Jared Kushner is officially disengaging from Paramount’s ambitious attempt to acquire Warner Bros. Discovery, marking a significant shift in the financial landscape surrounding one of the largest proposed media mergers in recent years. Affinity Partners—a Florida-based private equity enterprise established by Kushner, who is both a prominent investor and the son-in-law of former U.S. President Donald Trump—has decided to withdraw from participation in the mega-deal. According to an individual closely familiar with the negotiations who spoke to Business Insider, Affinity Partners had initially been expected to contribute around $200 million toward Paramount’s staggering $108 billion bid for Warner Bros. Discovery. Though the planned contribution represented a relatively modest fraction of the total financial commitment, its symbolic and strategic significance carried notable weight in the broader investment consortium.
In a statement distributed to various press outlets, an official spokesperson for Affinity Partners confirmed that the firm would no longer be involved in the financing process. The spokesperson explained that the conditions surrounding the deal had evolved markedly since the firm first expressed interest in October. They acknowledged that the shifting market dynamics and internal recalculations had altered the rationale for continued involvement, even while reaffirming their belief that Paramount’s bid remains rooted in a sound and compelling strategic vision. Despite multiple follow-up inquiries from Business Insider, Affinity declined to offer additional comments or clarifications on its change of course.
Affinity Partners, along with Kushner himself, had been prominently listed as a financial collaborator in Paramount’s detailed 367-page filing with the U.S. Securities and Exchange Commission (SEC) on December 8, an official document that formalized Paramount’s proposal to acquire Warner Bros. Discovery. The filing also identified a range of other external financial backers, including sovereign wealth funds hailing from Saudi Arabia, Qatar, and Abu Dhabi, highlighting the global dimension and geopolitical interest surrounding the proposed consolidation of two major entertainment conglomerates.
Donald Trump’s proximity to the deal continues to cast a conspicuous shadow. As Paramount pursued its takeover plans, Trump publicly indicated potential involvement or at least a vested interest in the outcome. His longstanding relationship with Oracle co-founder and billionaire Larry Ellison—whose son, David Ellison, currently serves as Paramount’s CEO and spearheads the acquisition effort—underscores the web of personal and professional connections intertwining political, corporate, and media power. Trump, who in separate remarks has praised Netflix and its co-CEO Ted Sarandos, nonetheless warned that a merger between Netflix and Warner Bros. Discovery could pose regulatory and market concentration challenges, citing the possible implications of such a massive combination.
Kushner’s withdrawal represents yet another escalation in the broader contest among dominant media players—Paramount Skydance, Netflix, and Warner Bros. Discovery—each vying for supremacy in a rapidly changing entertainment ecosystem defined by streaming competition and consolidation. Earlier in December, on the 5th, Netflix stunned industry observers by announcing its own agreement to purchase Warner Bros. Discovery for an equity valuation of approximately $72 billion, effectively outbidding rivals including Paramount and Comcast. In a swift and strategic counteraction, Paramount launched a hostile takeover attempt just days later, offering $30 per share to acquire all outstanding Warner Bros. Discovery stock. CEO David Ellison implored WBD shareholders to reject Netflix’s overtures and instead lend their support to Paramount’s vision by tendering their shares.
Ellison reinforced his position through a strongly worded letter dated December 10, in which he accused Warner Bros. Discovery’s advisory team of conducting an inequitable and opaque evaluation process that favored Netflix’s proposal over Paramount’s. His statements implied that transparency and fair consideration had been compromised, emphasizing how the competitive environment surrounding major media mergers often intertwines financial rivalry with corporate diplomacy.
Market activity has reflected the turbulent environment surrounding these negotiations. Over the past week, Paramount’s share price has dipped by more than 5%, reflecting investor caution amid ongoing uncertainty. Yet, on a broader timescale, the company’s stock remains up approximately 32% since the start of the year, suggesting confidence in its longer-term prospects. Conversely, Warner Bros. Discovery’s valuation has surged by roughly 170% over the same period, underscoring the intense investor enthusiasm and speculation that continue to animate this high-stakes battle for influence and dominance across the global entertainment landscape.
Sourse: https://www.businessinsider.com/jared-kushner-affinity-stepping-away-paramount-warner-bros-bid-2025-12
