The Latest Breaking News from Paramount Global

Ex-Warner Music chief had formed consortium to gazump planned deal but some would-be investors withdrew

Withdrawal appears to clear way for Skydance to close acquisition of struggling media company

Entertainment giant Paramount Global is extending by 15 days a period where it’s allowed to assess alternative offers to its merger agreement with Skydance so that it can review a proposal from Edgar Bronfman, Jr. Paramount said late Wednesday that the “go shop” period for Bronfman will be extended until…

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Bronfman's latest offer includes $3.2 billion in funds that could be used to reduce Paramount's debt or to buy non-voting shares from investors.

Veteran media executive’s bid would scupper Hollywood media empire’s planned merger with Skydance Media

Shari Redstone’s National Amusements gets $2.4 billion

The bid also covers a $400 million breakup fee, which would be necessary to terminate a competing agreement that Paramount Global had previously entered into.

Paramount Global also took a $6 billion write down ahead of its merger with Skydance Media.