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Bronfman Reportedly Bids $4.3B for Control of Paramount
PGREParamount (PGRE) Investopedia·2024-08-20 13:21

KEY TAKEAWAYS Media executive Edgar Bronfman Jr. has reportedly submitted a formal 4.3billionbidforNationalAmusements,thecontrollingshareholderofParamountGlobal,afterSkydanceMediastruckadealforShariRedstone′smediaempirelastmonth.AccordingtoTheWallStreetJournal,Bronfman′sofferforNationalAmusementsissimilarinpricetoSkydance′s.Apartfroma4.3 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 ...