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Edgar Bronfman Jr. Evaluating Potential Bid for Paramount Global to Counter Skydance Deal
Edgar Bronfman Jr. is still entertaining a potential offer for Paramount Global, even after Skydance clinched a deal to acquire the media company.
If Paramount opts to go with a rival bid, the company would be obligated to pay a $400 million breakup fee to the Skydance investor group. Bronfman had previously engaged with investment firm Bain Capital to put together an offer of up to $2.5 billion for Redstone’s National Amusements. Meanwhile, IAC chairman Barry Diller last week said “I think it is over” in discussing his previous interest in Paramount during an interview in Paris with CNBC ahead of the start of the Summer Olympic Games.
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