Good news for sports buffs, as a familiar face will be making a comeback to Paramount (PARA). This move should also keep a flow of advertiser dollars continuing to run in its direction. Lega Serie A, or Lega Nazionale Professionisti Serie A—which itself is Italian for “National Professional Soccer League Serie A”—has agreed to bring its Italian soccer lineup back to Paramount for the next two seasons. That includes not only Paramount+, but also CBS Sports. This represents an extension of the current deal, which suggests that it worked out pretty well for Lega Serie A already.
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Lega Serie A previously had a deal with ESPN (DIS), but Paramount took over in 2021 with a three-year contract to cover both the U.S. and Canada. In addition, the deal gave Paramount access to Italian SuperCup action and the Coppa Italia, which was worth $195 million over three years to Paramount. That was a step up over what Serie A was receiving from ESPN.
Nevertheless, investors weren’t enthused and sent shares down fractionally in Monday afternoon’s trading.
Troubles with Skydance?
Meanwhile, Bloomberg Law suggests that there may be trouble in paradise as far as the Skydance and Paramount merger goes. The report notes that “legal teams” have “shifted,” though there’s not much word as to how that will impact the deal. In fact, right now, acting general counsel Caryn Grace is reportedly eager to make sure this merger goes through and, hopefully, cement her place as actual general counsel.
Is Paramount a Good Stock to Buy?
Turning to Wall Street, analysts have a Moderate Sell consensus rating on PARA stock based on three Buys, seven Holds, and 10 Sells assigned in the past three months, as indicated by the graphic below. After a 24.82% loss in its share price over the past year, the average PARA price target of $12 per share implies 4.48% upside potential.
