Edgar Bronfman Jr. eyes over $2 billion bid for Paramount owner, WSJ reports

By Thomson Reuters Jun 10, 2024 | 10:47 AM

(Reuters) -Former media executive Edgar Bronfman Jr., backed by private equity firm Bain Capital, has expressed interest in buying Paramount’s controlling shareholder National Amusements, the Wall Street Journal reported on Monday.

Bronfman is looking to offer between $2 billion and $2.5 billion for Shari Redstone’s company, the report added, citing sources familiar with the situation.

National Amusements did not immediately respond to a Reuters request for comment, while Bain Capital declined to comment.

Skydance Media’s CEO David Ellison reduced an initial $2.5 billion bid for National Amusements to provide additional cash for Paramount’s non-voting shareholders, Reuters reported last week.

Hollywood producer Steven Paul, CEO of Crystal Sky Pictures, has also been lining up to make an offer for National Amusements for around $3 billion, WSJ reported last month.

(Reporting by Zaheer Kachwala in Bengaluru; Editing by Devika Syamnath)