President Trump addressed the proposed Netflix purchase of Warner Bros. for the first time since news of the deal broke last week.

Trump was asked by reporters ahead of Sunday night’s Kennedy Center Honors in Washington D.C. what he thought of the proposed deal, which is valued at $82.7 billion.

He praised Ted Sarandos , co-CEO of Netflix alongside Greg Peters, and noted that Netflix will have “a lot of market share” if the deal goes through.

“Well, that’s gotta go through a process, and we’ll see what happens,” he said. “Netflix is a great company. They’ve done a phenomenal job. Ted is a fantastic man. I have a lot of respect for him. But it’s a lot of market share, so we’ll have to see what happens.”

President Trump addressed the proposed Netflix purchase of Warner Bros

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