Paramount, one of the largest media businesses in the United States, is rumored for sale or merger.
The sale would occur when the primary owner of Paramount sold their portion. Many firms are apparently gearing up to buy a majority stake in Paramount or merge with it, including the following:
Warner Bros. Discovery
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According to sources from December 2023, Warner Bros. Discovery CEO David Zaslav met with Paramount Global CO Bob Bakish in New York to discuss a potential merger. The meeting lasted many hours and took place at Paramount’s offices in Times Square.
According to reports, one of the issues explored was the merger of Paramount+ and Max into a single streaming service. CBS News would unite with CNN. CBS Sports would also collaborate with Warner Bros. Discovery on sports. This would unite all of the March Madness games under one ownership.
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It is unclear whether Warner Bros. Discovery will acquire Paramount or if this is a merger. It’s still uncertain who will run the newly amalgamated corporation.
Allen Media Group
Byron Allen, who made news last year with his unsolicited proposal to buy key assets from Walt Disney, is back with a $30 billion deal to buy Paramount Global, Allen Media Group confirmed to Cord Cutters News.
Allen, whose Allen Media Group includes The Weather Channel, LocalNow, and more than two dozen local affiliate networks, is offering $28.58 per voting share of Paramount, more than doubling its Tuesday closing price of $13.68, according to Bloomberg, which first reported the news. The proposal also includes a $21.53 offer for non-voting shares. The offer to buy the outstanding shares totals $14.3 billion.
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Despite its size and variety of assets, Allen Media Group had functioned quietly, which was amusing given Allen’s background in comedy and show industry. However, the company came into the spotlight after Allen made an unsolicited $10 billion bid for the ABC network, affiliates, and cable channels such as FX last summer, which Disney ultimately declined.
SkyDance Media
According to Bloomberg, Skydance Media CEO David Ellison has made a preliminary bid to buy National Amusements, which holds the media company’s controlling interest. Ellison, the son of billionaire Oracle CEO Larry Ellison, is also in talks to merge Skydance Media with Paramount once he takes control. According to the article, both sides have recruited financial consultants and are exchanging information.
The Skydance bid is a swerve for Paramount, which was already at the center of merger speculation after news surfaced that Warner Bros. Discovery CEO David Zaslav met with Paramount CEO Bob Bakish to discuss a possible merger. One potential feature of the arrangement was the combination of Max and Paramount+ into a single service. The conversation sparked fear that increased consolidation of major media companies will result in lower-quality shows and movies in the future.
There are also reports that various investment organizations are looking at Paramount, but it is unclear how serious they are.
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