A variety of factors contributed to Netflix’s decision to withdraw from the competitive bidding for Warner Bros. Discovery, and one notable reason might involve Susan Rice.

Susan Rice, who previously served as a national security adviser under the Obama administration and is a current Netflix board member, recently made headlines, albeit not for the best reasons.

Amidst the Trump administration’s Department of Justice evaluating the antitrust implications of the deal, Rice appeared on a podcast hosted by Preet Bharara. Bharara, a former US Attorney for the Southern District of New York and a known critic of President Trump, provided a platform for Rice’s commentary.

During the podcast, Rice cautioned that companies that comply with the Trump administration’s demands should anticipate being “held accountable” if Democrats regain power.

“If these corporations think that Democrats, when back in power, will simply overlook their actions—such as firing people, violating policies and principles, or skirting laws—they are mistaken,” Rice stated emphatically.

Upon learning of Rice’s comments, President Trump did not conceal his displeasure. He took to Truth Social to express his discontent, suggesting that “Netflix should fire Susan Rice, who is racist and afflicted by Trump Derangement Syndrome, IMMEDIATELY, or face consequences,” he posted on Saturday.

The timing was particularly bad because the DOJ was cranking up its inquiry into Netflix’s then nearly completed, $73 billion purchase of WBD’s studio and streamer, including whether its purchase of HBO Max layered on its own streaming service constituted a monopoly that could hurt consumers.

The regulatory heat had become so great that Netflix CEO Ted Sarandos launched a charm offensive with his team of lobbyists that the streaming giant wasn’t looking to price gouge. Sarandos himself showed up at the White House to press the flesh and meet with Trump AG Pam Bondi and members of the DOJ’s antitrust staff amid the backdrop of Rice’s threat.

 A few hours after the meeting ended later, Netflix pulled itself out of the bidding war, handing the company to Paramount Skydance, which recently increased its bid to $80.5 billion. In announcing the move, Sarandos citied the ever growing price of the deal.

My sources say the DOJ indicated to Sarandos it had antitrust concerns about the WBD deal despite his argument that competition from YouTube negates them.

But Rice’s remarks didn’t make Sarandos’ job any easier, I am told by people close to the administration. One senior Trump regulatory official even quipped with a laugh that Sarandos should have “let Susan Rice tag along” to his DOJ sitdown.

A Netflix rep said Sarandos’ meeting was unrelated to Rice and set up two weeks ago. Rice could not be reached for comment