TheWrap

The media investor and former Warner Music CEO vies for Shari Redstone's stake in National Amusements ahead of Skydance’s go-shop window deadline
The post Edgar Bronfman Jr. Makes Last-Minute $4.3 Billion Bid for Paramount appeared first on TheWrap.

Edgar Bronfman Jr. Makes Last-Minute $4.3 Billion Bid for Paramount

With the Skydance Media agreement in play, Edgar Bronfman Jr. submitted a $4.3B counter offer for Paramount Global within the 45-day window. So here's the thing about that deal that David Ellison's Skydance Media, Gerry Cardinale's RedBird Capital, and Shari Redstone's National Amusements Inc (NAI) announced back in July that would lead to Skydance owning Paramount Global. Even with the process by which Skydance would take over pretty well laid out, the tentative agreement did give Redstone a 45-day window to field offers from other parties. Previously, Apollo Global Management (alone and with Sony Pictures), Barry Diller, and Edgar Bronfman Jr. had explored bids for Paramount Global – but it wasn't clear at the time if they or anyone else would entertain a challenge to Skydance's offer (especially with the $400 million "breakup" fee that Skydance would receive if Paramount went in a different direction). Well, Deadline Hollywood is reporting that Bronfman hasn't given up yet – tendering an offer for Paramount Global before the 11:59 pm ET deadline on August 21st, an offer estimated to be worth $4.3B.

Paramount Global/Skydance Deal Gets Edgar Bronfman $4.3B Counter

New York Post

The drama around Paramount Global is entering a new act after media mogul Edgar Bronfman Jr. submitted a $4.3 billion bid that could put the company’s proposed merger with David Ellison’s Skydance Media on ice. 

Bronfman made his offer to take control of the conglomerate — home to CBS, MTV, Comedy Central and Hollywood studio Paramount — by acquiring the Redstone family holding company, National Amusements, sources said. 

The offer comes a month after Shari Redstone and Paramount’s board members approved a bid from Ellison’s production giant Skydance to buy Paramount in a complex transaction valued at $8.4 billion.

Wall street...

Bidding war erupts over Paramount as Edgar Bronfman submits $4.3B competing offer

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Los Angeles County, CA

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Edgar Bronfman Jr., the former head of Warner Music Group, has submitted a bid of $4.3 billion to take control of Paramount Global.

Plot twist: Billionaire media exec submits $4.3B bid for Paramount, reports say

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On Monday, Edgar Bronfman Jr., the Seagram heir and former media mogul, made it official with a $4.3 billion bid to acquire Shari Redstone’s National Amusements Inc. The company owns a majority of Paramount Global, owner of the famed Paramount movie studios. The news comes just a few days...

Edgar Bronfman Jr. Makes $4.3 Billion Offer for Redstone’s National Amusements

NewsBreak

New $4.3 Billion Paramount Bid Puts Future of CBS Sports in the Balance

The long-term structure of CBS Sports’ parent company is once more in question as a new bid has emerged for control of Paramount Global. Six weeks...

New $4.3 Billion Paramount Bid Puts Future of CBS Sports in the Balance

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