WASHINGTON, March 9, 2026, 2:47 PM EDT
President Donald Trump picked up Netflix bonds valued somewhere between $1.1 million and $2.25 million, according to his latest financial disclosures, right as the streaming company was squaring off with Paramount Skydance over Warner Bros. Discovery. The documents don’t clarify if Trump has since offloaded those bonds.
Netflix is shifting focus back to its main business after pulling out of the Warner deal on Feb. 26. Co-CEOs Ted Sarandos and Greg Peters told investors Warner was “nice to have,” but not worth chasing at any cost. The company plans to restart buybacks and put roughly $20 billion into films and series this year. Netflix
The disclosure pulls Washington back into focus. Trump and some of his aides had cast doubt in public over whether regulators would green-light a Netflix-Warner deal, while the White House insisted the president’s assets are held in a trust overseen by his children and maintained there were “no conflicts of interest.” Trump remains exempt from the federal conflict-of-interest rules covering most executive-branch officials, as is standard for U.S. presidents. Reuters
Two Office of Government Ethics transaction reports detail a Netflix buy of $250,001 to $500,000 on Dec. 12, another for the same amount on Dec. 16, a third purchase—this time $500,001 to $1 million—on Jan. 2, and a fourth for $100,001 to $250,000 on Jan. 20, all in Netflix notes maturing 2029. Those reports also include Warner bond purchases.
LSEG data put Netflix notes at $1.03 to $1.04 on the dollar when Trump made his purchase, and they were still sitting at $1.03 as of last Friday. It’s not clear whether he turned a profit or took a loss—the filings don’t specify if he sold, or when.
Netflix shares slipped about 1.4% in Monday’s afternoon session, changing hands at $97.59. The move follows a strong rebound after the company pulled the plug on its Warner deal. Back on Feb. 27, the stock surged nearly 14% as investors backed management’s stance on holding the line, with Netflix revealing a $2.8 billion termination fee owed by Warner—money triggered by the deal’s collapse.
Some analysts see the reset, rather than the disclosure, as the main headline for the stock. Wedbush’s Alicia Reese called it “hard to look at this in any negative way.” Wells Fargo’s Steven Cahall described Warner as an opportunistic “Plan B,” noting Netflix’s return to “Plan A: invest for growth.” Bloomberg
Back in January, Netflix told investors it had topped 325 million paid subscribers. The company projected 2026 revenue between $50.7 billion and $51.7 billion, and said advertising revenue would double, reaching about $3 billion. Now, Netflix is betting that its ad-supported tier—the lower-priced plan with commercials—along with live events, will be enough to drive growth without needing to acquire another studio.
The filing underscores how politics doesn’t always stay out of media deals. Netflix’s attempt to nab Warner bumped right up against regulatory scrutiny, and if the streamer goes after bigger acquisitions or dives deeper into costly sports rights, expect more of the same. For now, Netflix is counting on organic investments, live shows, and its ad push to drive growth.
