David Ellison's Skydance Media had struck a deal earlier this month to acquire Paramount, which included a 45-day 'go shop' window to find a better offer...
FILE PHOTO: Edgar Bronfman Jr ., Chairman, Endeavor Global, speaks during the Milken Institute's 22nd annual Global Conference in Beverly Hills, California - Former Warner Music chairman Edgar Bronfman Jr . is still in talks with bankers about a potential bid for Paramount Global 's parent, National Amusements , Axios reported on Tuesday, citing sources .
Skydance and its deal partners would acquire National Amusements for $2.4 billion in cash. Ellison's media firm would subsequently merge with Paramount, offering $4.5 billion in cash or stock to shareholders and providing an additional $1.5 billion for Paramount's balance sheet.Bronfman was looking to offer between $2 billion and $2.5 billion for National Amusements, the private company that holds the Redstone family's controlling interest in Paramount.
The merger with Skydance Media was met with a court challenge last week after Paramount's investor Scott Baker sued to block the deal citing lower payout for shareholders.
David Ellison Skydance Media Paramount Global Axios Edgar Bronfman Jr Warner Music Citing Sources
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