Edgar Bronfman Drops Paramount Bid, Musk's Russian X Investors Raise Questions About Putin and Why Amazon Rebooted ‘Ugly Betty’

Plus: Enviro group calls for probe Into 1994 RFK Jr. chainsaw incident, ESPN shakes up content division and Why entertainment execs shouldn’t overlook Gen X [Edgar Bronfman and Shari Redstone 2]( [Edgar Bronfman Jr. Drops Out of Paramount Bidding Process]( By Lucas Manfredi Edgar Bronfman Jr. has dropped out of the bidding process for Paramount, ending a months-long saga for control of the media giant. “Tonight, our bidding group informed the special committee that we will be exiting the go-shop process. It was a privilege to have the opportunity to participate,” the former Warner Music Group CEO said in a statement on Monday. [Read More]( --------------------------------------------------------------- [elon-musk-cannes-lions]( [Russian Oligarchs’ Investments in Elon Musk’s X Raise Questions About Potential Putin Connections]( By Natalie Korach Elon Musk faces questions about his ties to two Russian oligarchs after a court document revealed investors in the billionaire’s acquisition of Twitter, now X. The reveal came after a federal court forced Musk to disclose shareholders for X as part of the ongoing legal battle with former Twitter employees claiming Musk violated their arbitration agreements by withholding certain payments after he bought the social media platform for $44 billion. Disgraced hip-hop mogul Sean “Diddy” Combs and Silicon Valley investors including Larry Ellison, Marc Andreessen and Bill Ackman were also named as early investors in the acquisition. [Read More]( --------------------------------------------------------------- [betty-la-fea-image-christopher-smith-thewrap]( [Why Amazon Rebooted the 'Ugly Betty' Telenovela for a Global, Spanish-Speaking Audience | Exclusive]( By Jose Alejandro Bastidas Reboots are a dime a dozen in Hollywood. But with the smashing success of Prime Video’s “Betty La Fea: The Story Continues,” better known in the U.S. by its English version “Ugly Betty,” Amazon found untapped enthusiasm for beloved Latin American IP over 20 years after it first aired, underlining the benefit of international expansion in the midst of the streaming wars. Created by Fernando Gaitán for the Colombian network RCN, “Yo soy Betty, la fea” followed the adventures of Beatriz Pinzón Solano (Ana María Orozco), a secretary with braces, bad bangs and an even worse wardrobe, who falls in love with her playboy boss Armando Mendoza (Jorge Enrique Abello). The show followed Betty’s transformation from an eager assistant helping her supervisor hide financial wrongdoing, into a confident and beautiful executive who takes over as president of the clothing manufacturing company where she works — while her playboy reformed into a doting husband. [Read More]( --------------------------------------------------------------- [Robert F. Kennedy Jr,]( [RFK Jr. and the Whale: Environmental Group Calls for Federal Investigation Into 1994 Chainsaw Incident]( [ESPN logo (Photo credit: Getty Images)]( [ESPN Restructures Content Division, Elevates Mike McQuade to Sports Production EVP]( [generation-x-man-and-woman]( [The Forgotten Generation: Why Entertainment Execs Shouldn’t Overlook Gen X in the Streaming Evolution | Analysis]( [glen-powell-the-running-man]( [Glen Powell-Led 'Running Man' Sets November Production Start at Paramount | Exclusive]( --------------------------------------------------------------- [WrapPRO logo] Discover why entertainment executives and professionals rely on the WrapPRO platform daily for exclusive coverage, analysis, deeper reporting, and access to VIP events & screenings throughout the year. [Subscribe Today]( --------------------------------------------------------------- [Facebook]( [Twitter]( [Instagram]( [YouTube]( TheWrap | 2034 Armacost Ave Los Angeles, CA 90025 [Preferences]( | [Unsubscribe]( [LiveIntent Logo]( [AdChoices Logo](