Edgar Bronfman’s Paramount Bid Could Land As Early As Tonight As Deadline Looms – The Dish
deadline.comEXCLUSIVE: We are hearing that Edgar Bronfman Jr.‘s bid for Paramount Global could come as early as tonight ahead of an 11:59 ET deadline on Aug.
21. That’s when Par’s merger with Skydance will become official if no “superior” offer has emerged. Skydance and Paramount’s circa $8 billion combination announced in July included a 45-day go-shop period that can be extended twice in 15-day increments, which would kick in if the special committee of Par’s board of directors has another offer credible enough to explore further.
It now appears on the cusp of a new entrant in former Seagram scion and entertainment executive at Vivendi Universal and Warner Music, which could declare as early as tonight, although it might slide into tomorrow.
The terms are not known, but Deadline hears that Bronfman’s bid no longer includes Roku among its backers. Fortress Investment Group is said to be an investor.
Read more on deadline.com
