“Understands the Value of Sports”: Paramount Stock (NASDAQ:PARA) Slips With Plans to Buy in Harder on Sports

While it might still be somewhat premature to talk about the merger between entertainment giant Paramount (PARA) and Skydance, there are still some considering a future in which the merger comes out right. And a new report suggests that a post-Skydance Paramount will be much more heavily into sports than it was even previously. Investors were oddly displeased by this notion, though, as shares dipped fractionally in the closing minutes of Thursday’s trading.

Basically, the reports go, Paramount—by way of CBS Sports—lost the rights to SEC football not so long ago. This was actually a big deal at the time, as CBS had held SEC football rights for 27 years prior to the loss. But once Skydance swings in, and Ellison et al are in charge, Paramount is likely to be a much bigger player for sports rights once more.

Andrew Marchand, known for his presence with The Athletic and his own eponymous podcast, Marchand Sports Media, notes that Paramount will “…get bigger into sports. I think they’re going to be bigger players.” The biggest indicator on that is Jeff Shell, a Los Angeles resident who holds season tickets to the Dodgers. Marchand was not alone in this assessment, either, as Puck analyst John Ourand noted that Shell “…understands the value of sports.”

Stand By Your Work

Meanwhile, staffers with 60 Minutes are coming out in force to back up their coverage of the former vice president, Kamala Harris, and the resulting civil trial that followed. While a potential settlement is still expected out any day, and both sides are still in mediation, the staff involved with that production are coming out in favor of their work.

One producer on the show noted that President Trump actually turned down a request for interview on 60 Minutes, which said producer wishes were different. “I wish that Donald Trump had agreed to participate in that program. Because we’ve been doing fair but tough interviews with the candidates of both parties every four years for 50 years.” Trump’s relationship with 60 Minutes, however, has been rocky. Trump did appear on the show back in 2020 with Lesley Stahl, who “dismissed” the Hunter Biden laptop incident.

Is Paramount Stock a Good Buy Right Now?

Turning to Wall Street, analysts have a Moderate Sell consensus rating on PARA stock based on two Buys, seven Holds and six Sells assigned in the past three months, as indicated by the graphic below. After a 0.85% rally in its share price over the past year, the average PARA price target of $11.92 per share implies 0.42% upside potential.

See more PARA analyst ratings

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