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Byron Allen Is Looking To Purchase Paramount Global For $14.3B, Report Says

Byron Allen has placed a significant proposal on the table once again. The Hollywood Reporter states Allen Media Group is looking to place a $14.3 billion offer to purchase Paramount Global’s remaining shares. If the deal is approved, Allen Media Group will acquire Paramount’s debt as well, which is estimated to be $15 billion. “Mr. Byron Allen did submit a bid on behalf of Allen Media Group and its strategic partners to purchase all of Paramount Global’s outstanding shares,” the statement read, according to the outlet. “We believe 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.” This isn’t Allen’s first proposal to acquire another media giant. As AFROTECH previously told you, the billionaire was looking to purchase BET Media Group, when it had been put up for sale by Paramount Global in 2023. Ultimately, Paramount Global would retract its proposal in August...

Samantha Dorisca

Jan 31, 2024

Byron Allen Isn't Afraid To Go After Linear Television Real Estate Despite Success Of The Streaming Industry, Says He 'Can Run Them Better'

In 2018, Byron Allen’s Entertainment Studios acquired The Weather Channel for $300 million. Since then, he’s continued to dedicate his platform to producing quality content across the globe.

Shanique Yates

Jan 11, 2024

Byron Allen Reportedly Returns With A $3.5B Offer To Purchase BET Media Group From Paramount Global

It appears Paramount Global has had a change of heart regarding the sale of BET.

Ngozi Nwanji

Dec 21, 2023

Byron Allen Reflects On The Struggles He Faced While Building Allen Media Group: 'My Home Went In And Out Of Foreclosure Many Times'

Across three decades, Byron Allen has cemented himself as one of today’s biggest media moguls.

Ngozi Nwanji

Dec 18, 2023

Byron Allen Could Potentially Place A Bid To Purchase Scripps TV Stations, Report Says

Could Byron Allen’s Allen Media Group be heading toward further expansion?

Ngozi Nwanji

Dec 6, 2023

After Paramount Ends Plans To Sell Majority Stake In BET, Sean 'Diddy' Combs Now Wants To Unite With Tyler Perry

Sean “Diddy” Combs has his eyes set on building a force in media with the help of fellow entertainment industry veterans.

Ngozi Nwanji

Sep 14, 2023

Byron Allen's Allen Media Group Inks A 10-Year Deal With HBCU Sports Streaming Platform And CIAA

Byron Allen’s entertainment company has joined forces with a leading media provider for Historically Black Colleges and Universities (HBCUs).

Ngozi Nwanji

Sep 14, 2023

Byron Allen Slams McDonald’s With Second Lawsuit, Seeks $100M And Punitive Damages

Byron Allen is doubling down on taking McDonald’s to court.

Ngozi Nwanji

May 9, 2023

Byron Allen Could Become The First Black NFL Team Owner As He's Set To Place Another Bid

In early 2022, Byron Allen was looking to place a bid on the Denver Broncos. Now, the media mogul appears to have his eyes set on a different NFL team.

Ngozi Nwanji

Nov 3, 2022

Byron Allen's Latest Real Estate Purchase Marked As The Most Ever Paid For A Home By A Black Buyer In The U.S.

Byron Allen has made history again, but this time, it’s outside the media industry.

Ngozi Nwanji

Oct 12, 2022

Judge Reportedly Orders McDonald's To Face Byron Allen In $10B Racial Discrimination Lawsuit After Previously Dismissing It

McDonald’s has officially been ordered to stand trial in the $10 billion discrimination lawsuit brought forth by media mogul Byron Allen, Reuters reports. As previously reported by AfroTech, the suit accuses the fast-food chain of “racial stereotyping” by excluding Black-owned media from its advertising. As of Friday (Sept. 16), U.S. District Judge Fernando Olguin gave Allen the greenlight to attempt to prove that McDonald’s violated both federal and California rights by saying that his networks were not eligible for the “vast majority” of its advertising dollars.

Shanique Yates

Sep 22, 2022

Byron Allen Buys Black News Channel Out Of Bankruptcy For $11M

It’s official! Byron Allen has purchased the Black News Channel.  

Samantha Dorisca

Jul 21, 2022

Byron Allen Reportedly Plans To Purchase Black News Channel For $11M

There is a glimmer of hope for the Black News Channel. As AfroTech previously told you, the news outlet filed for bankruptcy after losing one of its biggest investors, Jacksonville Jaguars owner Shahid Kahn. Cablefax reports that the CEO and sole shareholder of Entertainment Studios Network, Byron Allen, may be stepping in and has already placed a bid worth $11 million to buy the network.

Samantha Dorisca

Jul 19, 2022

Byron Allen's Allen Media Group Is Seeking Billions Of Dollars In Damages After Filing A Lawsuit Against Nielsen

After taking legal action against McDonald’s in 2021, Byron Allen has filed yet another lawsuit. According to Deadline, the media mogul’s companies including Weather Group, Entertainment Studios Networks (ESN), and CF Entertainment have sued Nielsen. Allen Media Group claims that the ratings company has undercounted its viewers and was unreliable for Allen’s ESN networks, given their limited distribution. “This lawsuit is about Nielsen’s outdated, unreliable and broken television ratings service, and the resulting harm suffered by media companies who rely on Nielsen to sell ad time,” the complaint explains, according to Deadline. In addition to its alleged inaccuracy, ESN also claimed Nielsen failed to tell ESN the truth about its ratings services, which the company reportedly already knew. “Nielsen did not tell Entertainment Studios the truth – that, in reality, its ratings services were not reliable for networks like those owned by Entertainment Studios,” the suit details. Within...

Ngozi Nwanji

Mar 17, 2022