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Paramount Global receives $4.3bn takeover offer from Edgar Bronfman Jr
Veteran media executive’s bid would scupper Hollywood media empire’s planned merger with Skydance Media
Bronfman submitted a $4.3bn offer for National Amusements, the vehicle that holds media tycoon Shari Redstone’s controlling stake in Paramount, the Wall Street Journal reported, citing sources familiar with the situation. On Tuesday, Axios reported that Bronfman – who once led Warner Music and Seagram, the spirits conglomerate – had raised a total of $5.5bn to fund his bid. Skydance and its deal partners reached an agreement last month to acquire Paramount in a complicated transaction, in which it would buy out the Redstone family’s controlling stake and subsequently merge into the larger publicly traded company.
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