Edgar Bronfman submits rival bid to acquire Paramount Global

By Dawn Chmielewski

(Reuters) – Veteran media executive Edgar Bronfman Jr. submitted a bid on Monday to acquire a stake in Paramount Global and National Amusements, the Redstone family company that controls the entertainment giant, a person familiar with the matter told Reuters.

The competing offer for the home of Paramount Pictures, the CBS broadcast network and MTV is a fresh twist in a sale process marked by a number of unexpected turns.

Terms of the offer could not immediately be learned.