News Formal

Edgar Bronfman Jr. withdraws offer for Paramount, allowing Skydance merger to go ahead

  • 📰 wjxt4
  • ⏱ Reading Time:
  • 36 sec. here
  • 8 min. at publisher
  • 📊 Quality Score:
  • News: 39%
  • Publisher: 63%

Edgar Bronfman News

Jr.,U.S. News,David Ellison

The merger between entertainment giant Paramount and media company Skydance is set to go ahead after Edgar Bronfman Jr. withdrew a competing offer.

FILE - The main gate to Paramount Studios is seen on Melrose Avenue, July 8, 2015, in Los Angeles. is set to go ahead after Edgar Bronfman Jr. withdrew a competing offer.

Paramount agreed last month to a merger deal with Skydance that will inject desperately needed cash into a legacy studio that has struggled to adapt to a shifting entertainment landscape. Shari Redstone’s National Amusements has owned more than three-quarters of Paramount’s Class A voting shares through the estate of her late father,. She had battled to maintain control of the company that owns CBS, which is behind blockbuster films such as “Top Gun” and “The Godfather.”

Skydance, based in Santa Monica, California, has helped produce some major Paramount hits in recent years, including Tom Cruise films like “Top Gun: Maverick” and installments of the “Mission Impossible” series.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 246. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Edgar Bronfman Jr. withdraws offer for Paramount, allowing Skydance merger to go aheadThe merger between entertainment giant Paramount and media company Skydance is set to go ahead after Edgar Bronfman Jr. withdrew a competing offer.
Source: ksatnews - 🏆 442. / 53 Read more »

Edgar Bronfman Jr. withdraws offer for Paramount, allowing Skydance merger to go aheadThe merger between entertainment giant Paramount and media company Skydance is set to go ahead after Edgar Bronfman Jr. withdrew a competing offer. Bronfman is executive chairman of streaming service Fubo. He told Paramount’s special committee of directors that he would not proceed with his bid.
Source: AP - 🏆 728. / 51 Read more »

Paramount extends its Skydance go-shop period to consider acquisition bid from Edgar BronfmanThe decision to consider the bid from Seagram heir Edgar Bronfman comes after Paramount had agreed to merge with Skydance.
Source: CBSNews - 🏆 87. / 68 Read more »