Jared Kushner's Affinity Partners backs out of Paramount Skydance's hostile bid for Warner Bros. Discovery

TL;DR

Affinity Partners has dropped out of Paramount Skydance's $108.4 billion bid for Warner Bros. Discovery.
The firm cited changing investment dynamics and competing bidders as reasons for withdrawal.
Concerns were raised by Democratic lawmakers about foreign money in U.S. media companies due to Affinity's connection to Jared Kushner and Mr. Trump.
Netflix had previously agreed to buy a part of Warner Bros. Discovery for $82.7 billion.
Paramount Skydance's bid includes financing from Saudi Arabia's Public Investment Fund and Qatar Investment Authority.
The outside investment firms involved in Paramount Skydance's bid agreed to give up governance rights.
President Trump indicated he would be involved in the government approval process for such deals.
Netflix's deal is expected to close after Warner Bros. Discovery spins off its cable television networks division.

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