Edgar Bronfman “Exiting” $6B Bid For Paramount, Clears Way For Skydance Merger

The Paramount Global ball is back in Skydance's court as Edgar Bronfman has discontinued his short-lived $6 billion bid to take control of the Shari Redstone-run media giant. "Tonight, our bidding group informed the special committee that we will be exiting the go-shop process. It was a privilege to have the opportunity to participate," Bronfman said in a statement Monday evening. "We continue to believe that Paramount Global is an extraordinary company, with an unrivaled collection of marquee brands, asset ...