Paramount Global Class B Stock News

Veteran media executive Edgar Bronfman Jr. has submitted a roughly $4.3 billion bid to take over Paramount Global through the acquisition of National Amusements, the family holding company that owns a controlling stake in the media company, a person familiar with the matter told Reuters.

Bronfman's group said they would pay non-Redstone A-Class shareholders $24.53 a share — more than what's envisioned in the Skydance deal.

Investors backing Edgar Bronfman's bid for Paramount Global include producer Steven Paul and John Paul Dejoria, who months ago had been working on their own offer, as well as child actor turned crypto king Brock Pierce, and Nurali Aliyev, a Kazakh businessman and grandson of the former president of Kazakhstan.

Veteran media executive's bid would scupper Hollywood media empire's planned merger with Skydance Media

It's a battle of the billionaire scions for the wavering Paramount media empire, with gin heir Edgar Bronfman Jr. reportedly throwing in his own multibillion-dollar bid for media heiress Shari Redstone's stake in the CBS parent company, competing with an agreed-upon offer from David Ellison, the son of tech billionaire and the world's fifth-richest person, Larry Ellison.

Media executive Edgar Bronfman Jr. has reportedly submitted a formal $4.3 billion bid for National Amusements, the controlling shareholder of Paramount Global (PARA), after Skydance Media struck a deal for Shari Redstone's media empire last month.

Edgar Bronfman's bid for the entertainment giant is a winner for investors—but not for Shari Redstone.

Paramount Global's stock was up 1.3% premarket Tuesday, after a report that media executive Edgar Bronfman Jr. has submitted a $4.3 billion offer for National Amusements in an attempt to upend a previous agreement to merge it with David Ellison's Skydance Media.