A sudden shift in the high‑stakes battle over Warner Bros. Discovery has seen Jared Kushner’s private‑equity arm, Affinity Partners, abandon its support for Paramount Skydance’s hostile takeover.
The Exit
Affinity Partners, led by President Donald Trump’s son‑in‑law, announced it would no longer pursue the opportunity to back Paramount Skydance’s bid for Warner Bros. Discovery. The decision was disclosed in a statement to NBC News.
The Statement
“With two strong competitors vying to secure the future of this unique American asset, Affinity has decided no longer to pursue the opportunity,” a spokesperson for the company said. The quote was delivered in a formal press release.
Changing Dynamics
The spokesperson added that “the dynamics of the investment have changed significantly since we initially became involved in October.” They further noted, “We continue to believe there is a strong strategic rationale for Paramount’s offer.”
Paramount’s Bid
On December 8, Paramount Skydance CEO David Ellison unveiled an unsolicited takeover offer valued at more than $108 billion for all of Warner Bros. Discovery’s assets. The offer was aimed at acquiring the entire company rather than selective parts.
Funding Partners
The bid had previously counted on financial commitments from several major investors, including Affinity Partners, Saudi Arabia’s Public Investment Fund, the Qatar Investment Authority, and a large Abu Dhabi‑based fund. Kushner’s withdrawal leaves a gap in the consortium.
Warner Bros. Response
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Reports surfaced that Warner Bros. Discovery was preparing to reject Paramount’s bid as early as Wednesday. The company’s stance was not confirmed by a spokesperson, but the timing suggests a swift response.
Trump’s Reaction
Earlier that Tuesday, former President Trump posted on Truth Social expressing his displeasure with David Ellison. He wrote, “For those people that think I am close with the new owners of CBS, please understand that 60 Minutes has treated me far worse since the so‑called ‘takeover,’ than they have ever treated me before.” He added, “If they are friends, I’d hate to see my enemies!”
Regulatory Hurdles
Any merger between Warner Bros. Discovery and Paramount Skydance would need clearance from the Justice Department’s antitrust division and the Federal Trade Commission. The regulatory review process is expected to scrutinize market concentration and consumer impact.
Netflix Deal
Just days before Paramount’s offer, Netflix and Warner Bros. Discovery announced a separate transaction. Under that deal, Netflix would acquire the most valuable portions of Warner Bros., including the HBO Max streaming service, the HBO network, and Warner Bros. film studios.
Netflix’s Reach
Netflix, which began as a DVD‑by‑mail company, has grown into a global streaming giant. It now serves more than half a billion subscribers across 190 countries in 50 languages, positioning it as a formidable competitor in the entertainment sector.
The Broader Picture
The unfolding events underscore the intense competition among media conglomerates for dominance in a rapidly evolving digital landscape. The withdrawal of Affinity Partners may alter the balance of power in the ongoing takeover race.
No Immediate Comments
Neither Paramount Skydance, Warner Bros. Discovery, nor Netflix responded to requests for comment at the time of writing. The lack of statements leaves many details uncertain.
Key Takeaways
- Affinity Partners has exited the consortium backing Paramount Skydance’s $108 billion bid for Warner Bros. Discovery.
- Paramount’s offer targets the entire company, while Netflix is pursuing a separate acquisition of Warner’s most valuable assets.
- Any merger will require approval from U.S. antitrust regulators, adding uncertainty to the process.
Closing
The decision by Affinity Partners marks a pivotal moment in the high‑stakes battle for Warner Bros. Discovery. As the situation develops, stakeholders will closely monitor regulatory reviews, investor reactions, and the strategic moves of competing media giants.
Hi, I’m Cameron R. Hayes, the journalist, editor, and creator behind NewsOfFortWorth.com. I built this platform with a simple purpose — to deliver fast, clear, and trustworthy news that keeps Fort Worth informed and connected.
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