'Paramount Global Could Close Sale Of Simon & Schuster By Year End, CFO Says; Company "Open Minded" To Broader Media M&A' - Deadline
Portfolio Pulse from Happy Mohamed
Paramount Global is in the process of selling publisher Simon & Schuster and expects to close the deal this year. The company is also considering selling a majority stake in BET and has been divesting real estate assets. Despite a slumping stock, Paramount is investing in streaming and expects a shift to profit and free cash flow in 2024.
June 08, 2023 | 5:40 pm
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NEUTRAL IMPACT
Paramount Global's ongoing asset sales, including Simon & Schuster and potentially BET, may help reduce leverage and improve financials. However, the company's stock is currently slumping.
Paramount Global is selling assets like Simon & Schuster and potentially BET to reduce leverage and improve its financial position. However, the company's stock is currently slumping, and it's unclear how these sales will impact the stock price in the short term. The company is also investing in streaming and expects a shift to profit and free cash flow in 2024, which may have a positive impact on the stock price in the long term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100