2024-08-22 09:46:00
(Reuters) – Veteran media executive Edgar Bronfman Jr. has raised his offer for Paramount Worldwide, offering $6 billion for controlling shareholder National Amusements and a minority stake in Paramount.
According to Reuters, Bronfman’s initial offer was $4.3 billion.
Competing bids for the home of Paramount Pictures, the CBS broadcast network and cable networks like MTV could derail acquisition plans by tech mogul David Ellison and his company, Skydance Media.
Paramount and Skydance Media signed a merger agreement in early July. The agreement includes a 45-day “shop and buy” period to consider other offers. A special board committee has extended the Bronfman group’s Wednesday deadline to Sept. 5.
The following are the key events of the acquisition:
Year Events
In December, CBS Corporation (NYSE: ) merged with Viacom to form ViacomCBS (NASDAQ: ),
In 2019, the media division of merger tycoon Sumner Redstone
13 years later, ViacomCBS acquired
BeIN acquires 49% stake in Miramax Films
Media Group acquires 375 million USD
In September, ViacomCBS renamed its CBS streaming service
Paramount+ in 2020 and launching internationally
Market. Selling CNET Media Group to Redmond
$500 million in venture capital
November ViacomCBS agrees to sell CBS Studio Center to
Private companies raised $1.85 billion in 2021
February ViacomCBS changed its name to Paramount
2022 Global
December Chief Executive Officer, Warner Bros. Discovery Inc. (NASDAQ:)
Reportedly in talks with Paramount for 2023
Potential transactions between companies
Skydance CEO David Ellison reportedly
Exploring all-cash acquisition of Paramount in 2024
Parents, National Entertainment
January Media entrepreneur Byron Allen donated $30
2024 offer for Paramount, including debt
and fairness
In March, India’s Reliance Industries agreed to acquire
Paramount’s entire 13.01% stake in the local market in 2024
Entertainment Network Viacom18 Media
Approximately US$517 million
Apollo Global Management (NYSE: Apollo) reportedly proposed
Acquire Paramount Pictures movie studio for $11 in 2024
Billion
Paramount’s board of directors reportedly agreed
Exclusive merger talks with Skydance in 2024
In April, Paramount replaced CEO Bob Bakish with
The 2024 Office of the CEO will be headed by the President of CBS and
Paramount Pictures CEO George Cheeks
CEO Brian Robbins and Chris McCarthy
Showtime, MTV and other TV networks
June 2024 Edgar Bronfman, former chairman of Warner Bros.
Music reportedly expresses
Acquired National Amusements and Paramount
Controlling Shareholder
June 2024 Sumner’s Daughter and National Entertainment
President Sally Redstone abruptly ends negotiations
Partnering with Skydance
Barry Diller’s Digital Media Group, July 2024
IAC reportedly considering buying Paramount
And sign a confidentiality agreement
National Entertainment
According to reports, by July 2024, the country’s entertainment activities will reach
A preliminary agreement to sell its controlling stake
Paramount’s interest in Skydance
Skydance Media and Paramount agree to merge in July 2024
Through a two-step process, shareholders are provided
$4.5 billion in cash or stock
In August, Paramount said it had written down its
Cable TV networks to lose nearly $6 billion in revenue by 2024
Will cut 15% of US staff
In August, Edgar Bronfman Jr. filed a $4.3 million
Bid $1 billion to acquire Paramount Worldwide in 2024
Through the acquisition of National
Edgar Bronfman Jr. has become sweet
In 2024, he proposed to buy the country for $6 billion
Entertainment and a minority stake in Paramount
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#Paramount #takeover #race #heats #Edgar #Bronfman #bid #Reuters
