Byron Allen Purchases Paramount Global Property In Allen Market

NEGOTIATION IMAGE: Byron Allen DATE: 12/20/2023

BUYER: Byron Allen SELLER: Paramount Global

SALE PRICE: $3,500,000,000

NOTE: Media mogul Byron Allen has made a renewed bid to acquire BET Media Group from Paramount Global, extending a $3.5 billion offer. Allen, the founder and CEO of Allen Media Group, increased his offer from $2.7 billion earlier in 2023. The proposed acquisition includes the BET cable channel, VH1, BET Studios, and the streaming service BET+. Allen reached out to Paramount Global senior executives and the board via email. Other potential buyers for BET Media Group reportedly include BET CEO Scott Mills and Chinh Chu, a former executive at private-equity firm Blackstone executive who runs CC Capital Partners, with discussions indicating a price tag of under $2 billion.

Allen Media Group HQ: #LosAngeles #California Paramount Global HQ: #NewYorkCity #New York

#VentureCapital #ByronAllen #ParamountGlobal #TradedVC