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Former MP KC Tyagi quits JD(U)His exit comes amid shifting political currents within the JD(U) and its alliances, and is being viewed in political circles as an indication of possible churn within the party’s senior leadership Published on: Mar 17, 2026 6:01 PM IST By Sanjeev K Jha
Jared Kushner's firm pulls out of bid for Warner Bros. Discovery
Jared Kushner's Affinity Partners has withdrawn from the bid to acquire Warner Bros. Discovery, citing changed investment dynamics. The firm was a small investor in Paramount's rejected offer, which Warner Bros. Discovery favored over a Netflix deal. Affinity's departure is not expected to significantly impact Paramount's acquisition plans.
Jared Kushner's private equity firm, Affinity Partners, is no longer participating in a bid to acquire Warner Bros. Discovery, a spokesperson for the firm said Tuesday.
Affinity Partners emerged as a small investor in Paramount's roughly $108 billion offer, which Warner Bros. Discovery has rejected in favor of a deal with Netflix. Paramount has now taken its offer to shareholders and is awaiting an official response from Warner Bros. Discovery.
"With two strong competitors vying to secure the future of this unique American asset, Affinity has decided no longer to pursue the opportunity," the spokesperson for Affinity said in a statement.
"The dynamics of the investment have changed significantly since we initially became involved in October," the statement continued. "We continue to believe there is a strong strategic rationale for Paramount's offer." Bloomberg reported earlier that Affinity had dropped out of the bid.
Paramount submitted its first bid for Warner Bros. Discovery in mid-September. After its third bid, in mid-October, Warner Bros. Discovery put itself up for sale, saying it had received interest from multiple suitors. Paramount submitted three additional bids before Warner Bros. Discovery chose to sell a large part of its business to Netflix this month.
Kushner, who is President Donald Trump's son-in-law, started his private equity firm, which has raised billions from Saudi Arabia's sovereign wealth fund, after Trump's first term. The firm, which has roughly $5.4 billion under management, had been known primarily for taking small stakes in companies but has more recently become involved in large deals, like a roughly $55 billion acquisition of Electronic Arts.
Kushner's involvement in the deal attracted significant scrutiny in part because of Warner Bros. Discovery's ownership of CNN. Trump has long been critical of the network, and, if Paramount succeeded in buying Warner Bros. Discovery with Affinity's help, his son-in-law would have owned a piece of the news channel's parent company. In addition, Trump has said he would be "involved" in any regulatory review of the deal.
The withdrawal of Affinity Partners is not expected to have a significant financial impact on Paramount's deal for Warner Bros. Discovery. A revocable trust fund run by Larry Ellison, the billionaire father of Paramount's CEO, David Ellison, is backstopping the vast majority of the $40 billion equity check required for the deal, while also getting contributions from additional partners.
In Paramount's previous bids, sovereign wealth funds from the Middle East said they would contribute roughly $24 billion to the deal. Kushner's Affinity Partners was expected to invest a far smaller check, closer to $200 million, a person familiar with the matter said.Add as a Reliable and Trusted News Source Add Now!
Source: EconomicTimes
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