'Corrupt': Trump's son-in-law sparks backlash with role in Warner Bros. Discovery takeover
On Sunday, President Donald Trump declared that he will “be involved” in the federal government’s decision on whether to allow the streaming service Netflix to buy mass media and entertainment conglomerate Warner Bros. Discovery. On Monday, Paramount Skydance, another mass media and entertainment conglomerate, announced a hostile takeover bid for WBD, with news soon following that Trump son-in-law Jared Kushner’s private equity firm is part of the Paramount offer.
“Paramount is telling WBD shareholders that it has a smoother path to regulatory approval than does Netflix, and Kushner’s involvement only strengthens that case,” Axios reported. “Paramount is led by David Ellison, whose billionaire father Larry is a major supporter of President Trump.”
Axios added that Kushner’s firm, Affinity Partners, “was not mentioned in Paramount’s press release on Monday morning about its $108 billion bid, nor were participating sovereign wealth funds from Saudi Arabia, Abu Dhabi and Qatar.”
Fortune reported that “Affinity and the other outside financing partners have agreed to forgo any governance rights, which Paramount said means the Committee on Foreign Investment in the United States would have no jurisdiction over the transaction.”
But Axios’ Sarah Fischer wrote on social media: “Ask yourself, why would anyone want to put money into an investment of this caliber and have no governance rights or board seats?”
“Essentially,” she added, “people want to have control/access/political power behind the scenes.”
“Reality is,” Fischer explained, this hostile takeover is a good explanation “of how capitalism/democracy can be exploited for political gain,” with “Paramount essentially betting our open system incentivizes shareholders to take [the] best financial deal even if it means giving soft power” to three sovereign wealth funds, the President, and his son-in-law.
Critics are blasting Kushner’s and Trump’s involvement.
U.S. Senator Elizabeth Warren (D-MA) remarked, “Donald Trump said he’ll ‘be involved in’ deciding if Netflix can buy Warner Bros. Is that an open invite for CEOs to curry favor with Trump in exchange for merger approvals? It should be an independent decision by the Department of Justice based on the law and facts.”
Award-winning journalist Sophia A. Nelson, responding to Trump’s remarks, observed: “This is ridiculous. Corrupt. And NOT what a President gets involved in.”
Professor, investor, and marketing executive Adam Cochran wrote: “Trump is talking about him personally being involved in deciding the fate of the Netflix-Warner Brothers deal, and how it’s ‘bad.’ Meanwhile his son-in-law is financing the competing offer. There has truly never been a more corrupt administration in US history!”
Alexander Vindman, former Director of European Affairs for the United States National Security Council (NSC), wrote: “F– NO to another corrupt Trump deal. Nepobaby, Jared’s, involvement would deliver CNN to MAGA.”
NewsNation’s Kurt Bardella, a communications advisor and media relations consultant, asked: “Alexa, what is a ‘conflict-of-interest’?”
