Jared Kushner’s Affinity Partners withdraws from Warner Bros. Takeover Battle: Report – Netflix (NASDAQ:NFLX), Paramount Skydance (NASDAQ:PSKY)

Donald Trump’s son-in-law, Jared Kushner’s private equity firm, Affinity Partnersreportedly leaves the fight to acquire Warner Bros. Discovery (NASDAQ:WBD).

Affinity Partners leaves the Paramount-backed bid

Earlier this month, Paramount Skydance Corp (NASDAQ:PSKY) launched a $108 billion hostile bid for Warner Bros. Discovery. They leveraged the backing of Affinity Partners and Middle Eastern sovereign wealth funds.

Now, however, Affinity Partners has decided to withdraw its support. reported Bloomberg Tuesday, citing an Affinity spokesperson who said they still think Paramount has a strong case.

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Paramount has acquired Warner Bros. valued at approximately $108.4 billion, including debt. The company is trying to block Netflix Inc (NASDAQ:NFLX) $82.7 billion merger deal with Warner Bros.

Meanwhile, Warner Bros.’ The board has reportedly decided to urge shareholders to reject Paramount’s offer.

According to Benzinga’s Edge Stock RankingsWBD shows a strong price trend over the short, medium and long term. Find more performance insights here.

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