It’s starting to get back to at least something like business as usual at Paramount (PARA) now that the Skydance and Paramount deal is at least mostly settled. And a new deal with rapper and actor Ice Cube might give Paramount a little extra boost, something it sorely needs right now. Investors proved pleased, and Paramount shares gained nearly 2% in Tuesday afternoon’s trading.
The new deal brings together Paramount and Cube Vision, the production studio Ice Cube runs, in a first-look deal for television production. Cube Vision will develop and executive produce projects for both broadcast and streaming, and the first project is already in place.
There’s no name on said project yet, but it’s set to take a look at Hollywood productions and the “Black experience,” including pieces on how far the cast involved will go to get ahead in a “cutthroat world.” This is actually part of an expanded partnership, reports note; Cube Vision has worked with Paramount before for things like “Hip Hop Squares” on VH1 and voice-over work for “Teenage Mutant Ninja Turtles: Mutant Mayhem.”
Mario Gabelli Offers Some Clarification
Billionaire investor Mario Gabelli also offered some clarification about his interest in seeing Paramount’s books. He doesn’t specifically plan to sue, but he wants to know what majority shareholder Shari Redstone “got out of the deal.” Meanwhile, Shari Redstone is now working on her next chapter as a Broadway producer. She’s working on a new “psychological thriller” called “Job,” about a young woman laid off from her Big Tech position.
Is Intel a Buy, Sell, or Hold?
Turning to Wall Street, analysts have a Moderate Sell consensus rating on PARA stock based on three Buys, seven Holds, and 10 Sells assigned in the past three months, as indicated by the graphic below. After a 21.91% loss in its share price over the past year, the average PARA price target of $12 per share implies 1.74% upside potential.
