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

FILE - The main gate to Paramount Studios is seen on Melrose Avenue, July 8, 2015, in Los Angeles. NEW YORK — The merger between entertainment giant Paramount and media company Skydance is set to go ahead after Edgar Bronfman Jr. withdrew a competing offer.

Bronfman, the former chairman and CEO of Warner Music, had intitially offered $4.3 billion for Shari Redstone’s National Amusements, the controlling shareholder of Paramount, according to multiple media reports. He then upped that bid to $6 billion. 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, Sumner Redstone. She had battled to maintain control of the company that owns CBS, which is behind blockbuster films such as “Top Gun” and “The Godfather.”

The proposed combined company of Paramount and Skydance is valued at around $28 billion. The deal is expected to close in September 2025, pending regulatory approval.

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

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.
Источник: ksatnews - 🏆 442. / 53 Прочитайте больше »

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.
Источник: wjxt4 - 🏆 246. / 63 Прочитайте больше »

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.
Источник: AP - 🏆 728. / 51 Прочитайте больше »

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.
Источник: CBSNews - 🏆 87. / 68 Прочитайте больше »