Paramount (PARA, PARAA) is in demand. Just before closing a deal with Skydance Media, the company opted to review an offer from billionaire Edgar Bronfman Jr.

Third Bridge Group sector analyst Jamie Lumley explains that Bronfman's offer does give a little more cash to average shareholders and lets the studio remain as it is. The Skydance offer, on the other hand, does include a studio integration. It also has protections for controlling stakeholder Shari Redstone.

Lumley also points out that Skydance benefits from having the Ellison family money, while Bronfman had to get many parties on board for his offer.

When it comes to Paramount selling assets, Lumley says it does help the company streamline its business. He notes the company's decision to write down its cable business for nearly $6 billion, calling it a "business in free fall, so it's trying to pivot as quickly as possible, cut costs, and really put everything into producing world-class content and focusing on streaming."

Watch the video above to hear what else Lumley has to say about what's next for Paramount.

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This post was written by Stephanie Mikulich.