Trump threatens Netflix with ‘consequences’ over Rice board seat

Fortune

by Sam Kim, Bloomberg

February 22, 2026

AI-Generated Deep Dive Summary

Donald Trump has threatened Netflix with "consequences" unless the streaming giant removes Susan Rice from its board of directors. Rice, a prominent figure who served as national security adviser under Barack Obama and later in Joe Biden's administration, recently commented on a podcast that corporations, media outlets, and law firms aligning with Trump’s demands for loyalty may face accountability if Democrats regain power. Her remarks sparked Trump’s warning, which raises questions about the potential fallout for Netflix, especially given its high-profile bid to acquire Warner Bros. Discovery Inc., currently competing with Paramount Skydance Corp. Rice rejoined Netflix’s board in 2023 after leaving her role in the Biden administration. Her public criticism of corporate behavior during Trump’s presidency has drawn significant attention, as she suggested that such actions could be deemed unpopular in hindsight. While Trump did not specify what form these "consequences" might take, his past actions against media companies and threats to revoke broadcast licenses under the Federal Communications Commission (FCC) chairman Brendan Carr suggest a possible escalation. This adds a layer of uncertainty for Netflix, as it navigates both its business strategies and potential political risks. The situation highlights the growing tension between corporate decision-making and political optics, particularly in industries like media and entertainment. For businesses like Netflix, aligning with high-profile figures like Rice could impact their reputation or relationships with political stakeholders. Trump’s history of targeting companies he perceives as disloyal raises concerns about regulatory or reputational challenges for Netflix if it does not comply with his demand to remove Rice from the board. This story underscores the delicate balance corporations must strike when engaging with controversial figures, especially in politically charged environments. As Netflix continues its pursuit of Warner Bros. Discovery Inc., the optics of its board composition and public statements could influence investor confidence and stakeholder relations. The broader implications of Trump’s threat also reflect a larger trend of political polarization affecting businesses, where decisions can become entangled in partisan disputes. Ultimately, this incident serves as a cautionary

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Originally published on Fortune on 2/22/2026