Edgar Bronfman Jr. Makes $4.3 Billion Bid to Take Control of Paramount Global in Challenge to Skydance Deal
variety.comTodd Spangler NY Digital Editor The book isn’t closed yet on Paramount Global‘s months-long M&A epic. On Monday (Aug. 19), billionaire media mogul Edgar Bronfman Jr.
submitted an offer valued at $4.3 billion to acquire Shari Redstone’s National Amusements Inc., which is the controlling shareholder of Paramount Global, Variety has confirmed.
Bronfman’s bid is an attempt to rival the offer from David Ellison’s Skydance Media and its financial backers, which last month clinched a binding agreement worth more than $8 billion for NAI and Paramount Global, whose properties include CBS, Paramount Pictures, Showtime/MTV Entertainment Studios and Paramount Media Networks.
Bronfman’s bid was submitted to the special committee established by Paramount Global’s board to evaluate M&A offers, which is expected to review it on Wednesday.
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