Paramount Stock Surges. There Could Be a Bidding War.

Paramount Global shares jumped in premarket trading Wednesday after a report said media mogul Byron Allen has offered $14 billion to acquire the company. Combined with the assumption of Paramount’s debt, the bid is worth about $30 billion, and represents a hefty premium to recent trading. Neither Allen Media Group or Paramount immediately responded to a request for comment from Barron’s out of regular office hours.