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Seagram heir makes bid for Paramount

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Seagram heir Edgar Bronfman Jr. has reportedly made an offer to buy Paramount Global.

The bid comes amid a “go-shop” period in Paramount's proposed deal with Skydance Media.

Skydance, founded by Larry Ellison of Oracle, is looking at a $400 million breakup fee if it does not complete the Paramount deal.

Read more from Quartz.

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