Allen Media Group, led by media magnate Byron Allen, has presented a substantial $30 billion bid for Paramount Global. This offer includes both debt and equity, according to an announcement made by Allen Media Group on Wednesday.
Paramount, the well-known film studio, has chosen not to comment on the bid at this time.
The company clarified that the bid was submitted by Mr. Byron Allen on behalf of Allen Media Group and its strategic partners to purchase all of Paramount Global's outstanding shares. They strongly believe that this $30 billion proposal, which encompasses both debt and equity, represents the optimal solution for Paramount Global shareholders. As such, they urge the bid to be taken seriously and pursued.
In addition to the film studio, Paramount also possesses various other assets, including television channels, a streaming service, and a real-estate investment trust.
Skydance Media CEO David Ellison has previously expressed interest in acquiring Paramount's parent company, National Amusements, with the assistance of other investors. The Wall Street Journal reported that if successful, the Ellison-led group plans to merge Paramount Global with Skydance.
It is worth noting that Shari Redstone, who controls Paramount Global through her family's ownership, has demonstrated openness to offers for the company in the past.
