A week after proposing a $4.3 billion deal to acquire Paramount Global, Canadian media exec Edgar Bronfman Jr. has dropped his bid, making way for the company’s previously announced merger with Skydance to move forward.
“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 on Monday.
