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Edgar Bronfman Backers, More Details Emerge In Bid For Paramount That Seeks To Unseat Skydance
Edgar Bronfman's bid for Paramount includes backers Steve Paul and Paul Dejoria, Brock Pierce and a Kazakh businessman. He wants Paramount's board to extend the go-shop agreement with Skydance.
Bronfman is offering Shari Redstone$2.4 billion for her family holding National Amusements, which controls Paramount Global through its lock on Class A voting shares — the same sum agreed to by David Ellison ‘s Skydance. The chair of Fubo, scion of the Seagram drinks empire and former head of Universal and Warner Music, is said to be pitching his offer as cleaner and less dilutive, since it doesn’t include a merger. Paramount and Skydance, backed by Oracle co-founder Larry Ellison and RedBird Capital, started talking late last year and after some false and a messy process completed a deal last month.
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