A private equity firm owned by U.S. President Donald Trump's son-in-law, Jared Kushner, is no longer backing Paramount's hostile acquisition bid for Warner Bros. Discovery, the firm confirmed Tuesday.

Affinity Partners had planned to back a bid by Paramount Skydance to acquire all the assets of media giant Warner Bros. Discovery.

One of Paramount's financing partners, owned by Donald Trump's son-in-law Jared Kushner, is pulling out of the battle amid reports the Warner Bros board would prefer Netflix's offer.

Jared Kushner's Affinity Partners is exiting Paramount's $108 billion hostile bid for Warner Bros., as the studio's board plans to back Netflix's $82.7 billion deal instead.

Paramount's bid to acquire Warner Bros. over Netflix has turned hostile as the company aims to acquire a higher stake in television.

A future Congress controlled by Democrats would “review many of the decisions of the current Administration,” two House Democrats said Wednesday.

“The Late Show” audience erupted in cheers on Tuesday — and even chanted Stephen Colbert ’s name — after the host delivered a pointed line about Paramount Skydance’s hostile takeover bid for Warner Bros. Discovery. Paramount launched its $108 billion offer this week, days after Warner announced plans to sell to Netflix in an $82.7 billion deal.