Jared Kushner’s Firm Pulls Out of Bid for Warner Bros. Discovery
The New York Times••general
Key Points:
- Jared Kushner’s private equity firm, Affinity Partners, has withdrawn from the bid to acquire Warner Bros. Discovery, citing changed investment dynamics since their initial involvement in October.
- Affinity Partners was a small investor in Paramount’s $108 billion offer, which Warner Bros. Discovery has rejected in favor of a deal with Netflix.
- Paramount has taken its offer to shareholders and is awaiting an official response, with the majority of funding backed by a trust fund run by Larry Ellison, alongside contributions from Middle Eastern sovereign wealth funds.
- Kushner’s involvement drew scrutiny due to Warner Bros. Discovery’s ownership of CNN and his familial ties to former President Trump, who has criticized the network and indicated he would be involved in any regulatory
