Byron Allen’s latest takeover attempt: Paramount for $14 billion
10 months, 3 weeks ago

Byron Allen’s latest takeover attempt: Paramount for $14 billion

LA Times  

Media mogul Byron Allen has extended yet another multibillion-dollar takeover offer — this time, a $14.3-billion bid to buy all of the outstanding shares of Paramount Global. Scripps Co. television stations and made a $10-billion offer to Walt Disney Co. last year to buy its ABC TV network, local stations, as well as the FX and National Geographic cable channels. “This $30 billion offer, which includes debt and equity, is the best solution for all of the Paramount Global shareholders, and the bid should be taken seriously and pursued,” Allen’s company said in the statement. Last year, Allen bid for Paramount’s BET and VH1 channels, reiterating his $3.5-billion offer just last month in an email to the board.

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History of this topic

Bronfman ups bid for control of Paramount to $6 billion
4 months ago

Bronfman ups bid for control of Paramount to $6 billion

LA Times  

Edgar Bronfman Jr. is leading an effort to buy Paramount Global, which already has a tentative deal with tech scion David Ellison. Former Seagram and Warner Music executive Edgar Bronfman Jr. continued his 11th-hour pursuit of Paramount Global, increasing his offer to $6 billion for the Redstone family’s investment firm and the historic studio, according to two people close to …

Paramount drama heightens as Edgar Bronfman Jr. submits bid
4 months ago

Paramount drama heightens as Edgar Bronfman Jr. submits bid

LA Times  

Bronfman’s offer comes a month after Shari Redstone and Paramount’s other board members approved an offer by David Ellison’s Skydance Media to buy Paramount in a multipronged transaction valued at $8.4 billion. The offer comes a month after Shari Redstone and Paramount’s other board members approved a bid from tech scion David Ellison’s Skydance Media to buy Paramount in a …

David Ellison is taking control of Paramount. Now the real work begins
5 months, 2 weeks ago

David Ellison is taking control of Paramount. Now the real work begins

LA Times  

Tech scion David Ellison faces a number of challenges to turn Paramount Global around now that he’s clinched control of the media company. The Skydance Media chief executive first made overtures last summer to Paramount’s nonexecutive chair, Shari Redstone, then spent months negotiating and renegotiating a deal acceptable to Redstone, Paramount’s board and the company’s shareholders. Last year, Paramount’s TV …

Byron Allen’s Allen Media Group facing layoffs across all divisions of the company
7 months, 3 weeks ago

Byron Allen’s Allen Media Group facing layoffs across all divisions of the company

LA Times  

Allen Media Group, the company owned by TV mogul Byron Allen, is set to undergo a significant round of layoffs that will affect all divisions of the business. “Allen Media Group is making strategic changes to better position the company for growth that will result in expense and workforce reductions across all divisions of the company,” a spokesperson said Thursday …

Bob Bakish is ousted as CEO of Paramount Global as internal struggles explode into public view
7 months, 3 weeks ago

Bob Bakish is ousted as CEO of Paramount Global as internal struggles explode into public view

LA Times  

Paramount Global’s months-long internal struggles spilled into full view Monday as Chief Executive Bob Bakish was ousted and pressure mounted for the company’s directors to accept — or reject — a takeover bid by David Ellison’s Skydance Media. But the dramatic removal evokes a feeling of rearranging deck chairs on the Titanic.” Less than two minutes after Paramount announced Bakish’s …

Suitors are wooing Paramount
10 months ago

Suitors are wooing Paramount

Hindustan Times  

From “GREASE” to “Breakfast at Tiffany’s”, Paramount Pictures has produced plenty of good romances during its 112-year history. The wooing of Paramount Global, the studio’s parent company, has begun because Shari Redstone, president of National Amusements, which has a controlling stake in the firm, appears ready to sell. Paramount Global today comprises the film studio, the Paramount+ streaming service and …

Paramount Global is for sale. Who’s buying and how did we get here?
10 months, 3 weeks ago

Paramount Global is for sale. Who’s buying and how did we get here?

LA Times  

A for-sale sign has appeared on the lawn of Paramount Global, home of one of the most storied movie studios in Hollywood, popular television network CBS, and several other legacy brands and franchises. “But it would clearly not help in terms of getting back to the peak levels that we saw pre-COVID.” Hollywood Inc. David Ellison’s Skydance explores possible merger …

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