Jared Kushner’s firm pulls out of bid for Warner Bros. Discovery

Jared Kushner’s private equity firm, Affinity Partners, is no longer participating in a bid to acquire Warner Bros. Discovery, a spokesperson for the firm said Tuesday.

Affinity Partners emerged as a small investor in Paramount’s roughly $108 billion offer, which Warner Bros. Discovery has rejected in favor of a deal with Netflix. Paramount has now taken its offer to shareholders and is awaiting an official response from Warner Bros. Discovery.