Edgar Bronfman Jr. has walked away from bidding for Paramount Global, ending his $6 billion proposal and paving the way for Shari Redstone's media empire to be sold to David Ellison's Skydance Media.

Edgar Bronfman Jr. has walked away from bidding for Paramount Global, ending his $6 billion proposal and paving the way for Shari Redstone’s media empire to be sold to David Ellison’s Skydance Media.