Edgar Bronfman Jr. Bids On Paramount Global, Aims To Usurp Skydance Agreement

Media executive Edgar Bronfman Jr. wants back in the game.

The former vice-chairman of Vivendi Universal, the Seagram’s heir claims he has has secured financing commitments of about $5 billion from Fortress Investment Group; BC Partners Credit, crypto investor and former child actor Brock Pierce; longtime activist investor Jeff Ubben and his wife, Laura Ubben; and Duty Free Americas Chairman Simon Falic, according to the Wall St. Journal.

The offer continues a wild bidding war for Paramount, which owns CBS, cable networks Comedy Central and Nickelodeon, the Paramount+ streaming service, and its namesake movie studio.

The inside track aims to scuttle an agreement with David Ellison’s production company Skydance Media.

Bronfman has submitted a $4.3 billion offer for National Amusements, the company through which Redstone’s family controls the media giant, and a minority stake in Paramount Global, according to the WSJ.

During his Vivendi Universal reign, the company wholly or partially owned such assets as NBCUni, Activuversal, Universal Music Group, and Activision Blizzard,

 

Send US Your Stories