Edgar Bronfman submits rival bid to acquire Paramount Global

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 adds a fresh twist to the sale process, which has been marked by a number of unexpected turns.