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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.
Warner Bros. is planning to reject Paramount’s offer due to concerns about financing and other terms, people familiar with the matter said Tuesday. Affinity’s investment in the bid is about $200 million in equity, Bloomberg News has reported.
Today's show features:
- Bloomberg News Media and Entertainment Editor Felix Gillette on the latest in the
- R.C. “Chris” Whalen, Chairman of Whalen Global Advisors, on the health of the banking sector and the crypto market outlook
- Julia Pollak, Chief Economist for the US Department of Labor, on the November nonfarm payrolls report
- Larry Pitkowsky, Co-Founder, Managing Partner, and Portfolio Manager of GoodHaven Capital Management
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