Contrary to his investor profile, the businessman holds the shares of a company that is facing significant complications.
Warren Buffettthe legendary investor, owns through Berkshire Hathawaythe company of which he is CEO, around 93 million Paramount shares. The striking thing is that the tycoon usually has stable and safe assets, however, currently This entertainment company is in a bad moment.
The Actions of this film and television production company they have been falling for quite some time. This downward trend began with a significant drop that occurred last year, after the company presented its new goals, which included a more aggressive competition strategy against rivals such as Netflix, Disney+ and Hulu.
Then the decline continued large transmission lossesdespite winning million more subscribers for the platform itself, Paramount+.
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Paramount’s bad moment: sale rumors
In this framework of devaluation of the company, there are more and more hypothesis about the possible drift of the company. The latest information pointed to Warner Bros. Earlier this month, The New York Times reported that the majority shareholder of Paramount Global, Shari RedstoneI was considering sell his stake to Skydance Media. Earlier this month, news of Potential deal sent Paramount shares up 12%.
In that same sense, a few days ago it was learned that Warner Bros. Discovery CEO David Zaslav, met with Paramount Global CEO Bob Bakish, in New York City. The objective of the meeting was to discuss a possible merger.
But in this case the market reactions were not positive since the Paramount stock They fell slightly after hearing the news. Meanwhile, those of Warner Bros Discovery They operated in the same direction. Therefore, from the beginning of this possible new adventure, the signs do not seem to have been the most promising.
Source: Ambito
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