Edgar Bronfman Jr. Boosts #Paramount Bid to $6 Billion, Board Extends Deal-Negotiation Period #News

In a strategic move that has captured the attention of the media industry, Edgar Bronfman Jr. and his consortium of investors have increased their bid to acquire Paramount Global to $6 billion. This new offer, which marks a significant rise from the initial $4.3 billion proposal, has prompted Paramount's board to extend the go-shop window by 15 days to further evaluate the deal. The enhanced bid aims to acquire National Amusements Inc. (NAI), Paramount's controlling shareholder, and includes a compelling sweetener: a $1.7 billion pool to provide Paramount’s nonvoting shareholders with a $16/share buyout premium for a portion of their stock. This move has momentarily put the existing deal with David Ellison’s Skydance Media on hold, as the Paramount board considers the merits of the Bronfman-led consortium’s proposal. Paramount’s Board Weighs Its Options In a statement released on Wednesday, Paramount’s board confirmed the receipt of Bronfman’s updated acquisition p