US EditionAllen Media Group Makes $14.3 Billion Offer for Paramount Global
- Media mogul Byron Allen has made a $14.3 billion offer to purchase all outstanding shares of Paramount Global, including debt and equity.
- Allen's plan involves selling off the Paramount film studio, real estate, and some intellectual property while retaining the TV channels and running them more cost-efficiently. He has secured backing from banks and other investors.
- Paramount, owned by the Redstone family, has been the subject of acquisition discussions due to declining operating income. Other entertainment giants have also faced losses from streaming services, leading to cost-cutting measures.
23 Articles
23 Articles
Byron Allen offers to buy Paramount Global for $14 billion
Medial mogul Byron Allen is making another bid to buy Paramount Global after an effort to acquire the conglomerate last year failed to gain traction.Allen Media Group offered $14.3 billion to purchase Paramount Global, the Wall Street Journal reported citing people familiar with the matter. According to a copy of the offer letter reviewed by the outlet, the group’s offer is $28.58 for each voting share of the company’s stock and $21.53 per nonvo…
Paramount Global Stock Rallies as Byron Allen Presents $30 Billion Takeover Proposal
Investor excitement peaked as media mogul Byron Allen unexpectedly entered Paramount Global’s merger and acquisition narrative. The sudden bid from Allen’s Allen Media Group sparked a significant uptick in Paramount Global’s stock, with shares climbing more than 13% during early trading on Wednesday. Allen Media Group made headlines with an unsolicited $30 billion acquisition offer for Paramount Global, driving the stock to over $15 per share, a…
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