glory star new media group holdings ltd said its chief executive and founder bing zhang has offered to buy all outstanding ordinary shares of the company not already owned by mr zhang mr zhang offered 127 a share in a deal that would take the digital media and ecommerce company private representing a roughly 44 premium over fridays closing price the stock was halted in premarket trading ahead of the disclosure at 92 cents a share the offer values glory star new media group at about 865 million mr zhang currently owns about 29 of the companys outstanding ordinary shares glory star new media group said the board intends to form a special committee consisting of independent directors to consider the offer write to will feuer at willfeuerwsjcom