Edgar Bronfman Jr. withdraws bid for Paramount, clearing path for Skydance merger

New York — Bronfman, executive chairman of streaming service Fubo, told Paramount's special committee of directors Monday night that he would not proceed with his bid. 'While there may have been differences, we believe that everyone involved in the sale process is united in the belief that Paramount's best days are ahead,' he said. Bronfman, the former chairman and CEO of Warner Music, had intitially offered $4.

, the chairperson of the Special Committee, said in a statement that, 'Having thoroughly explored actionable opportunities for Paramount over nearly eight months, our Special Committee continues to believe that the transaction we have agreed with Skydance delivers immediate value and the potential for continued participation in value creation in a rapidly evolving industry landscape.

Canada Canada Latest News, Canada Canada Headlines

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

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 »

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.
Source: wjxt4 - 🏆 246. / 63 Read more »