Edgar Bronfman, Jr., heir to the Seagram's fortune and former Warner Music Group CEO, is now competing with Skydance to buy Paramount Global
Edgar Bronfman, Jr., heir to the Seagram's fortune and former Warner Music Group CEO, is now competing with Skydance to buy Paramount Globalmay not be a done deal just yet. David Ellison’s acquisition of the legendary studio would become official on Wednesday barring any other suitor coming at the last minute. And wouldn’t you know, Edgar Bronfman, Jr.
Bronfman is the heir to the Seagram’s fortune and was once CEO of the family business, but he also has ties to the entertainment industry, having produced films in the past and served as the CEO of Warner Music Group from 2004 to 2011. He’s currently the chairman of FuboTV. Bronfman reportedly made a $4.3 billion offer for Paramount. $2.4 million of that would go directly to Shari Redstone, whose family company National Amusements owns the controlling share of Paramount Global. $1.
Nevertheless, there are similarities to these deals: Ellison and Bronfman are both backed by family money, and both have entertainment experience under their belts. Both deals offer Shari Redstone a big payday, which bothered some shareholders during the Skydance negotiations , because it seemed like she was the only one getting out good.
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