XLC - Paramount's Parent Attracts Bids from Bronfman Jr and Steven Paul | Benzinga
Paramount Global’s (NASDAQ:PARA) controlling company, National Amusements, has attracted interest from former media executive Edgar Bronfman Jr., backed by Bain Capital. The company is offering between $2 billion and $2.5 billion.
This interest comes as Shari Redstone, who controls Paramount, is negotiating to sell a majority stake in National Amusements to Skydance Media, potentially merging Paramount with Skydance.
Hollywood producer Steven Paul is also preparing a $3 billion offer for National Amusements, the Wall Street Journal reports. Paramount stock is trading lower on Monday.
The sale of NAI would result in a ...