Bronfman Withdraws $6B Bid for Paramount Amid Financial Concerns
Media executive Bronfman pulls out of the race to acquire Paramount Global, retracting his $6 billion offer due to high net worth individuals' unease with financial disclosures. Paramount, renowned for its assets including a film studio and popular networks, faced potential disruption from Bronfman's bid, especially with the impending $8.4 billion Skydance deal.
This move likely ends the bidding war with Skydance, led by David Ellison. As Bronfman exits the go-shop process, Paramount is exploring the sale of non-core TV stations amidst the takeover drama, offering potential buyers a strategic opportunity post-election.
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Edgar Bronfman Jr. Drops Pursuit of Paramount
Edgar Bronfman drops out of bidding for Paramount Global - reports
Media exec Bronfman pulls out of race to acquire Paramount
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