The Wall Street Journal revealed on Monday that media executive Edgar Bronfman Jr. made a $4.3 billion proposal for National Amusements, owned by Shari Redstone, together with its share in Paramount Global.
More than a month has passed since Redstone and David Ellison’s Skydance Global struck an agreement that will combine Paramount and Skydance into a new business led by Ellison.
Given that years of negotiations with many parties resulted in the Skydance merger, Bronfman’s offer may make Paramount’s future more difficult.
According to reports from early in August, Bronfman was considering making a bid for Paramount.
After leading the Warner Music Group’s sale to Access Industries, Bronfman is currently the chairman of the streaming service Fubotv Inc (NYSE:FUBO).
Being one of Hollywood’s original studios, Paramount has long been coveted by many media businesses hoping to acquire access to its assortment of properties, which includes Nickelodeon, Comedy Central, and MTV, among other television networks.
