Paramount shares pop 9% on news of preliminary Skydance Media deal
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 02 2024
0mins
Source: CNBC
- Paramount Acquisition Deal:
- Paramount shares surged 9% in after-hours trading following reports of Skydance's preliminary deal to acquire National Amusements, Paramount's controlling shareholder.
- The deal would give Skydance control of Paramount and is a revival of a previously failed agreement between the two parties.
- Specific terms of the deal were not disclosed by sources.
- Previous deal details included Skydance buying half of Paramount's controlling shares for $4.5 billion and a $1.5 billion cash payment towards Paramount's balance sheet.
- National Amusements referred the deal to the Paramount special committee for review, with other interested bids from Apollo, Sony, and Barry Diller.
Analyst Views on SONY
Wall Street analysts forecast SONY stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SONY is 34.00 USD with a low forecast of 34.00 USD and a high forecast of 34.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 22.960
Low
34.00
Averages
34.00
High
34.00
Current: 22.960
Low
34.00
Averages
34.00
High
34.00
About SONY
Sony Group Corp is a Japan-based company engaged in the games & network services (G&NS), music, movies, entertainment technology & services (ET&S), imaging & sensing solutions (I&SS) and other businesses. It has seven business segments. G&NS segment is involved in network service business, the manufacture and sale of home video game consoles and software. The Music segment mainly includes music production, music publishing and video media platform businesses. The Movies segment mainly includes film production, television program production and media network businesses. The ET&S field mainly includes the television business, audio, video business, still image, video camera business, smartphone business and Internet-related service business. The I&SS segment mainly includes the image sensor business. The Financial segment is involved in the insurance business and banking business. The Other segment consists of activities such as disc manufacturing business and recording media business.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
