2024-02-01 14:28:08 ET
Summary
- Paramount Global appears to have multiple bidders, potentially sparking a bidding war.
- The Allen Media Group bid still values Paramount at just below $15 billion, with potential for a higher bid.
- The media company has struggled in the streaming space and faces competition from larger players like Netflix and Disney, but improving earnings limits downside risk.
According to industry reports, Paramount Global ( PARA , PARAA ) got an updated bid from Allen Media Group. The media company has struggled the last year, but the reduced bid is actually far below the current price. My investment thesis is Bullish on the stock, with the realistic opportunity for a bidding war and the potential to purchase the stock on a gap close to $14....
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Paramount: Ride The Bids Higher