Trump bought Netflix and Warner Bros bonds at height of bidding war with Paramount

Source: Reuters Via Yahoo!Finance

WASHINGTON, March 9 (Reuters) - U.S. President Donald Trump bought more than $1.1 million of Netflix bonds over the last three months as the streaming giant unsuccessfully fought Paramount Skydance to buy Warner Bros Discovery, according to ‌government disclosures.

Trump bought more than $500,000 of Netflix's bonds in two transactions on December 12 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 million 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% and are due in November 2029, since the filing doesn't disclose if or when he sold ‌the bonds.

Read more: https://finance.yahoo.com/news/trump-bought-netflix-warner-bros-132120706.html