Shares of Paramount -- home to movie studio Paramount Pictures, CBS, MTV and Nickelodeon -- rose 0.6%, to $11.40, in midday trading Monday, despite questions surrounding the certainty of the mogul's financing.
Edgar Bronfman Jr. wants Paramount to partner with a tech company for streaming, per Bloomberg. Bronfman entered a bidding war with Skydance over control of Paramount with a $6 billion surprise bid.
Edgar Bronfman's plans for Paramount Global include partnering with technology companies like Amazon.com or Apple to improve its streaming TV business, Bloomberg News reported on Saturday, citing people familiar with his thinking.
Edgar Bronfman Jr.fumbled his first opportunity to run a major Hollywood company. Decades later, he is looking for another shot.
Edgar Bronfman submitted a $6 billion bid for Paramount's parent this week.
Edgar Bronfman Jr. is open to having Shari Redstone stay involved at Paramount if the special committee accepts his consortium's bid for a controlling stake. Skydance's David Ellison has also held conversations with Redstone about her future with the company.
Matt Belloni, Puck founding partner, joins 'Squawk Box' to discuss the state of play for Paramount, whether Edgar Bronfman's $6 billion bid for National Amusement and a stake in Paramount should be taken seriously, and more.
The saga for control of Paramount Global (PARA) continues, with Skydance Media reportedly demanding that the entertainment giant stop negotiating with Edgar Bronfman Jr.
David Ellison's Skydance Media is firing back at Paramount Global, accusing a special committee at the media and entertainment giant of violating the merger deal the two companies struck last month after Paramount said it would allow more time for talks with another interested buyer, according to a report on Thursday.
Bronfman Jr. sweetened his bid to take over Paramount offering $6 billion for its controlling shareholder National Amusements and a minority stake in Paramount.
Skydance Media is urging Paramount Global to stop considering a proposal by an investor group led by Edgar Bronfman Jr. to buy control of the company, threatening to withdraw its own offer unless it does.
Skydance Media is accusing Paramount Global's special committee of directors of breaching the terms of its deal by extending the period of time when it can engage with other bidders, the Wall Street Journal reported on Thursday.