Paramount’s Rival Bidders Include the Patrón Tequila Billionaire

John Paul DeJoria, the billionaire co-founder of Patrón tequila and Paul Mitchell hair care products, is among the deep-pocketed investors who’ve made a bid to take over Paramount Global.

DeJoria, who sold Patrón to Bacardi Ltd. for $5.1 billion in 2018, wants a chance to redirect the news coverage at Paramount’s CBS network, he said in an interview.

“There is not one news station that’s non-political,” DeJoria said. “I can promote positive information on their stations. It’s a wonderful thing to be able to be a positive influence on everybody.”

DeJoria is part of a group of ...