Gail Slater’s Departure Indicates Traditional Conservatives’ Influence in MAGA Movement
Gail Slater has been removed from her role as the head of the Justice Department’s antitrust division, an action that some see as a sign that traditional conservatives within the Republican Party still hold sway in the current MAGA landscape.
It’s been quite the journey.
Since Slater took office 11 months ago, she and her team have occasionally adopted a more populist stance on antitrust matters involving mergers and acquisitions, putting them at odds with not just the business sector, but key pro-business figures within Trump’s inner circle, according to insiders.
One notable figure in this conflict was Kevin Hassett, a senior economic advisor to President Trump and a candidate for Fed chairman. Hassett has championed Trump’s economic initiatives, which primarily emphasize deregulation as a means to stimulate growth.
Yet, critics of Slater argue that deregulation wasn’t really the primary focus for the antitrust division. A merger attorney, preferring to remain anonymous, mentioned that major deals, like Netflix’s proposed $72 billion acquisition of Warner Bros. Discovery, would face the same level of scrutiny as much smaller deals.
“Even the smallest transaction demanded extensive paperwork, which was incredibly time-consuming and, in my opinion, unnecessary,” the attorney pointed out. “Slater would insist that ‘we have a process,’ but it was arguably worse than what we experienced under the Obama-Biden administration,” who were seen as not particularly favorable to deals.
Another contentious issue for Slater was the Justice Department’s case regarding the merger between Hewlett-Packard and Juniper Networks. It seems that her more populist handling of the settlement terms led to her being sidelined within the administration. Following the aftermath, one of her colleagues was let go, and in a subsequent speech, Slater criticized “MAGA nominal lobbyists and Justice Department officials.”
Taking on Slater’s role was undoubtedly challenging. The MAGA populism often clashes with traditional Republican free-market ideals. President Trump encapsulates this contradiction: pushing for tax cuts and deregulation while also advocating populist measures like tariffs that favor American goods over imports.
Furthermore, significant antitrust issues have loomed large under Trump’s administration. He has pledged that his antitrust division will play a crucial role in determining the approval of Warner Bros. Discovery’s sale to either Netflix or competing bidder Paramount Skydance.
Throughout the turmoil, there were persistent whispers that Slater might resign. Having been a senior advisor to Vice President J.D. Vance, she managed to stay in her post despite ongoing criticisms. However, support for her began to dwindle, particularly from key figures like Attorney General Pam Bondi and Acting Attorney General Todd Blanche, insiders shared.
When her second-in-command, Mark Hammer, departed the Justice Department this week, speculation intensified that Slater would follow suit. On Thursday, she announced her resignation via a post on X, stating, “It is with great sadness and continued hope that I leave my position at AAG Antitrust today. It has truly been the honor of a lifetime to serve in this role.”
However, she didn’t specify why she was stepping down after less than a year. The White House shifted inquiries to the Justice Department, which provided no immediate comment.
According to sources, Assistant Attorney General Omeed Assefi will temporarily oversee the antitrust division until a permanent leader is chosen, with Blanche playing a vital role in maintaining stability during this transition.
As news of Slater’s exit circulated in Washington, D.C., Wall Street traders, along with various arbitration experts, began reaching out to legal teams and administration officials to gauge the potential impact on transactions managed by the department.
Among these transactions is Netflix’s acquisition of Warner Bros. Discovery, which raises significant antitrust issues due to the consolidation of the number one and number three streaming services. Netflix is under intense scrutiny as it has been labeled a potential monopolist (the streaming giant maintains it was not made aware of any broader investigations related to its deal). Simultaneously, Paramount Skydance is challenging the acquisition, seeking to merge the two substantial studios.
“It’s difficult to predict what this means for that deal or any others,” remarked one merger attorney. “What we do know is that Trump ultimately usually has the final say on major corporate matters.”
