Donald Trump's son-in-law, Jared Kushner, informally approached LionTree Advisors Chief Executive Aryeh Bourkoff about setting up a Trump TV network after the U.S. presidential election, but the investment bank does not want to be involved, according to a person familiar with the matter.
Kushner contacted Bourkoff, one of the media industry's top dealmakers, in the past few months, but there have been no further conversations, the source said on Monday. The source asked not to be identified because the discussions were private.
There was no reason given for LionTree's reluctance to participate in the process.
The Financial Times first reported the LionTree talks earlier on Monday, citing sources
Trump, the Republican U.S. presidential nominee, told the Washington Post last month he had "no interest in a media company" and that reports he was considering setting up one were "a false rumour." He trails Democratic rival Hillary Clinton in opinion polls ahead of the Nov. 8 election.
Kushner, the owner of the weekly New York Observer newspaper, is married to Trump's daughter Ivanka.
Kushner did not respond to requests for comment. LionTree declined comment.
To set up a television network, Trump would have to negotiate with cable and satellite carriers, which can be an arduous task. It can then take years to turn a profit. Fox News Channel, the most-watched U.S. cable network, took five years to be profitable.
It might be easier and less expensive for Trump to launch an online streaming service.
(Reporting by Liana Baker in San Francisco and Narottam Medhora in Bengaluru; Additional reporting by Jessica Toonkel in New York; Editing by Leslie Adler and Peter Cooney)