Paramount shares sink as Arete analyst downgrades them to “Sell.” Here’s why Pierre-Marie d’Ornano turned bearish on PSKY stock.
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Investing.com -- Paramount Skydance shares fell 8% Thursday after Arete Research downgraded the media company to sell from neutral and slashed its price target to $2, a Street low, citing concerns about the debt burden from its planned merger with Warner Bros. Discovery.
Paramount Skydance (NasdaqGS:PSKY) is reported to be pursuing a proposed acquisition of Warner Bros. Discovery that is being described as transformative for global media. The potential deal is linked to plans for sizeable backing from global sovereign funds and a reworked content and technology roadmap, including expanded use of AI. Regulators and policymakers are expected to review the transaction closely, with particular attention on competition issues and foreign ownership...