US EditionJared Kushner Pulls Out of Paramount’s Hostile Bid for Warner Bros. Discovery
Affinity Partners withdrew from Paramount's $108.4 billion bid amid political scrutiny and competition from multiple bidders, including a deal with Netflix under review by the Warner Bros. Discovery board.
- On Tuesday, Affinity Partners, the private equity firm founded by Jared Kushner, said it will no longer back Paramount's hostile takeover bid for Warner Bros. Discovery, citing a change in investment dynamics.
- Just hours after President Donald Trump aired grievances about CBS, Affinity cited competition from Netflix and shifting investment dynamics while Capitol Hill Democrats raised concerns over Jared Kushner's role.
- The WBD board is currently weighing Paramount's offer, valued at $108.4 billion and backed by the Ellison family and RedBird Capital, against Netflix's deal.
- Kushner's roughly $200 million equity commitment functioned as a political signal, and President Donald Trump said he would be involved in reviewing any Warner transaction.
- Now, reports say Warner plans to reject Paramount's bid over financing concerns, while industry experts warn the acquisition could reshape the streaming wars.
24 Articles
24 Articles
According to a spokesman, Jared Kushner's investment company does not want to give money to Paramount. The company competes with Netflix for the takeover of Warner.
Paramount wants to take over the competitor Warner Brothers including CNN - and also finance it with money from the Trump family. Not only on Wall Street you can see this critically. Now there is a surprising turnaround.
Jared Kushner's firm gives up controversial bid to buy Warner Bros. Discovery: report
A private equity firm backed by President Donald Trump's son-in-law, Jared Kushner, dropped its controversial bid to buy Warner Bros. Discovery on Tuesday, according to a new report. Axios reported on Tuesday that Kushner's Affinity Partners withdrew its bid for the company after learning that it was about to reject Paramount's offer to buy the company for more than $108 billion, or roughly $30 per share in an all-cash offer. Paramount's first b…
Coverage Details
Bias Distribution
- 52% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
