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Edgar Bronfman Jr. Preparing Bid For Paramount Global – Report
Edgar Bronfman Jr. is in talks with partners and preparing a bid for Paramount Global according to a news report, with Shari Redstone's company just days away from tying the knot with David Ellison's Skydance.
Other potential acquirers like Barry Diller’s IAC have dropped by the wayside given the size and complexity of the business combination, which seemed to leave the path clear for Skydance. The WSJ says that Bronfman, heir to the Seagram family fortune and a former media executive and head of Warner Music, has had talks about joining forces with players like Roku, Fortress Investment Group and Hollywood producer Steven Paul, who earlier in the process had put together a consortium for a bid that didn’t go anywhere. The difference now is that Paul and others, including Ellison, were initially eyeing an acquisition of only Shari Redstone ’s controlling stake in Paramount, which would give them ownership of the company for more like $3 billion without having to buy it all in.
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