Washington [US], March 10: US President Donald Trump bought more than $1.1 mn of Netflix bonds over the last three months as the streaming giant unsuccessfully fought Paramount Skydanceopens new tab to buy Warner Bros Discoveryopens new tab, according to government disclosures.
Trump bought more than $500,000 of Netflix's bonds in two transactions on December and December 16 and another more than $600,000 across two more trades on January 2 and 20, the disclosures show. The White House disclosed a range, rather than exact amounts, of between just over $1.1 mn and $2.25 million.
The purchases came as the Republican president and his regulatory officials talked Netflix down in the press, calling into question whether the deal would withstand antitrust scrutiny and pressuring Netflix to fire board member Susan Rice, a onetime aide to Democratic former President Barack Obama. It's unclear whether he made or lost money on Netflix's bonds, which paid an interest rate of 5.375 percent and are due in November 2029, since the filing doesn't disclose if or when he sold the bonds.
Source: Qatar Tribune