Byron Allen, the American media mogul (pictured below), has made a $14.3 billion (€13.2 billion) offer to buy all the outstanding shares of Paramount Global, and in the wake of taking over Paramount's debt which would amount to 15 billion dollars. "Mr. Byron Allen has submitted an offer on behalf of AMG and its strategic partners to purchase all of the outstanding shares of Paramount Global," the Allen Media Group said in a statement.
Allen will be- he the key man for Paramount?££££
In detail, the Paramount+ streaming platform, launched in March 2021, had 63 million subscribers at the end of September. Formerly called ViacomCBS, the Paramount Global media company also controls CBS, MTV, Nickelodeon, Showtime and Comedy Central, as well as the Paramount film studio. Paramount Global made $30.1 billion in revenue in 2022.
"We believe this $30 billion offer, which includes debt and equity, is the best solution for all Paramount Global shareholders, the offer should be taken seriously and pursued" , specifies Byron Allen’s group. The Bloomberg report indicates that Allen is willing to pay $28.58 per voting share and $21.53 for each non-voting security.
AMG's existing asset portfolio includes The Weather Channel as well as a number of local television stations in the United States.
