Kushner-Linked Financing in Paramount's $108B Bid for Warner Bros Raises Conflict-Of-Interest Concerns

Jared Kushner's investment firm, Affinity Partners, is reported to be a financier in Paramount Skydance's hostile $108 billion bid for Warner Bros Discovery, injecting close Trump-family ties into one of the most consequential media takeover contests in years and prompting renewed ethics concerns.

Deal, Backers And White House Comments

Paramount Skydance on Monday launched a hostile offer to outbid Netflix and create a major media powerhouse. Paramount said its proposal includes financing from Affinity Partners, alongside capital from Saudi and Qatari sovereign wealth funds and L'imad Holding Co., an Abu Dhabi entity.

President Donald Trump told reporters he had not discussed the Warner Bros Discovery transaction with Kushner and said neither Netflix nor Paramount "are friends of mine." A day earlier, however, Trump had suggested he would be involved in decisions tied to Netflix's proposed acquisition of Warner Bros studios and streaming assets, a statement that ethics observers say raises questions.

Antitrust Review And Potential Influence

Both Paramount and Netflix can expect intense antitrust scrutiny. The Justice Department's antitrust unit is expected to review any final deal to determine whether a takeover would harm competition, raise consumer prices, or distort the advertising marketplace — giving the government significant influence over which bid can ultimately close.

Ethics Experts Voice Concern

"If you were teaching a class at business school on conflicts of interest, this would be Exhibit A," said Nell Minow, chair of ValueEdge Advisors, urging that the president recuse himself from any involvement in the deal-clearance process.

Legal and ethics observers note that while U.S. presidents are exempt from the federal conflict-of-interest statute, they typically avoid entanglement with family businesses to prevent public doubts. "Normally, what we see is presidents separating themselves from their own businesses," said Jordan Libowitz of Citizens for Responsibility and Ethics in Washington.

Background On Kushner And Affinity Partners

Kushner served as a White House adviser during Trump's first term and has continued to play a role in Middle East policy during the current administration, despite holding no official government title. Questions about whether Kushner has benefited from his father-in-law's presidency have been raised previously — including scrutiny after Affinity Partners received a substantial inflow of capital from Middle East investors last year as Trump sought reelection.

Observers also note earlier policy proposals by Trump this year — such as redeveloping the Gaza Strip as an international resort — echoed ideas associated with Kushner's prior work as a New York property developer, drawing further attention to potential overlaps between private interests and public policy.

What Critics Urge

Public interest groups say the "blurred line" between running government and family business interests is growing. Scott Amey, general counsel at the Project On Government Oversight, urged the president to avoid any statements or actions that could be seen as helping a son-in-law tied to a bidder. Trump's multi-billion-dollar real estate, golf, media and other business interests remain in a trust managed by his children — a structure critics say does not fully eliminate potential conflicts.

Reporting: Jody Godoy in New York; additional reporting by Michelle Price. Editing: Chris Sanders and Rod Nickel.