JOURNAL ARTICLE

Edgar Bronfman Drops Out of Bidding War for Paramount Global.

  • Published In: Bloomberg.com, 2024. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Miller, Hannah 3 of 3

Abstract

Edgar Bronfman Jr., heir to Seagram Co., has withdrawn from the bidding war for Paramount Global after submitting a $6 billion proposal for the entertainment company. Bronfman's bidding group cited a tight deadline to submit financial documents as one of the reasons for their withdrawal. Paramount had already agreed to a merger with Skydance Media, founded by David Ellison, and Bronfman's bid caused the special committee to extend the window for offers. The end of Bronfman's bid likely clears the way for Paramount's merger with Skydance. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2024/08, pN.PAG
  • Document Type:Article
  • Subject Area:Biography
  • Publication Date:2024
  • Accession Number:179256817
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