02:29 PM EDT, 08/15/2024 (MT Newswires) -- (Updates with additional details, Edgar Bronfman's response and latest stock movement in the last two paragraphs.)

Edgar Bronfman Jr. is close to making an offer for Paramount Global ( PARAA ) , Bloomberg reported Thursday, citing people familiar with the matter.

The Seagram heir is mulling an offer for National Amusements, the Redstone family's company that controls Paramount, as well as an investment in Paramount itself, the report said.

The details for the offer are still being finalized, the people were quoted as saying. Paramount and Bronfman declined to comment.

Paramount shares were up nearly 7% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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