Edgar Bronfman, Jr.
Cameron Costa | CNBC
Edgar Bronfman Jr. has made a bold move by offering to acquire a controlling stake in Paramount Global, potentially keeping Shari Redstone closely tied to the company if his bid proves successful.
Reports suggest that Bronfman is willing to have Redstone, the current non-executive chairman at Paramount, continue her involvement with the company should the Paramount special committee approve his consortium’s bid for National Amusements, the controlling shareholder.
Sources reveal that Bronfman has secured $6 billion to rival Skydance Media in the battle for ownership of National Amusements, the company established by Sumner Redstone. Both Bronfman’s and Skydance’s bids also include provisions to buy out a portion of Paramount Global’s common shareholders.
If successful, Bronfman’s $6 billion bid would offer $16 per share to approximately 20% of Class B holders, while Skydance’s bid would pay out $15 per share to around 50% of current Paramount common investors.
2024-08-23 15:42:26
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