Trump Threatens Netflix With "Consequences" Over Board Member's Loyalty Comments
President Donald Trump called on Netflix to fire board member Susan Rice on Saturday, threatening the streaming company with unspecified "consequences" after the former Obama administration official said Democrats would hold corporations accountable for bending to Trump's demands for loyalty.
The public threat against a major entertainment company marks the latest escalation in tensions between the White House and corporate America over political positioning, raising immediate questions for finance chiefs about the regulatory and reputational risks of board composition decisions. Netflix, currently engaged in a bidding war with Paramount Skydance to acquire Warner Bros Discovery, now faces a political calculation with potential business implications.
Rice, who served as national security adviser and United Nations ambassador under President Barack Obama and also held a role in the Biden White House, made the comments on a podcast. She argued that corporations, news organizations, and law firms that complied with Trump's loyalty demands now recognize those actions were unpopular. "They're going to be held accountable" if Democrats return to power, she said, adding, "If they think Democrats are going to play by the old rules, they've got another thing coming."
The remarks prompted Trump's social media post demanding her removal from Netflix's board, which she rejoined in 2023 after leaving the Biden administration. Trump did not elaborate on what specific consequences the company might face, though he has previously criticized media companies for content decisions. Federal Communications Commission Chairman Brendan Carr has threatened broadcast networks' licenses in recent months, though Netflix as a streaming service does not operate under FCC broadcast regulations.
Netflix did not immediately respond to requests for comment on Saturday.
The confrontation presents a case study in the political risk calculations now facing corporate boards. Rice's board seat—a standard post-government appointment for a former national security official—has become a political flashpoint precisely because she articulated what many Democrats privately believe: that corporate acquiescence to political pressure will be remembered.
For CFOs and corporate strategists, the incident underscores an uncomfortable reality of the current environment. Board composition, once primarily a matter of expertise and governance, now carries explicit political risk from both parties. A director appointed for policy experience or regulatory knowledge can become a liability if their public statements draw executive branch attention.
The timing is particularly notable given Netflix's active pursuit of Warner Bros Discovery. Major M&A transactions require various regulatory approvals and informal clearances, creating potential pressure points for an administration seeking leverage. Whether Trump's threat represents genuine regulatory intent or political theater, the uncertainty itself creates complexity for deal execution and corporate planning.
What remains unclear is whether this represents a one-off response to Rice's specific comments or a broader signal about the administration's willingness to use regulatory authority as a tool for political disputes with corporate boards. That ambiguity may be the point—creating enough uncertainty to encourage self-censorship without requiring actual enforcement action.
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