Could Paramount’s flirtation with Bronfman strain the Skydance deal?
LA TimesJust when the $8.4-billion deal for David Ellison’s Skydance Media to buy Paramount Global was gliding toward the finish line, Shari Redstone’s roller-coaster sale took another sharp turn. Seagram liquor company heir Edgar Bronfman Jr. this week persuaded Paramount’s independent board members to consider his rival bid for the Redstone family’s investment firm, National Amusements Inc., and a minority stake in Paramount. Skydance co-owns some of the Paramount studio’s biggest blockbusters, including “Mission: Impossible,” “Top Gun: Maverick” and “Star Trek.” Ellison’s company also has been building an animation studio under John Lasseter, former Pixar creative executive. Bronfman’s group would take over the Redstone family’s National Amusements, which holds the voting stake in the media company that also owns CBS, MTV and the Paramount studio.