With the dust seemingly settling around the Paramount (PARA) and Skydance merger, the entertainment giant is starting to get its ducks in a row, regardless of the seemingly mounting series of lawsuits waiting in the wings. In addition, with a new senior advisor in place and some new content development, shares finished up 1.5% in today’s trading.
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The CEO of independent and global entertainment group SISTER, Cindy Holland, will be brought in to serve as a “senior advisor” as Paramount and Skydance set up to conclude their merger. Holland was formerly head of content at Netflix and will likely have quite a bit to offer ahead of the concluded transaction, which should be finished by the midpoint of 2025.
Holland will be leaving SISTER at a low point, notes a report from The Wrap. SISTER is closing its Los Angeles film and television base. The company was reportedly hit by multiple blows, starting with the pandemic and going all the way up through multiple strikes in Hollywood and a changing landscape in general.
IDW Dark Taps Paramount Gold
Meanwhile, there were some noteworthy content developments to consider. First, comic publisher IDW—and things have not exactly been going well in the comic book space for some time now—is launching the IDW Dark label, and it is looking squarely to Paramount for material. Several Paramount properties—including Smile, Event Horizon, and The Twilight Zone—are all on tap to get comic adaptations.
Is Paramount Stock a Good Buy Right Now?
Turning to Wall Street, analysts have a Hold consensus rating on PARA stock based on three Buys, six Holds, and four Sells assigned in the past three months, as indicated by the graphic below. After a 3.65% loss in its share price over the past year, the average PARA price target of $12.67 per share implies 22.12% upside potential.
