Former media executive Edgar Bronfman Jr., backed by Bain Capital, has expressed interest in acquiring National Amusements, the controlling entity of Paramount Global, according to The Wall Street Journal.
Bronfman’s bid is estimated to be between $2 billion and $2.5 billion, adding a new layer of complexity to the ongoing negotiations for the company.
Skydance Media in advanced talks with Shari Redstone
The current owner of National Amusements, Shari Redstone, is already in advanced discussions to sell a majority stake to Skydance Media. Skydance, led by David Ellison, has proposed a merger with Paramount Global.
Their offer includes $1.5 billion to help reduce Paramount’s debt and $4.5 billion to buy out nonvoting shares.
This proposal aims to strengthen Paramount’s financial position while facilitating Skydance’s strategic expansion in the media industry.
Potential impacts on Paramount Global
Bronfman’s bid, if successful, could significantly alter the landscape of the ongoing negotiations.
The proposed acquisition by Bronfman and Bain Capital may introduce new strategic directions for Paramount Global, potentially impacting its operational and financial strategies.
The involvement of Bain Capital, a major investment firm, underscores the financial backing and serious intent behind Bronfman’s offer.
The bid’s timing and scale suggest a high-stakes contest for control over one of the entertainment industry’s most influential companies.
With Skydance Media’s existing proposal already on the table, the entry of Bronfman’s bid creates a competitive environment that could influence the final sale terms and the future of Paramount Global.
The post Breaking: Edgar Bronfman Jr. eyes National Amusements deal with Bain Capital support for $2 billion appeared first on Invezz