Close Menu
  • Homepage
  • Local News
  • India
  • World
  • Politics
  • Sports
  • Finance
  • Entertainment
  • Business
  • Technology
  • Health
  • Lifestyle
Facebook X (Twitter) Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
Facebook X (Twitter) Instagram Pinterest
JHB NewsJHB News
  • Local
  • India
  • World
  • Politics
  • Sports
  • Finance
  • Entertainment
Let’s Fight Corruption
JHB NewsJHB News
Home»Finance»Edgar Bronfman to Prepare an Offer for Paramount Global
Finance

Edgar Bronfman to Prepare an Offer for Paramount Global

August 16, 2024No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Edgar Bronfman to Prepare an Offer for Paramount Global
Share
Facebook Twitter LinkedIn Pinterest Email

(Bloomberg) — Seagram Co. inheritor Edgar Bronfman Jr. is shut to creating a proposal for Paramount International, setting off a possible bidding conflict for the movie and TV firm that owns CBS and MTV.

Most Learn from Bloomberg

As a part of his plan, Bronfman is weighing making a proposal for Nationwide Amusements Inc., the Redstone household firm that controls Paramount, in addition to an funding in Paramount itself, in accordance with one of many individuals, who requested to not be recognized discussing plans that aren’t public.

The main points are nonetheless being labored out, the individuals stated. A spokesperson for Bronfman declined to remark.

Paramount agreed in July to merge with Skydance Media, the movie manufacturing firm based by David Ellison, the son of Oracle Corp. billionaire Larry Ellison.

After months of negotiations, Paramount Chair Shari Redstone agreed to promote the household holding firm and its 77% voting stake in Paramount to the youthful Ellison for $2.4 billion.

Beneath that deal, Ellison and RedBird Capital Companions stated they might make investments greater than $8 billion for a controlling stake in Paramount and merge the enterprise with Skydance, which might be valued at $4.75 billion.

The businesses agreed on the time to a 45-day interval by which different potential bidders might submit competing affords.

Bronfman’s group is framing its proposal as a greater deal for traders as a result of it gained’t embrace the dilution related to the Skydance merger.

His group has held talks with potential backers together with Fortress Funding Group and streaming-device maker Roku, the Wall Avenue Journal reported. Bain Capital is now not working with Bronfman, in accordance with one of many individuals.

Shares of Paramount rose as a lot as 8% to $11.05 in New York.

Earlier this week Paramount started the method of reducing 2,000 US jobs, a part of a cost-cutting drive throughout the corporate. Final week, the corporate reported a second-quarter loss after writing down the worth of its flagging cable TV networks by $6 billion.

(Updates with particulars of Bronfman plans in eighth paragraph.)

Most Learn from Bloomberg Businessweek

©2024 Bloomberg L.P.

Source link

Bronfman Edgar Global offer Paramount prepare
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

China’s EV price war is heating up. What’s behind the big discounts?

May 29, 2025

GM to invest $888 million for engine production at New York facility

May 29, 2025

Goldman-backed Starling Bank profit drops amid Covid loan issue

May 29, 2025

How to use a HELOC to pay off debt (and when it makes sense)

May 29, 2025
Add A Comment
Leave A Reply Cancel Reply

Editors Picks

‘Substantial grounds’ for rejecting L&T bid for Mumbai elevated road and tunnel projects, MMRDA tells SC | India News

May 29, 2025

From medieval texts to festive plates, tracing the story of puran poli | Food-wine News

May 29, 2025

3 underwhelming Florida Panthers players who need to step up in Stanley Cup Final ft. Gustav Forsling

May 29, 2025

Ex-Obama Adviser Spots Exactly How Trump Caught A Big Break With Tariff Decision

May 29, 2025
Popular Post

Binance France chief brushed off concerns days before police visit

Can Lions still make the playoff? Detroit’s playoff chances explained

COVID long-haulers face stigma: Study

Subscribe to Updates

Get the latest news from JHB News about Bangalore, Worlds, Entertainment and more.

JHB News
Facebook X (Twitter) Instagram Pinterest
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
© 2025 Jhb.news - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.