Jared Kushner’s private equity firm no longer supports Paramount’s hostile bid for Warner Bros. Discovery. Paramount offers $30 per share, higher than Netflix’s $27.75 bid. Warner owns major properties like Warner Bros. Pictures, HBO, DC Comics, and Harry Potter, potentially reshaping the streaming wars.

Paramount accuses Warner of not engaging with previous offers, prompting a public bid. Paramount offers to buy Warner’s entire portfolio, including CNN. The offer may face less regulatory scrutiny under the Trump administration due to its structure.

Kushner’s firm withdraws financial backing from Paramount’s bid, impacting its chances with Trump. Affinity Partners’ contribution remains undisclosed. Paramount’s bid still has backing from wealth funds in Saudi Arabia, Abu Dhabi, and Qatar.

David Ellison leads Paramount, backed by government wealth funds from the Persian Gulf. Despite Trump’s ties to Kushner and Ellison, he has criticized the Ellisons for their treatment by CBS. The dynamics of the deal have changed since Affinity’s involvement in October.

Read more at Yahoo Finance: Jared Kushner pulls out of Paramount’s hostile bid for Warner Bros. Discovery