Paramount Global has extended its evaluation period for a merger with Skydance Media, allowing it to consider a last-minute $6 billion bid from media investor Edgar Bronfman Jr. Bronfman's offer, which is $2 billion less than Skydance's, aims to simplify the acquisition process and reduce risks associated with a merger. The bid includes $2.4 billion for National Amusements, Paramount's controlling shareholder, and an additional $1.5 billion to cut the company's debt. Bronfman has secured $5.5 billion in backing from various investors, including ties to Shari Redstone, which may influence the deal's viability. Analysts are divided on the merits of each bid, with concerns about shareholder dilution and the complexity of the Skydance merger. The outcome of these negotiations is anticipated soon as the evaluation period concludes.