While much of the outside world’s attention has been focused on media giant Paramount’s (NASDAQ:PARA) position in a merger and acquisition project that sees plenty of rivals vying for it, the latest news proved a harder loss to bear. Paramount is down fractionally in Wednesday afternoon’s trading following word of the departure of Jo Ann Ross.
Jo Ann Ross was a major figure at Paramount, serving as chair of the ad sales division for Paramount Global. Ross was also the first woman to run a broadcast television network’s advertising sales operation. Ross hasn’t had much of a hands-on approach in Paramount’s operations for some time, having handed off most of the day-to-day operation to John Halley, but Ross’ relationships with senior management and media agencies made her a valuable part regardless.
Now, she will have no part in Paramount’s operations at all, and that’s hitting Paramount fairly hard, particularly as it looks to draw in potential buyers.
Targeting the Children
In a move to better supply services to families, Paramount is working to make its streaming more accessible to children. There’s no doubt Paramount—particularly thanks to its Nickelodeon connections—has a lot of child-friendly content. But making the streaming platform itself child-friendly is a little tougher, and that’s a point that Paramount is actively working on right now.
The early versions are said to contain “…a lot less personalization,” but also put the child-safe stuff front and center to reduce the chance of stumbling onto something less appropriate.
Is Paramount Buy or Sell?
Turning to Wall Street, analysts have a Hold consensus rating on PARA stock based on six Buys, eight Holds, and seven Sells assigned in the past three months, as indicated by the graphic below. After a 42.06% loss in its share price over the past year, the average PARA price target of $13.29 per share implies 4.93% upside potential.
Is It Wise to Allocate $1,000 Toward PARA Stock Right Now?
Before you hurry to invest in PARA, think about the following:
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