Kushner's Affinity Partners exits Paramount bid for Warner Bros. Discovery
Published Tue, Dec 16 2025
4:40 PM EST
Updated 7 Min Ago
Dan Mangan@_DanMangan
Eamon Javers@EamonJaversWATCH LIVEKey Points
- Affinity Partners dropped out of backing the hostile takeover bid by Paramount Skydance for Warner Bros. Discovery.
- Affinity is led by Jared Kushner, a former White House advisor and the son-in-law of President Donald Trump.
Jared Kushner, Founder & CEO, Affinity Partners, speaks during the second day of the FII PRIORITY Summit held at the Faena Hotel on Feb. 20, 2025 in Miami Beach, Florida.
Joe Raedle | Getty Images
Jared Kushner's firm Affinity Partners has dropped out of Paramount Skydance's hostile takeover bid for Warner Bros. Discovery.
"Withââtwoââstrong competitorsââvying to secureââthe futureââof thisââunique Americanââasset,ââAffinityââhasââdecided no longer to pursueââthe opportunity," an Affinity spokesperson said in a statement.
"The dynamicsââof the investment have changed significantlyââsince we initially becameââinvolvedââin October," the spokesperson said. "Weââcontinue toââbelieveââthere is a strong strategic rationale for Paramount's offer."
Kushner is the son-in-law of President Donald Trump.
The WB water tower is seen at Warner Bros. Studios in Burbank, California on Dec. 5, 2025.
Patrick T. Fallon | AFP | Getty Images
The monetary value of Affinity's role in Paramount's all-cash, $30-per share bid for all of WBD was not disclosed in a filing last week with the Securities and Exchange Commission.
However, that SEC filing said that in addition to commitments from Affinity and RedBird Capital Partners, there was a $1 billion commitment from Tencent, and an "aggregate $24 billion commitment from three sovereign wealth funds from" the Gulf states of Saudi Arabia, Qatar and Abu Dhabi.
CNBC has asked Affinity about the status of the Gulf states' commitment in light of Affinity's withdrawal from the bid.
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