Paramount Set for Skydance Takeover After Bronfman Withdraws Bid

KEY TAKEAWAYS Paramount Global's special committee said Edgar Bronfman Jr. has withdrawn from bidding for Shari Redstone's media empire. Bronfman's retreat sets the stage for the entertainment giant to be sold to David Ellison's Skydance Media. The committee said that it had "contacted more than 50 third parties" to see if they were interested in bidding for Paramount. Paramount Global's (PARA) special committee said Edgar Bronfman Jr. has withdrawn from bidding for Shari Redstone's media empire, setting th ...