Jared Kushner pulls out of Paramount’s hostile bid for Warner Bros. Discovery
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Jared Kushner looks on during a meeting with Ukrainian officials Sunday, Nov. 30, 2025, in Hallandale Beach, Fla. Photo by Terry Renna /APArticle contentA private equity firm owned by President Donald Trump’s son-in-law, Jared Kushner, is no longer backing Paramount’s hostile acquisition bid for Warner Bros. Discovery, the firm confirmed Tuesday.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentDays after Warner agreed to be bought by Netflix in early December, Paramount launched a rival bid that seeks to bypass Warner’s management and appeal directly to its shareholders with more money. Paramount is offering $30 per Warner share to Netflix’s $27.75.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentArticle contentWarner, one of the “big five” Hollywood studios, owns Warner Bros. Pictures, HBO, the DC Comics universe and the Harry Potter franchise. Experts say its acquisition could supercharge the winning company and reshape the streaming wars, either by catapulting Netflix further ahead of top competitors or by cementing a new power player in Paramount.Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentParamount, which is significantly smaller than Netflix, said its decision to circumvent Warner’s top managers came after they “never engaged meaningfully” with several earlier offers by the company.Article contentParamount made the details of its new offer public and gave Warner shareholders an option to tender their shares — selling them directly at a set price — in support of its bid. The company is offering to buy Warner’s entire portfolio, including cable networks like CNN that Netflix excluded from its bid.Article contentIn its appeal to shareholders, Paramount argued its offer may be more likely to pass regulatory scrutiny from the Trump administration.Article contentThe president has said the Warner and Netflix deal “could be a problem” due to the size of the combined market share.Article contentArticle contentKushner’s decision to pull his firm’s financial backing takes away a possible Paramount advantage to win over Trump. The amount Kushner’s Affinity Partners was contributing to the offer was not disclosed in Paramount’s latest SEC filings.Article content“With two strong competitors vying to secure the future of this unique American asset, Affinity has decided no longer to pursue the opportunity,” the firm said in a statement. “The dynamics of the investment have changed significantly since we initially became involved in October. We continue to believe there is a strong strategic rationale for Paramount’s offer.”Article contentParamount’s bid is still backed by wealth funds run by three governments in the Persian Gulf, widely reported as Saudi Arabia, Abu Dhabi and Qatar.Article contentParamount, which owns which owns CBS, MTV and the streaming service Paramount+, is newly headed by David Ellison, the son of a major Trump donor. But Trump has recently criticized the Ellisons for his treatment by CBS News’ “60 Minutes.”Article content“If they are friends, I’d hate to see my enemies!” Trump said Tuesday on Truth Social.Article contentWarner is reviewing Paramount’s offer and is expected to tell shareholders soon whether it’s a better deal than selling to Netflix.Article contentTrending The Federal Reserve’s rate cut was a clear signal to investors Investor Expect 'dramatically higher' oil prices in 2026, says Eric Nuttall Oil & Gas Garry Marr: How raiding your TFSA before the end of year could save you thousands Personal Finance Bank of Canada wants to make stablecoins 'good money,' Macklem says Finance Bank of Canada expected to hold interest rate steady through 2026 as inflation cools Economy Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information.
The Federal Reserve’s rate cut was a clear signal to investors Investor Expect 'dramatically higher' oil prices in 2026, says Eric Nuttall Oil & Gas Garry Marr: How raiding your TFSA before the end of year could save you thousands Personal Finance Bank of Canada wants to make stablecoins 'good money,' Macklem says Finance Bank of Canada expected to hold interest rate steady through 2026 as inflation cools Economy