Kushner Is Part of Paramount’s Hostile Bid for Warner

Jared Kushner’s private equity firm, Affinity Partners, has emerged as a significant player in Paramount’s hostile takeover attempt of Warner Bros. Discovery (WBD), according to a recent regulatory filing cited by Axios. The filing follows Paramount’s announcement of a $108 billion bid for WBD, led by David Ellison, whose father, Larry Ellison, is a prominent supporter of President Trump. The bid came just days after a separate deal for Netflix to acquire WBD was announced.

The filing reveals that Affinity Partners, along with sovereign wealth funds from Saudi Arabia, Abu Dhabi, and Qatar—who are helping finance the deal—were not mentioned in Paramount’s initial press release. These investors have agreed to forgo governance rights, including board seats, in connection with their non-voting equity stakes.

Kushner’s involvement in the bid could strengthen Paramount’s case to WBD shareholders that it faces fewer regulatory hurdles than Netflix. Ethics experts speaking to Reuters say his role raises questions about potential influence from President Trump, who has previously indicated he would oversee federal review of the Netflix-WBD deal and suggested that Netflix might become too large if approved. “If you were teaching a class at business school on conflicts of interest, this would be Exhibit A,” one expert noted. Presidential involvement in such approvals is rare.

The Associated Press reports that the bidding war could create a year or more of uncertainty for CNN, which is owned by WBD, until it becomes clear who will control the network. If Paramount prevails, David Ellison has said he plans to merge CBS News with CNN. The New York Times notes that President Trump has long been critical of CNN.

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