Paramount Global (PARA) shares skyrocketed about 20% in premarket trading on Wednesday after Bloomberg reported media mogul Byron Allen made a $14.3 billion bid to buy all of Paramount's outstanding shares. According to the report, Allen offered $28.58 each for the company's voting shares, marking a 50% premium compared to recent trading levels, and $21.53 for non-voting shares. Including existing debt, the total value of the deal mounts to roughly $30 billion. National Amusements (NAI), Paramount's holding company, owns approximately 10% of Paramount's equity capital value and maintains 77% of voting shares — valued at around $1 billion.