Byron Allen’s M&A Wish List Tops $40 Billion With Paramount Bid

Byron Allen’s offer to buy Paramount Global is the media executive’s biggest takeover bid yet, leading a $40 billion-plus list of potential targets that’s spanned entertainment networks to National Football League teams.

If successful, it’d be a rare triumph among his headline-grabbing attempts at big mergers and acquisitions, many of which have been thwarted by deep-pocketed counter bidders or regulatory hurdles.

Byron Allen, chairman and chief executive officer of Allen Media Group LLC, during the Bloomberg Screentime event in Los Angeles.

Photographer: Kyle Grillot/Bloomberg

Allen on Tuesday confirmed he’d made a $14.3 billion proposalto buy the outstanding shares of Paramount. Including debt, the deal could be valued at about $30 billion. In a letter he sent to Paramount that was ...