Skydance to Acquire Paramount After Bronfman Exits Bidding War

Skydance Media, led by David Ellison, is poised to acquire Paramount Global after competitor Edgar Bronfman Jr. withdrew his bid. The deal, expected to close in the first half of 2025, marks the end of a highly competitive bidding war for the struggling Hollywood studio. Paramount, burdened by debt and facing challenges in the streaming market, hopes Ellison will revitalize the company. Bronfman`s group, citing a short timeframe for financial documentation, withdrew their $6 billion offer, leaving Skydance`s bid of over $8 billion as the winning proposal.