Paramount Global Shares Pop After Byron Allen Makes Offer To Buy Company

Shares of Paramount Global popped higher after news that Allen Media Group's Byron Allen has offered to buy the company in a deal worth $30 billion.

January 31, 2024 · 1 min · 80 words · Connor Mann

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The stock is up nearly 8% at $14.78 in a mostly down market.

Rumor speculation has nudged the shares up from a 52-week low of $10.

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Allen is said to be interested in the television assets and Paramount+.

Byron Allen delivers keynote at Harvard Business School’s H. Naylor Fitzhugh Conference

Byron Allen at Harvard Business SchoolEd Marshall Photography for Gravy/AMG

Ellison mainly wants the studio.

Amid all this change, its no surprise that Paramount remains a topic of speculation.

Were a storied public company in a closely followed industry.