Paramount M&A Saga Continues: Edgar Bronfman Jr., Bain Capital Mulling up to $2.5 Billion Bid for Shari Redstone’s National Amusements
variety.comTodd Spangler NY Digital Editor Shari Redstone may have yet another offer on the table to buy National Amusements Inc., the controlling shareholder of Paramount Global — the latest twist in the months-long M&A drama swirling around the troubled media conglomerate.
Erstwhile media mogul Edgar Bronfman Jr. is teaming with investment firm Bain Capital to put together an offer of up to $2.5 billion for Redstone’s National Amusements, sources confirmed.
NAI owns 77% of the voting shares in Paramount. At this point, Bronfman and Bain have not made a formal offer to buy NAI; it’s unclear what their plan for Paramount would be if they succeeded in acquiring National Amusements.
Bronfman and Bain Capital’s prospective bid was first reported by the Wall Street Journal. Reps Bain Capital, National Amusements and Waverley Capital (the venture-capital firm for which Bronfman serves as chairman and general partner) declined to comment.
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