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Stock impact report

Jared Kushner drops out of $100bn Warner Bros bid battle [Yahoo! Finance]

Apollo Global Management, Inc. (New) (APO) 
Last apollo global management, inc. (new) earnings: 5/1 07:00 am Check Earnings Report
US:NYSE Investor Relations: apollo.com/shareholders/overview
Company Research Source: Yahoo! Finance
Mr Kushner's private equity firm, Affinity Partners, on Tuesday said it would no longer be backing a hostile takeover offer for Warner Bros by Paramount, the Hollywood studio owned by the billionaire Ellison family. Miami-headquartered Affinity was one of several backers behind Paramount's $108bn move for the group , which is seeking to upend an agreed $83bn bid from rival Netflix A spokesman for Mr Kushner's firm said: “With two strong competitors vying to secure the future of this unique American asset, Affinity has decided no longer to pursue the opportunity. “The dynamics of the investment have changed significantly since we initially became involved in October.” The spokesman added: “We continue to believe there is a strong strategic rationale for Paramount's offer.” As son-in-law of the US president Donald Trump , Mr Kushner was seen as a pivotal figure in helping Paramount clinch the takeover. Paramount, led by David Ellison, who is the son of billionaire tech foun Show less Read more
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