Kushner's Affinity Partners exits Paramount bid for Warner Bros. Discovery

Jared Kushner’s firm Affinity Partners has dropped out of Paramount Skydance

’s hostile takeover bid for Warner Bros. Discovery

“With ​two ​strong competitors ​vying to secure ​the future ​of this ​unique American ​asset, ​Affinity ​has ​decided no longer to pursue ​the opportunity,” an Affinity spokesperson said in a statement.

“The dynamics ​of the investment have changed significantly ​since we initially became ​involved ​in October,” the spokesperson said. “We ​continue to ​believe ​there is a strong strategic rationale for Paramount’s offer.”

Kushner is the son-in-law of President Donald Trump.