Of all the changes that have occurred at entertainment giant Paramount (PARA) in the midst of its merger with Skydance, one of the biggest may finally have emerged. A new report says that there is no chance that former CNN boss Jeff Zucker will be brought in at Paramount, not at the CBS network, or anywhere else. Investors were a mite skeptical, and send shares down fractionally in the closing minutes of Monday’s trading.
The new reports say that Zucker is out from any role at Paramount, news-related or otherwise. Zucker was forced out of his CNN slot following emergence of a relationship between himself and a subordinate. This in turn likely left him as damaged goods, and Paramount thus likely had no plans to bring Zucker on board to handle anything more complex than a mop.
That and Zucker may not have had interest in jumping ship to begin with; he is currently part of RedBird Capital, which, interestingly, is funding the Paramount / Skydance deal, reports noted. Plus, with most of the potential roles that Zucker could have filled already filled by other candidates, and any other role basically considered a “demotion” over his previous positions, that basically leaves no room at the inn for Zucker.
The Novocaine Controversy
The use of artificial intelligence (AI) in art, meanwhile, is proving a controversial subject at best. With quality turning out mixed—especially depending on how much human involvement there is—the combination of mixed results and a hot-button status leaves most not wanting to try. Paramount, however, did with a promotion for the film Novocaine.
Paramount reportedly turned to “AI-generated scripting and narration” in its promotional material for Novocaine, an action movie set to release Friday in theaters about a man that feels no pain. The version in question seems to have cropped up on Instagram only, but left a bad taste in viewers’ mouths. Viewers unhappily referred to “…low-effort, mass-produced AI content,” as well as calling it a “…disgusting application of AI.”
Is Paramount Stock a Good Buy Right Now?
Turning to Wall Street, analysts have a Hold consensus rating on PARA stock based on two Buys, six Holds and five Sells assigned in the past three months, as indicated by the graphic below. After a 5.43% rally in its share price over the past year, the average PARA price target of $12.50 per share implies 3.91% upside potential.
