Media executive Edgar Bronfman Jr. is drawing up a bid to takeover Paramount Global's parent company National Amusements, The Wall Street Journal reported on Thursday citing sources.
According to the sources, Bronfman, who previously acted as the head of Warner Music Group, has been holding conversations with companies and individuals who would join him and back his bid. Fortress Investment Group and Roku Inc. were named as some of the relevant parties he contacted.
Depending on the outcome of these talks, the bid could either be launched in the days to come or could fall through. Previously, reports said that Paramount accepted the merger agreement put forth by Skydance Media. However, the former has until August 21 to make its final decision.
