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Edgar Bronfman “Exiting” $6B Bid For Paramount, Clears Way For Skydance Merger
The Paramount Global ball is back in Skydance‘s court as Edgar Bronfman has suddenly discontinued his $6 billion bid for the Shari Redstone-run media giant. “Tonight, our bidding group informed the special committee that we will be exiting the go-shop process. It was a privilege to have the opportunity to participate,” Bronfman announced Monday evening. […]
The Paramount Global ball is back in Skydance ‘s court as Edgar Bronfman has suddenly discontinued his $6 billion bid for the Shari Redstone-run media giant. We continue to believe that Paramount Global is an extraordinary company, with an unrivaled collection of marquee brands, assets and people. Charles Phillips, the head of Paramount’s special board committee tasked with evaluating offers, has been rumored to have nudged Bronfman’s bid along.
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