PARA announced a cash dividend of 0.05 with an ex-date of Dec. 14, 2023
|Bid||16.97 x 1000|
|Ask||17.05 x 2900|
|Day's Range||15.72 - 17.26|
|52 Week Range||10.51 - 25.93|
|Beta (5Y Monthly)||1.87|
|PE Ratio (TTM)||N/A|
|Earnings Date||Feb 14, 2024 - Feb 19, 2024|
|Forward Dividend & Yield||0.20 (1.19%)|
|Ex-Dividend Date||Dec 14, 2023|
|1y Target Est||14.68|
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Paramount stock surged Friday as reports continued to swirl regarding potential M&A deals for the media conglomerate.
Shares of Paramount Global (NASDAQ: PARA) (NASDAQ: PARA.A) closed up 12% on Friday after Puck News reported that the entertainment conglomerate is the subject of takeover interest from Skydance Media and RedBird Capital Partners. Citing three sources familiar with the situation, the media outlet said that Skydance and RedBird are considering indirectly taking control of Paramount -- by acquiring media company National Amusements, which currently owns around 77% of Paramount's Class A voting shares.
Paramount Global’s controlling shareholder has held talks about a sale of the legendary Hollywood studio and other assets to Skydance, the production company behind Top Gun: Maverick, according to people familiar with the company controlled by Shari Redstone. Skydance, whose shareholders include the Ellison family and RedBird Capital Partners, has emerged as a leading contender to take over Redstone’s National Amusements, which has a controlling stake in Paramount.* The two companies have co-produced a series of movies.