Major Moves: Byron Allen Makes $30 Billion Bid for Paramount Global In Debt & Equity

BY: Denver Sean

Published 10 months ago

Byron Allen,  media mogul and owner of The Weather Channel, had made a $30 billion offer for the debt and equity of Paramount Global.

via Deadline:

The official word from Allen Media Group: “Mr. Byron Allen did submit a bid on behalf of Allen Media Group and its strategic partners to purchase all of Paramount Global’s outstanding shares. We believe this $30 billion offer, which includes debt and equity, is the best solution for all of the Paramount Global shareholders, and the bid should be taken seriously and pursued.”

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Bloomberg first had the news about Allen’s bid.

All of this noise comes as the media postures that Ellison’s Skydance is making a play for Shari Redstone’s stake in National Amusements, the trojan horse into owning Paramount Global. Despite all the headlines about “inching” toward a deal, there’s no there yet we keep hearing.

But wait, did the former host of NBC’s Real People make a $3.5 billion bid for Paramount Global’s BET and VH1? An insider says that deal clearly hasn’t gone through yet.

That’s a major move!

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