Seagram heir Edgar Bronfman Jr. is close to making a bid for National Amusements Inc. that would rival an acceptable offer from Skydance Media Inc., Bloomberg News reported Thursday, citing people familiar with the plans.
The former Warner Music chief had expressed interest in buying National Amusements, Paramount’s controlling shareholder, in June and was prepared to make an offer between $2 billion and $2.5 billion.
Bronfman Jr. is also considering investing in Paramount itself, Bloomberg reported, adding that work on the structure is still ongoing.
David Ellison’s Skydance Media reached an agreement last month to acquire Paramount, one of Hollywood’s oldest studios, which included a 45-day grace period to find a better offer.
National Amusements and Paramount did not immediately respond to Reuters requests for comment. Edgar Bronfman Jr. could not immediately be reached for comment.