Paramount Global Closes Door on ‘Go-Shop’ Period as Edgar Bronfman Jr. Drops Last-Minute Bid for Studio
By Cynthia Littleton
According To The variety Edgar Bronfman Jr. has abruptly dropped his eleventh-hour bid for Paramount Global. The decision came as the clock ticked down on the time frame within which his group had to finalize a firm offer that could be a viable alternative to Skydance Media’s pending takeover agreement.
Late Monday, Paramount Global’s special committee handling its long M&A process issued a statement closing the door on the company’s “go-shop” period and expressing its intent to move forward with the Skydance Media deal. The committee noted in a statement that “contacted more than 50 third parties” to see if there was interest in bidding for the storied owner of Paramount Pictures, CBS, MTV, Nickelodeon, BET, VH1, Comedy Central and more.
“On behalf o...






