On Sunday, Sen. Elizabeth Warren (D-Mass.) said President Donald Trump's financial ties to major media companies raise fresh ethics concerns as he weighs in on a high-profile merger that requires federal approval.

Warren Raises Conflict-of-Interest Concerns

Warren criticized Trump's involvement in merger decisions after a financial disclosure showed the president bought more than $1 million in investments tied to Netflix Inc. (NASDAQ:NFLX) and Warner Bros. Discovery (NASDAQ:WBD) shortly after the companies announced a major deal.

"Just another reason why the President of the United States must not be ‘involved' in decisions about approving megamergers," Warren wrote on X. "Any review needs to be based on the law and facts — not Donald Trump's political opinions and personal investments."

Financial Disclosure Fuels Ethics Debate

The disclosure, filed with the Office of Government Ethics, lists 191 financial transactions between Nov. 14 and Dec. 19.

It includes purchases and sales of stocks and bonds, with some transactions valued broadly between $1 million and $5 million, making precise totals unclear.

Trump bought at least $51 million in debt securities between mid-November and late December.

A White House official, speaking on condition of anonymity, told the Washington Post that Trump does not personally direct his portfolio.

Trump Weighs In On Netflix Deal

Previously, Trump has publicly commented on Netflix's proposed acquisition of Warner Bros. Discovery, saying he would be involved in the decision.

Trump has also amplified criticism of Netflix's market power, reposting an opinion column warning the deal could create an unprecedented "cultural gatekeeper."

Any merger would require federal regulatory approval, placing Trump's comments and financial disclosures under scrutiny.

A rival bidder, Paramount Skydance (NASDAQ:PSKY)— led by David Ellison, son of Trump ally and Oracle Corp (NYSE:ORCL) CTO Larry Ellison — has also entered the fray, further complicating the political optics.

Netflix is reportedly preparing to revise its $82.7 billion bid for Warner Bros. Discovery into an all-cash offer as it moves to counter a hostile bid from Paramount Skydance.

Warner Bros. Discovery, owner of HBO, has twice rejected Paramount's bid.

Netflix Q4 Earnings To Highlight Warner Bros. Acquisition Strategy

Netflix's bid for Warner Bros. will most likely draw scrutiny as it reports fourth-quarter earnings Tuesday.

The company is expected to post revenue of $11.96 billion, slightly below the $11.97 billion consensus, with earnings in line at 55 cents per share, a Wedbush analyst said.

Price Action: Netflix shares are down 1.88% in the past five days, according to Benzinga Pro.Netflix shows a negative price trend across short, medium and long-term time frames, with weak Momentum and Value scores, according toBenzinga Edge rankings.

Photo Courtesy: David Garcia on Shutterstock.com

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.