Edgar Bronfman Jr. is open to having Shari Redstone remain involved at Paramount if the special committee accepts his consortium’s bid for a controlling…
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.
One of the individuals who is part of Bronfman's bid is former AOL CEO Jon Miller. Miller and Redstone run Advancit Capital, a small venture capital firm that invests in media and technology.Bronfman is open to having Redstone, currently non-executive chairman at Paramount, remain involved with the company if the Paramount special committee accepts his consortium's bid for National Amusements, the controlling shareholder, according to a person familiar with the matter.
It's not clear if Redstone prefers one offer over the other. The Paramount Global special committee will determine if Bronfman's offer is a superior proposal for shareholders by Aug. 28. If the committee decides Bronfman's offer is better, Skydance will then have four business days to match. The deadline for the entire process to be concluded is Sept. 5.
Miller, Redstone and Redstone's son-in-law, Jason Ostheimer, together run Advancit Capital, a small venture capital firm that invests in media and technology. The trio are the only three people that appear onMiller has also operated as a de facto strategic advisor to Redstone for many years, according to people familiar with the matter.
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