Edgar Bronfman Jr. Prepares Bid for Paramount and National Amusements Amid Skydance Merger, Shares Rise 7%

Edgar Bronfman Jr., former Warner Music Chairman and Seagram heir, is reportedly preparing a bid for Paramount Global and its controlling shareholder, National Amusements. This potential offer comes as Paramount has already agreed to merge with Skydance Media. Bronfman is in discussions with potential backers, including Fortress, Roku, and Hollywood producer Steven Paul, to support his bid. This move could potentially set off a bidding war for Paramount, which owns CBS and MTV. Paramount's shares have risen by 7% amid the news of Bronfman's interest.