The book is not yet closed on Paramount Global's months-long merger and acquisition saga.
Competitive Bidding for Paramount: What's Next for the Company?
On Monday (August 19), billionaire media mogul Edgar Bronfman Jr. made a $4.3 billion bid to acquire Shari Redstone's National Amusements Inc., the controlling shareholder of Paramount Global, Variety confirmed.
Bronfman's bid is an attempt to compete with the offer from David Ellison's Skydance Media and its financiers, who last month struck a binding deal worth more than $8 billion for NAI and Paramount Global.
Bronfman's offer was submitted to the special committee established by Paramount Global's board of directors to evaluate M&A offers, which is expected to review it Wednesday. Representatives for NAI and Bronfman declined to comment; representatives for the special committee of Paramount's board of directors did not respond to a request for comment.
