Kushner’s Affinity withdraws from Warner Bros. takeover battle

Jared Kushner’s Affinity Partners is exiting from the takeover battle for Warner Bros. Discovery Inc. 

The private equity firm this month emerged as a participant in Paramount Skydance Corp.’s hostile bid for Warner Bros., which valued the media and entertainment company at $108.4 billion including debt. Paramount is seeking to scupper Netflix Inc.’s agreed $82.7 billion deal for Warner Bros.

Affinity was helping to finance Paramount’s move. It now believes the dynamics ​of an investment have changed since it became involved in the process in October, a representative for the firm said.

“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. “We ​continue to ​believe ​there is a strong strategic rationale for Paramount’s offer.”

Warner Bros. is planning to  Read Entire Article