Kushner role in bid for Warner Bros raises ethical questions, experts say

Jared Kushner’s financing role in Paramount’s $108 billion bid for Warner Bros Discovery injects Trump-family interests into one of the biggest media battles in years, raising concerns over whether the president’s influence could tip the scales.
Paramount Skydance (PSKY.O), opens new tab on Monday launched a hostile bid for Warner Bros Discovery (WBD.O), opens new tab in a last-ditch effort to outbid Netflix (NFLX.O), opens new tab and create a media powerhouse.

Jared Kushner looks on during a swearing-in ceremony of Special Envoy Steve Witkoff in the Oval Office at the White House in Washington, D.C., U.S., May 6, 2025. REUTERS/Kent Nishimura/File Photo Purchase Licensing Rights

Paramount said its offer includes financing from Kushner’s investment firm Affinity Partners, along with financing from the Saudi and Qatari sovereign wealth funds and L’imad Holding Co, owned by Abu Dhabi.
Trump told reporters on Monday that he has not spoken with Kushner about Warner Bros Discovery, adding that neither Netflix nor Paramount “are friends of mine.” A day earlier, Trump said he would be involved in a decision on Netflix’s proposed acquisition of Warner Bros studios and streaming assets.
SUITORS TO FACE ANTITRUST SCRUTINY
Both Paramount and Netflix are likely to face intense antitrust scrutiny to ensure consumers, rivals and suppliers are not hurt by any tie-up, giving the government a big say in who ultimately buys Warner Bros Discovery.

The extent of Trump’s involvement will be another test of how far the president – whose family business interests have grown while he has been in office this year – is prepared to go in breaking conflict-of-interest norms.
“If you were teaching a class at business school on conflicts of interest, this would be Exhibit A,” said Nell Minow, chair of Portland, Maine-based ValueEdge Advisors, adding Trump should recuse himself from any involvement in the deal clearance.
Spokespeople for the White House and for Affinity Partners did not immediately respond to requests for comment.

While U.S. presidents are exempt from the federal conflict of interest law, “normally, what we see is presidents separating themselves from their own businesses and going out of their way not to be involved with their family’s businesses to not have Americans questioning their actions,” said Jordan Libowitz of Citizens for Responsibility and Ethics in Washington.
The antitrust unit of the Justice Department will review the final deal for Warner Bros Discovery to ensure it does not harm competition in the media market, while keeping consumer prices in check and ensuring that advertisers have a fair marketplace.
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