Jared Kushner's Firm Withdraws from Paramount's Hostile Bid for Warner Bros. Discovery Amidst Competing Offers
Jared Kushner's firm withdrew from Paramount's hostile bid for Warner Bros. Discovery, now backed by Gulf funds, competing with Netflix's offer and facing political oversight.
Overview
Jared Kushner's private equity firm, Affinity Partners, withdrew financial support from Paramount's hostile bid for Warner Bros. Discovery, removing a potential advantage for Trump administration approval.
Paramount's $30 per share bid for Warner Bros. Discovery bypasses management, appealing directly to shareholders, and is still backed by three Persian Gulf government wealth funds.
Netflix reportedly agreed to acquire a portion of Warner Bros. Discovery for $82.7 billion, offering $27.75 per share, encompassing key assets like HBO Max and WB Studios.
Mr. Trump plans involvement in the government approval process for any Warner Bros. Discovery deal, with Paramount suggesting its offer may fare better under his administration.
Experts believe the acquisition of Warner Bros. Discovery, a major studio owning HBO and DC Comics, will significantly impact the winner and alter the streaming wars landscape.
Analysis
Center-leaning sources cover this story neutrally, presenting a balanced account of Warner Bros' reported rejection of Paramount's bid. They detail financial aspects, regulatory concerns, and industry reactions, including criticism from the Writers Guild of America, without adopting a particular stance or using loaded language, focusing on factual reporting.
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FAQ
Affinity Partners said the deal dynamics changed significantly since it became involved in October, so it decided not to pursue the opportunity while still calling Paramount's strategic rationale strong.
Paramount offered $30 per share in an all-cash bid that would buy Warner's entire portfolio, while Netflix agreed to acquire parts of Warner for $27.75 per share (reported $82.7 billion) focusing on key assets like HBO Max and Warner Bros. studios.
Paramount's bid was backed by three Persian Gulf sovereign wealth funds alongside private backers; Affinity's exit removed one private-equity financing element but the Gulf funds remained committed to supporting Paramount's $30-per-share offer.
President Trump signaled he would be involved in reviewing government approval for any deal; Paramount suggested its offer might fare better under his administration, meaning political influence could affect regulatory review and approval timing.
Experts say acquiring Warner — owner of HBO, DC Comics and major studios — would materially boost the winner's content library and distribution scale, potentially altering competitive positions in the streaming wars.
History
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