Byron Allen bids $14.3 billion for Paramount Global

Byron Allen has made a $14.3 billion bid to buy Paramount Global, jumping into the race to scoop up the media empire.

Driving the news: Allen has offered $28.58 each for the voting shares of Paramount, and $21.53 for the non-voting shares, according to a source familiar with the matter. Including debt, the offer rises to around $30 billion.