Byron Allen’s Latest Takeover Bid: Paramount for $14 Billion (1)

Media mogul Byron Allen has extended yet another multibillion-dollar takeover offer — this time a $14.3 billion bid for film and TV giant Paramount Global, parent of the CBS broadcast network and cable outlets like Nickelodeon.

Allen is offering $28.58 each for the voting shares of Paramount, a 50% premium to recent trading, and $21.53 for the nonvoting shares, people familiar with the matter said. Including existing debt, the total value of the deal rises to about $30 billion.

Allen joins a growing list of parties interested in Paramount, owner of some of the most-prized assets in entertainment. The ...