Wolfe Research analyst Peter Supino ended his bearish call on Paramount Global Inc. recently following the announcement that majority shareholder National Amusements obtained a $125 million preferred equity investment.
“The... Wolfe Research analyst Peter Supino ended his bearish call on Paramount Global Inc. recently following the announcement that majority shareholder National Amusements obtained a $125 million preferred equity investment. “The collateral for the loan amounts to a significant minority of [National Amusements’] 9.7% Paramount equity stake,” Supino wrote. “Given the Redstones’ financial situation appears even more pressing, we highly doubt that [National Amusements Chief Executive] Shari Redstone’s commitment to Paramount’s current money-losing strategies would be so great as to lead her towards surrendering those shares.