Bronfman Bids $4.3 Billion for Paramount, Challenging Skydance Offer

Edgar Bronfman Jr. has made a $4.3 billion bid to acquire Paramount Global by purchasing the controlling shareholder, National Amusements, for $1.75 billion and investing an additional $1.5 billion in debt reduction. This rivals a previous offer from Skydance Media, led by David Ellison, which involves a $2.4 billion acquisition of National Amusements and a $6 billion investment in Paramount shares and debt. Bronfman argues his proposal benefits Paramount`s non-Redstone shareholders by causing less dilution. Paramount, facing challenges due to changing consumer viewing habits, was built by the late Sumner Redstone. Bronfman, known for his time at MCA Inc. and Warner Music Group, currently chairs FuboTV Inc.