The conglomerate that has been the subject of several takeover or merger speculation in recent months.
Allen Media Groupan American media group founded by businessman and comedian Byron Allenannounced that it made an offer for Paramount Globalthe conglomerate that has been the subject of several takeover or merger speculation in recent months.
According to specialized North American media, the offer from Allen Media Group (AMG) includes $14.3 billion to buy all of Paramount’s outstanding shares and the absorption of the company’s approximately $15 billion in debt.
“Mr. Byron Allen submitted an offer on behalf of Allen Media Group and its strategic partners to purchase all of the outstanding shares of Paramount Global,” they said in a statement. “We believe that this $30 billion offer, which includes debt and equity, is the best solution for all Paramount Global shareholders, and that it should be taken seriously and accepted,” they added.
The AMG owns El Canal del clima, numerous local TV stations, The Grio network and website, and many other media businesses. The mogul, who began his career as a stand-up comedian, had already been around Paramount’s assets in the past: in March 2023 he was among several businessmen who explored the purchase of BET, the most important network aimed at African-American audiences in the United States. Joined.
Paramount’s present
The difficulties of scaling within the streaming business with your platform Paramount+which lagged far behind the main players in the sector led by Netflixas well as the decline in linear television audiences, have put Paramount Global at the center of sale rumors.
According to the journalism that reports on the movements of Wall Street, its president and main shareholder, Shari Redstone, is interested in selling. Among the most commented conjectures is the one that reported a meeting between the CEO of Paramount Global, Bob Bakish, and that of Warner Bros. Discovery, David Zaslavto explore a possible merger.
However, for now there has been no progress on that front. Several of Paramount Global’s assets are very tempting: its portfolio includes the Paramount Pictures film studio, the Paramount+ streaming platform, the Showtime premium service, the CBS network, cable channels such as Nickelodeon, MTV, VH1, Comedy Central and BET, and strong channels in other countries, such as Channel 5 in the United Kingdom and Telefe in Argentina.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
