Paramount Likely to Extend ‘Go Shop’ Period If Bronfman Bids

Paramount Global, which has agreed to merge with David Ellison’s Skydance Media, is likely to extend a deadline for rival takeover bids if Edgar Bronfman Jr. makes an offer for the company before Wednesday night, people with knowledge of the matter said.

Bronfman, a longtime media investor, is expected to make an offer for Paramount, the parent of CBS and MTV, in the next 24 hours, according to one of the people, who wasn’t authorized to speak publicly and asked not to be identified.