Updated Dec 8, 2025 - Business

Jared Kushner is part of Paramount's hostile bid for Warner Bros. Discovery

Dan Primack

Jared Kushner in 2023 — Jared Kushner. Photo: Marco Bello/Bloomberg via Getty Images

Affinity Partners, the private equity firm led by Jared Kushner, is part of Paramount's hostile takeover bid for Warner Bros Discovery, according to a regulatory filing.

Why it matters: Paramount is telling WBD shareholders that it has a smoother path to regulatory approval than does Netflix, and Kushner's involvement only strengthens that case.

Paramount is led by David Ellison, whose billionaire father Larry is a major supporter of President Trump.

Zoom in: Affinity Partners was not mentioned in Paramount's press release on Monday morning about its $108 billion bid, nor were participating sovereign wealth funds from Saudi Arabia, Abu Dhabi and Qatar.

Per the tender offer, each of those parties "have agreed to forgo any governance rights – including board representation – associated with their non-voting equity investments."
Each of them also was part of Paramount's original WBD bid on Dec. 1, although fellow partner Tencent subsequently left the group.

The bottom line: WBD could be the second major takeover Kushner has been involved in this year, having previously played a key role in the take-private agreement for gaming giant Electronic Arts.

This is breaking news.

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Jared Kushner is part of Paramount's hostile bid for Warner Bros. Discovery

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