Paramount Global shares got a boost last week after reports of a potential takeover offer , but the media company could still prove a rare losing bet for Berkshire Hathaway , its biggest institutional investor. The media company's Class B shares climbed almost 5% last week to close Friday at $14.43 as investors cheered billionaire media mogul Byron Allen's $14.3 billion buyout bid. Allen Media Group offered $21.53 for each Class B nonvoting share of Paramount, about 50% above the 90-day average price. The Omaha-based conglomerate owns 93.7 million shares of Paramount nonvoting Class B stock, or a 15.4% stake, according to FactSet. It may have been the case that Berkshire was betting on Paramount being an acquisition target.

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Persons: Berkshire Hathaway, Byron Allen's, Buffett, You've, Shari Redstone, Don Bilson, Gordon Haskett, Allen Organizations: Paramount Global, Berkshire, Allen Media Group, Paramount, Paramount nonvoting, Oracle, CBS, Showtime, Nickelodeon, Skydance Media, Warner Bros . Locations: Omaha