Comment on Looks like Paramount really does have a second bidder

Looks like Paramount really does have a second bidder

Media executive Edgar Bronfman Jr. has submitted a bid that throws a wrench into Paramount's deal with David Ellison's Skydance Media.Michael Kovac and Mario Tama/Getty Images, Evan Agostini/Invision/APParamount announced a merger with Skydance Media in July.The deal, however, had a 45-day period that allowed Paramount to seek other bidders.Cue in Edgar Bronfman Jr., ex-CEO of Warner Music Group, who submitted an offer at the 11th hour.Skydance Media's honeymoon with Paramount has just been put on pause, for now.Hours before Paramount's $8 billion deal with David Ellison's Skydance would have been cemented, a special committee overseeing Paramount's acquisition announced in a press release that it's considering another offer from media mogul Edgar Bronfman Jr., the former CEO of Warner Music Group.Spokespersons for Bronfman and Skydance did not respond to a request for comment.Paramount Global and Skydance announced a merger in July, capping months of a tumultuous dealmaking process.

 

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