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Comedian-turned-media mogul Byron Allen recently offered a deal to buy the remaining shares of Paramount Global. The offer has raised a few eyebrows across all industries, from entertainment to sports. One such person is NBA champion Kevin Garnett, who has expressed his own suspicions regarding the deal.

The response by Garnett came on a post by ‘officialblackwallstreet’ mentioning, “Byron Allen’s Allen Media Group extended a $14.3 billion offer to acquire the remaining shares of Paramount Global.” The ex-Minnesota Timberwolves star took to his official Instagram account and shared the post in his Insta story, stating “Oooohhhh shhhii 😤😤😤😳😳😳😳 He  must know somin 🤔🤝💯💯”. However, Garnett extended his support to Allen further in the story, “Ok BA go get it then shhiii 🫡💯”. 

While KG might be suspecting some foul play here considering the low amount, there is more to this than the $14.3 billion offer. Allen Media Group had reportedly submitted a $30 billion offer to acquire Paramount Global, which includes around $15 billion of Paramount’s existing debt. And he has big things in store.

Paramount’s Film Studio and real estate will reportedly be sold if the sale goes through. Moreover, the Allen Media Group has always had its primary focus on television networks and stations. Acquiring Paramount’s television segment is likely to further the group’s influence in the media landscape. However, Byron is not the only one who has his eyes set on Paramount Global.

Apart from the Allen Media Group, Skydance Media, and Warner Bros. Discovery have also been among the top contenders for the deal with Paramount. The first to express interest was David Ellison’s Skydance. Ellison’s interest in Paramount is said to stem from his desire to further expand his company. Acquiring the Paramount Global segment can be a major step in that direction.

David Zaslav’s Warner Bros. Discovery followed Skydance’s footsteps, expressing their interest in Paramount. In fact, it is said that Zaslav even met Paramount Chief Executive Bob Bakish in December last year to discuss the merger of their two companies. It is worth mentioning that Warner Bros. Discovery is already having a hard time paying its $40 billion in debt.

The latest addition to this list of contenders was Byron Allen. However, this was not Allen’s first attempt at acquiring major media companies. He previously made unsuccessful bids for BET (Black Entertainment Television) and E.W. Scripps Co. Do you think he will be able to turn around the situation for himself in this attempt?

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