Barry Diller, the influential leader of internet media giant IAC, is rumored to be eyeing a return to Hollywood with a potential bid for struggling media company Paramount Global. The New York Times reported that IAC is exploring the acquisition of National Amusements Inc., which holds a controlling stake in Paramount Global. Diller, who once ran Paramount Pictures, has a history with the studio dating back to the 1990s, when he attempted to buy it before being outbid. Despite his interest, it remains unlikely that current owner Shari Redstone will agree to hand over the keys to her family's media assets. This comes after failed merger talks between Paramount and Skydance Media, leading to Paramount Global focusing on a new strategic plan. As Diller's reported interest in NAI grows, other potential bidders have also emerged, signaling a potential shake-up in the media industry.