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Paramount Global shares rocketed Wednesday after a report that Byron Allen’s media group is offering to buy the company.
Citing a statement, Bloomberg News reported that Allen Media Group, as well as unnamed partners, are making a bid valued at $14 billion, or $30 billion when including assumed debt.
Speculation had been that David Ellison’s Skydance Media was trying to buy the company.
Paramount Global’s B
PARA,
class of shares soared 24% in premarket trade, as the A class
PARAA,
gained 22%.
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