| WEEKLY UPDATE Dear Leah, Picture this: A family-owned global media conglomerate worth billions of dollars… and a bitter fight to preserve the family’s legacy or to sell and walk away with billions in their pockets. If HBO’s Succession comes to mind, you’d be wrong. I’m talking about Paramount Global (PARA) and the real-life drama surrounding it. Paramount’s dual-class structure means that Shari Redstone – daughter of the late media mogul Sumner Redstone – effectively controls 77% of all voting stock. And, unfortunately for shareholders, her control of the company has stood in the way of their best interest. Ever since Warner Bros. Discovery Inc. (WBD) halted merger talks with Paramount in February, it's been increasingly clear where common shareholders stand in this new season of Succession. Though the media conglomerate remains wildly undervalued, we decided to move the stock to a “Hold” in our portfolio. So, in today’s Fry’s Investment Report weekly update, Thomas Yeung will explain the four reasons behind this decision – and why we don’t want to sell it just yet… Click here or on the button below.
Weekly Update Regards, |
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| Eric Fry
Editor, Fry's Investment Report |
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