Shares down more than 4% premarket (Il Sole 24 Ore Radiocor) - New York, 27 Aug - Shares in Paramount jumped in premarket trade after Edgar Bronfman pulled his bid for the studio, paving the way for the group's previously announced merger with Skydance.

Bronfman had made a 4 billion dollar bid, which had reportedly been sweetened to 6 billion.

Paramount had agreed to an 8 billion dollar bid from Skydance Media under which Skydance will pay 2.4 billion dollars to acquire National Amusements, a holding company which owns 80% of indebted Paramount.

At 1314 GMT shares in Paramount were down 4.2%.

AAA-Sje

(RADIOCOR) 27-08-24 15:23:15 (0374) 5 NNNN