Affinity Partners Pulls Back from Warner Bros Discovery Takeover Amid Jared Kushner Scrutiny
On December 16, 2025, Affinity Partners reportedly withdrew from pursuing a takeover of Warner Bros Discovery (WBD) amid increased scrutiny surrounding Jared Kushner's involvement.
Affinity had been a key backer of Paramount Skydance's hostile bid valued at $108.4 billion for control of WBD. This bid aims to disrupt WBD's $82.7 billion deal to sell Warner Bros studios, the HBO network, and HBO Max to Netflix.
WBD has pledged to review Paramount's unsolicited offer and is expected to publicly respond and advise shareholders in the coming days.
A regulatory filing revealed that outside funders included Affinity Partners, Saudi Arabia's Public Investment Fund, and Qatar Investment Authority. Earlier press releases had named the Ellison family and RedBird Capital as backers.
Despite pulling back, Affinity told Bloomberg it still believes there is a strong strategic rationale for Paramount's offer.
Scrutiny of Kushner's involvement has intensified; former President Trump indicated he expects to be involved as regulators examine the deal, though he has sought to distance himself from Paramount and the Ellison-led backers.
Warner Bros Discovery's assets at the center of the bid include Warner Bros movie studios, CNN, Discovery Channel, and HBO/HBO Max.
