Edgar Bronfman Jr. dropped Paramount bid after running out of time to secure financing

Edgar Bronfman Jr. walked away from his bid for Paramount after the company's special committee demanded his consortium submit a final offer Monday, according to people familiar with the matter. Initially, Bronfman thought he would have until end of day Tuesday to round up financing, but the deadline moved up a day to give the special committee and its financial adviser Centerview Partners enough time to perform due diligence on the bid, said the people, who asked not to be named because the discussions wer ...