During the Milken Institute Global Conference in Beverly Hills, California, on May 2, 2022, Byron Allen, the founder, chairman, and CEO of the Allen Media Group, expressed his intention to acquire Paramount Global for $14 billion. Despite doubts about his ability to close the deal, Allen assured CNBC that he has the necessary capital to make it happen.
With a media group that owns numerous television networks across the U.S., Allen offered $30 billion for all of Paramount’s outstanding shares, including debt and equity. The Allen Media Group emphasized that their bid is the best solution for all Paramount Global shareholders and should be taken seriously.
Although Allen has a history of making offers on major media assets, he remains confident in his ability to secure the deal, stating that the real challenge lies in the certainty of closing the deal, which is dependent on the Federal Communications Commission.
For more information, you can read the full article from CNBC.
Source: www.cnbc.com
Date: 2024-01-31 16:38:13