"Byron Allen's $14.3 Billion Bid Sends Paramount Global Stock Soaring"

Byron Allen has offered a $30 billion deal to acquire Paramount Global, causing the company's shares to surge. The media mogul's bid includes debt and equity and is aimed at taking over the Shari Redstone-controlled company, amidst ongoing M&A chatter. Allen is interested in Paramount's television assets and Paramount+, while David Ellison is mainly eyeing the studio. Paramount CEO Bob Bakish acknowledged rival companies showing interest, emphasizing the need to focus on execution amid the speculation. Allen's offer includes assuming Paramount's $15 billion debt load, bringing the total deal value to $30 billion.