Weeks after Australia’s Network10 and Paramount+ owner, Paramount Global, announced a merger deal with the David Ellison-owned Skydance Media, one suitor isn’t backing down on plans to counter Skydance’s offer.

Ex-Warner Music chairman, Edgar Bronfman Jr., is reported by Axios to be in talks with bankers about a potential bid for Paramount Global’s parent, National Amusements.

Bronfman is looking to exploit to exploit a 45-day “go shop” window in the proposed Skydance-Paramount deal that allows Paramount to find a better offer.

If Paramount receives another offer, which Skydance doesn’t match, it would pay a A$611.82 million break-up fee.

Bronfman is reported to be considering offering between A$3.06 billion and A$3.82 billion for National Amusements, the company that holds the Redstone family’s controlling stake in Paramount.

While a spokesperson for Bronfman told Reuters that he is currently considering his options, Paramount declined comment.

Under the Skydance deal, Skydance and its partners would acquire National Amusements for A$3.67 billion in cash.

Skydance would subsequently merge with Paramount, offering A$6.88 billion in cash or stock to shareholders and providing an additional A$2.29 billion for Paramount’s balance sheet.

As ChannelNews recently reported, the deal is already being litigated. A lawsuit filed by Scott Baker in Delaware’s Chancery Court last week claims that the deal will cost shareholders A$2.52 billion. It further claims that the merger’s primary purpose is to cash out media mogul Paramount Chair Shari Redstone’s investment in Paramount at a substantial premium, and contends that other investors will receive a significantly lower payout.