Rules of Corporate Governance

Removing a board director typically requires board or shareholder action — not presidential tweets. But Trump's demand exposes how regulatory approval processes can become political weapons. When the president is talking about your board composition, he's also talking about your permissions.

The irony is rich: A streaming platform that revolutionized entertainment by cutting out gatekeepers now faces the ultimate gatekeeper deciding whether its biggest deal moves forward.

Skydance, meanwhile, benefits from having a CEO whose father hosted Trump fundraisers and publicly backed his campaign. In the new Washington, those connections aren't just nice-to-have — they're competitive advantages.

What happens when political loyalty becomes a business strategy?