In the latest turn in the Paramount Global sale process, Edgar Bronfman Jr. has withdrawn his bid to buy the film and TV studio, reports The Hollywood Reporter . “Tonight, our bidding group informed the special committee that we will be exiting the go-shop process.
It was a privilege to have the opportunity to participate,” Bronfman said in a statement to The Hollywood Reporter . “We continue to believe that Paramount Global is an extraordinary company, with an unrivalled collection of marquee brands, assets and people.” Bronfman added, “While there may have been differences, we believe that everyone involved in the sale process is united in the belief that Paramount’s best days are ahead.
We congratulate the Skydance team and thank the special committee and the Redstone family for their engagement during the go-shop process.” With Bronfman, heir to the Seagram’s liquor family fortune and former Warner Music Group chief, out of the picture, the dust has settled for Skydance to move forward with its deal for Paramount. [Read more] See also: Paramount Board Special Committee Confirms Skydance Merger Will Close In First Half Of 2025, Says “Go-Shop” Period Has “Concluded” (Deadline) A voluntary recycling scheme administered by a consortium of the nation’s news media organisations has been officially accredited by the Albanese government after it resulted in nearly 100 per cent of newspapers being diverted from landfill, reports The Australian’s Joe Kel.