Edgar Bronfman Jr. Preparing Bid For Paramount Global – Report
deadline.comAs the August 21 deadline looms for other parties to make a run at Paramount (or forever hold their peace), the Wall Street Journal reports that Edgar Bronfman Jr.
has not exited the Paramount scene but is in talks with investors and preparing a bid. The stock, which frequently jumps about on news like this, is up nearly 8%.
Other potential acquirers like Barry Diller’s IAC have dropped by the wayside given the size and complexity of the business combination, which seemed to leave the path clear for Skydance.
David Ellison’s company backed by Oracle co-founder Larry Ellison and Gerry Cardinale’s Redbird Capital, announced the circa $8 billion, multi-step transaction in July but with a so-called “go-shop” period of 45 days for Par to field other offers.
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