Edgar Bronfman interested in buying Paramount parent, WSJ reports

Backed by Bain Capital, Edgar Bronfman Jr., who formerly ran Warner Music and Seagram, has expressed interest in buying Shari Redstone’s National Amusements, the company that controls Paramount Global (PARA), for between $2B and $2.5B, Lauren Thomas, Jessica Toonkel and Jeffrey Trachtenberg of Wall Street Journal report, citing people familiar with the situation. Redstone is in advanced negotiations to sell a majority stake of National Amusements to Skydance Media, the Journal points out. Hollywood producer Steven Paul has been lining up financing to make an offer for National Amusements of around $3B, the Journal previously reported. It is unclear how seriously the Redstone family will entertain other offers for National Amusements while negotiations with Skydance continue, the journalists note. Shares of Paramount are down 14c to $11.87 in late morning trading.