Paramount Global controlling shareholder Shari Redstone is open to doing a transformative deal, but she hasn't been able to figure out the right one yet, sources say.'s controlling shareholder is open to a merger or selling the company at the right price, according to people familiar with her thinking. And she has been open to it for several years, said the people, who asked not to speak publicly because the discussions have been private.Sign up for NBC New York newsletters.
"Paramount has a tremendous amount of assets in its content library and they own some pretty powerful sports rights in the form of the NFL contract, Champions League soccer and March Madness," Guggenheim analyst Michael Morris told CNBC last week. CEO Bob Bakish said 2023 will be the peak loss year for streaming.
"We believe Paramount Global is too small to win the streaming wars, but it is bite-size enough to be acquired by a larger streaming competitor for its deep library of film and TV content, as well as its sports rights and news assets," Laura Martin, an analyst at Needham & Co., wrote in an Oct. 9 research note to clients.
If a full sale to Big Tech and a partial sale to private equity won't happen, another option for Redstone is to merge or sell to another legacy media company.could merge with Paramount Global, though putting together Warner Bros. and Paramount Pictures may hold up deal approval with U.S. regulators.
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: MarketWatch - 🏆 3. / 97 Read more »