Bronfman submits a $4.3-billion bid to acquire the Redstone family's National Amusements, which controls the media company that also owns CBS and MTV, a source says.
Former top Seagram and Warner Music executive Edgar Bronfman Jr. has entered the fray to acquire Paramount Global, adding a new wrinkle to the auction of the storied Hollywood entertainment company. Bronfman submitted a bid Monday to acquire the Redstone family holding company, National Amusements Inc., which controls the media conglomerate that owns CBS, MTV, Comedy Central and the storied Paramount film studio, for $4.
co-founder Larry Ellison, also is backing his son's effort to build a larger media empire. The plan is to merge Skydance and Paramount. Under terms of the deal, Skydance and its financial partners RedBird Capital Partners and private equity firm KKR have agreed to provide a $1.5-billion cash infusion to help Paramount pay down debt. Their deal sets aside $4.5 billion to buy shares of Paramount’s Class B shareholders who are eager to exit.
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