Kushner's private equity firm, Affinity Partners, is backing out of Paramount's $108 billion WBD bid.

Jared Kushner's Affinity Partners is exiting Paramount's $108 billion hostile bid for Warner Bros., as the studio's board plans to back Netflix's $82.7 billion deal instead.

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Affinity Partners had planned to back a bid by Paramount Skydance to acquire all the assets of media giant Warner Bros. Discovery.

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Dec 16 (Reuters) - Jared Kushner's investment firm Affinity Partners has withdrawn from the takeover battle for Warner Bros Discovery (WBD.O), opens new tab, Bloomberg News reported on Tuesday, citing ...