Bronfman's Paramount bid could keep Shari Redstone involved, CNBC reports

(Reuters) -Edgar Bronfman Jr. is open to having Shari Redstone remain involved with Paramount Global if its special committee accepts his consortium's bid for National Amusements, the controlling shareholder, CNBC reported on Friday.

On Wednesday, the veteran media executive sweetened his bid to take over Paramount offering $6 billion for National Amusements and a minority stake in the media conglomerate.

Bronfman's competing offer threatens to undo a planned acquisition by tech scion David Ellison and his independent studio Skydance Media.



If Paramount, controlled by Redstone's family business, accepts an offer that Skydance does not match, it would have to cough up a $400 million in break-up fee.

Paramount and its special board committee declined to comment, while National Amusements and a spokesperson for Bronfman did not immediately respond.

Source: Investing.com