Potential Sale of CNN to Ex-CEO Jeff Zucker Raises Political and Regulatory Concerns, Analyst Says
Portfolio Pulse from Anusuya Lahiri
Benchmark analyst Matthew Harrigan has reiterated a Buy rating on Warner Bros. Discovery, Inc (NASDAQ:WBD) with a price target of $26.00. The potential sale of CNN to ex-CEO Jeff Zucker, if funded primarily by the UAE, could raise political and regulatory concerns. The sale would necessitate a comprehensive CFIUS review. The analyst also mentioned that CNN live programming could be a building block for the Max streaming service, and could potentially enable a merger with Comcast Corp (NASDAQ: CMCSA)-owned NBCUniversal.
July 05, 2023 | 7:23 pm
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NEUTRAL IMPACT
The potential sale of CNN could enable a merger with Comcast Corp-owned NBCUniversal, if CBS is spun off from Paramount Global.
The potential sale of CNN could enable a merger with Comcast Corp-owned NBCUniversal, if CBS is spun off from Paramount Global. This could potentially impact the stock of Paramount Global.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
The potential sale of CNN could enable a merger with Comcast Corp-owned NBCUniversal.
The potential sale of CNN could enable a merger with Comcast Corp-owned NBCUniversal, which could potentially impact the stock of Comcast Corp.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
The potential sale of CNN could raise regulatory concerns, which could impact Warner Bros. Discovery's stock. However, the analyst has reiterated a Buy rating on the company with a price target of $26.00.
The potential sale of CNN, if funded primarily by the UAE, could raise political and regulatory concerns, which could impact the stock of Warner Bros. Discovery. However, the analyst has reiterated a Buy rating on the company, indicating a positive outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100