Report: Barry Diller is circling Paramount

• He became a Hollywood titan as head of Paramount Pictures in the 1970s and 1980s, but got outbid for the company in 1994 by Shari's father, Sumner Redstone.
• He subsequently formed a media conglomerate known for buying up properties and spinning them back out.

The bottom line: It's unclear if Diller wants to buy Paramount outright or if he'd prefer to assume control via a purchase of National Amusements. Either way, he'd need signoff from the hot-and-cold Redstone, who last month abandoned a proposed deal with Skydance Media.