KEY TAKEAWAYS Skydance Media reportedly is demanding that Paramount Global stop acquisition talks with media executive Edgar Bronfman Jr. According to The Wall Street Journal, Skydance's lawyers said Paramount's special committee breached the terms of its deal for Shari Redstone's media empire by extending the "go-shop" deadline to Sept. 5. Paramount on Wednesday extended the deadline after receiving Bronfman's reported $6 billion offer for Redstone's National Amusements and a minority stake in the entertai ...

Skydance Media is urging Paramount Global to stop considering a proposal by an investor group led by Edgar Bronfman Jr. to buy control of the company, threatening to withdraw its own offer unless it does. In a letter from its lawyers on Thursday, Skydance told Paramount it had breached the terms of a merger agreement the two companies announced last month. The deal includes a "go-shop" provision allowing the committee of Paramount's board of directors formed to steer the M&A process to pursue a "superior" o ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, The ...

KEY TAKEAWAYS Paramount Global's special committee has extended the "go-shop" deadline to Sept. 5 as it reviews the latest takeover bid by Edgar Bronfman Jr. that may trump Skydance Media's accepted offer. The Wall Street Journal reported that Bronfman raised his offer for Shari Redstone's media empire to $6 billion for Paramount controlling shareholder National Amusements and a minority stake in the entertainment giant. David Ellison's Skydance had agreed to a deal with Redstone worth more than $8 billion ...

The future of Paramount Global is still uncertain. Paramount's special committee on Wednesday said it would extend by 15 days an agreed-upon "go shop" period of its merger agreement with Skydance as it reviews a competing offer from Edgar Bronfman Jr. Bronfman initially offered $4.3 billion for Shari Redstone's National Amusements, the controlling shareholder of Paramount, according to a person familiar with the bid. However, after placing the bid late Monday, Bronfman raised more funds to support a higher ...

Topline It's a battle of the billionaire scions for the wavering Paramount media empire, with gin heir Edgar Bronfman Jr. reportedly throwing in his own multibillion-dollar bid for media heiress Shari Redstone's stake in the CBS parent company, competing with an agreed-upon offer from David Ellison, the son of tech billionaire and the world's fifth-richest person, Larry Ellison. Edgar Bronfman, Jr speaks at a 2019 conference. Getty Images Key Facts Several outlets reported Bronfman made an approximately $4. ...

KEY TAKEAWAYS Media executive Edgar Bronfman Jr. has reportedly submitted a formal $4.3 billion bid for National Amusements, the controlling shareholder of Paramount Global, after Skydance Media struck a deal for Shari Redstone's media empire last month. According to The Wall Street Journal, Bronfman's offer for National Amusements is similar in price to Skydance's. Apart from a $400 million breakup fee, a key difference is that there would be no dilution for Paramount shareholders, as it isn't an all-stock ...

Core Viewpoint - Edgar Bronfman Jr. has submitted a $4.3 billion bid to acquire Paramount Global through National Amusements, challenging a previous agreement with Skydance Media [1][2]. Group 1: Bid Details - Bronfman's offer includes $2.4 billion in debt and equity for National Amusements and an additional $1.5 billion to strengthen Paramount's balance sheet [2]. - The bid also incorporates a $400 million breakup fee to terminate the existing deal with Skydance [2]. Group 2: Competitive Landscape - Skydance Media had previously reached an agreement to acquire Paramount, valuing the company at $4.75 billion in an all-stock transaction [3]. - Paramount's board is expected to evaluate Bronfman's offer and may extend the "go-shop period" until September 5 to consider competing bids [5]. Group 3: Background on Edgar Bronfman Jr. - Bronfman has a history in the media industry, having previously acquired MCA and Warner Music Group, and attempted to acquire Time Inc. [7]. - His experience and past ventures indicate a strong understanding of the media landscape, which may influence the outcome of the current bid [6][7].

Core Viewpoint - Edgar Bronfman Jr. is preparing to bid for Paramount Global shortly before a pending $8 billion merger with Skydance Media becomes official [1][2] Group 1: Bid and Acquisition Details - Bronfman is in discussions with potential investors to support his bid for National Amusements, the parent company of Paramount Global [1][2] - The deadline for Bronfman to submit his proposal is August 21, coinciding with the end of the "go-shop period" for Paramount [2] - Paramount would incur a $400 million breakup fee if it chooses to pursue another bid instead of the merger with Skydance [3] Group 2: Company Restructuring and Financials - Paramount has initiated a cost-cutting strategy, including layoffs of 15% of its workforce and a nearly $6 billion write-down of its cable networks [4] - The new combined entity with Skydance is valued at approximately $28 billion, with an expected closing date in September 2025, pending regulatory approval [6] Group 3: Historical Context and Leadership Changes - The merger with Skydance signifies the end of the Redstone family's long-standing influence in Hollywood, as Shari Redstone's National Amusements has controlled a significant portion of Paramount's voting shares [5] - David Ellison, founder of Skydance, is set to become the chairman and CEO of the newly formed company, referred to as New Paramount [8] Group 4: Strategic Vision - Ellison has emphasized a "creative first" approach and the need for the company to evolve into a "tech hybrid" to remain competitive in the changing media landscape [9]

CBS Sports CEO David Berson said the volatility at parent company Paramount Global, which is laying off 15% of its U.S. workforce and preparing to merge with Skydance Media, isn't taking his division off its game. "There's no doubt that the media and entertainment world is incredibly complex these days, but there's no doubt that the sports world is growing in value every single day," the exec said Wednesday at an NFL media breakfast at Paramount's corporate headquarters in New York. Berson has been in the t ...