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

WASHINGTON – Mr Jared Kushner’s financing role in Paramount’s US$108 billion (S$140 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 on Dec 8 launched a hostile bid for Warner Bros Discovery in a

last-ditch effort to outbid Netflix

and create a media powerhouse.

Paramount said its offer includes financing from Mr Kushner’s investment firm Affinity Partners, with financing from the Saudi and Qatari sovereign wealth funds and L’imad Holding, owned by Abu Dhabi.

US President Donald Trump told reporters on Dec 8 that he has not spoken with Mr Kushner about Warner Bros Discovery, adding that neither Netflix nor Paramount “are friends of mine”.

A day earlier,

Mr 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 Mr Trump’s involvement will be another test of how far the President – whose family business interests have grown while he has been in office in 2025 – 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 Ms Nell Minow, chair of Portland, Maine-based ValueEdge Advisors, adding Mr 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 US 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 Mr 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.

Questions raised before

Mr Kushner served as a White House adviser during Mr Trump’s first term, and has continued to be involved in Middle East policy during Mr Trump’s second administration, though he does not have an official title.

Questions about whether Mr Kushner has benefited from his father-in-law’s presidency have been raised before.

In 2025, Mr Trump proposed that the US should clear the war-torn Gaza Strip and

develop it as an international beach resort

, echoing an idea floated by Mr Kushner, who was a property developer in New York before Mr Trump’s first term.

Affinity Partners enjoyed a cash influx from Middle Eastern investors in 2024, as Mr Trump was seeking re-election.

“The blurred line between running the government and the family’s business interests is expanding each day,” said Mr Scott Amey, general counsel with public interest group Project On Government Oversight.

Mr Trump should “avoid saying and doing anything related to the potential Warner Brothers deal, and steer clear of any allegation that he is trying to help his son-in-law, who is tied to Paramount”, Mr Amey said.

All of Mr Trump’s multi-billion dollar real estate, golf, media and other business interests are in a trust managed by his children. But he can take the assets out of the trust once he is out of office, benefiting from the wealth generation that occurs now. REUTERS