New York, January 31, 2024, The Europe Today: Media entrepreneur Byron Allen, through his company Allen Media Group, has officially proposed a $30 billion deal for Paramount Global, encompassing both debt and equity. The offer was confirmed in a statement provided to media on Tuesday.
Initially reported by Bloomberg News, Allen’s bid amounted to $14.3 billion, intending to acquire all outstanding shares of Paramount Global. The terms of the offer were disclosed by individuals familiar with the matter. Paramount Global has refrained from commenting on the proposal.
Byron Allen, known for his prominence in the media industry, has strategically positioned Allen Media Group as a key player. The proposed deal signifies Allen’s ambition to make a significant impact in the media and entertainment landscape.
As the situation develops, stakeholders and industry observers await further details and responses from Paramount Global regarding the substantial offer presented by Byron Allen and Allen Media Group.
