Bronfman raises bid for National Amusements, Paramount stake to $6 billion, WSJ reports By Reuters

(Reuters) – Veteran media executive Edgar Bronfman Jr sweetened his offer to $6 billion for National Amusements and a minority stake in Paramount Global, people familiar with the matter told the Wall Street Journal on Wednesday.

He had previously offered $4.3 billion, according to Reuters sources.

Bronfman’s new bid includes $1.7 billion for a tender offer that would give non-Redstone, non-voting Paramount shareholders an option to cash out at a premium of $16 a share, the report said.

Shares of Paramount were up 1.9% in extended trading.