As Skydance Media CEO David Ellison is in talks to buy control of Paramount Global (PARA) and take it private, media mogul and Allen Media Group Founder-CEO Byron Allen has offered Paramount a $14.3 billion buyout deal, according to Bloomberg. Yahoo Finance Entertainment Reporter Alexandra Canal explains the latest news, monitoring Paramount shares as the stock is rising on these headlines Wednesday morning. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Luke Carberry Mogan.