Kushner’s Affinity Withdraws From Warner Bros. Takeover Battle

<p>Watch Carol and Tim LIVE every day on YouTube: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>. <br /><br />Jared Kushner&rsquo;s Affinity Partners is exiting from the takeover battle for Warner Bros. Discovery Inc.<br />The private equity firm this month emerged as a participant in Paramount Skydance Corp.&rsquo;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.&rsquo;s agreed $82.7 billion deal for Warner Bros.<br />Affinity was helping to finance Paramount&rsquo;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.<br />Warner Bros. is planning to reject Paramount&rsquo;s offer due to concerns about financing and other terms, people familiar with the matter said Tuesday. Affinity&rsquo;s investment in the bid is about $200 million in equity, Bloomberg News has reported.<br /><br />Today's show features:</p> <ul> <li>Bloomberg News Media and Entertainment Editor Felix Gillette on the latest in the</li> <li>R.C. &ldquo;Chris&rdquo; Whalen, Chairman of Whalen Global Advisors, on the health of the banking sector and the crypto market outlook</li> <li>Julia Pollak, Chief Economist for the US Department of Labor, on the November nonfarm payrolls report</li> <li>Larry Pitkowsky, Co-Founder, Managing Partner, and Portfolio Manager of GoodHaven Capital Management</li> </ul><p>See <a href="https://omnystudio.com/listener">omnystudio.com/listener</a> for privacy information.</p>