Paramount Global Shares Fall Under $10, A Record Low Since Viacom & CBS Merged

- Share of Paramount Global fell below $10 for the first time - Stock price down 2% from previous day - Viacom and CBS merged in December 2019 - Shares were at $35 at merger, briefly around $10 during Covid, and up to $90 a year later - Potential sale of Showtime and BET for cash infusion was missed - Controlling shareholder Shari Redstone backed away from transaction last week - Company facing high debt, exposure to declining linear TV, and streaming losses - Three CEOs appointed to implement $500 million in cost cuts and strategic partnerships - Interest from parties in buying National Amusements - Skydance proposal of acquisition and merger with Paramount faced challenges - Regulatory issues impacting potential deals - Current focus on cost cutting and strategic partnerships to move forward - Paramount Global stock price fell below $10 for the first time since Viacom and CBS merged in December 2019. - The stock price hit an all-time low of $9.91, down 2% from Friday. - The company, facing high debt and losses in linear television and streaming, is undergoing cost-cutting measures. - Shari Redstone, the controlling shareholder of Paramount, backed away from potential transactions, leaving the company in a complicated position. - Analysts suggest that a merger with Warner Bros. Discovery could be the best deal for Paramount, but regulatory hurdles and market conditions present challenges. - Alan Gould of Loop Capital has a sell rating on the stock with a price target of $8. - The company's strategic moves include cost-cutting initiatives, finding a partner for streaming, and possible sale of assets like BET. - Speculation about potential suitors for Paramount, changes in company leadership, and a complex financial situation are contributing to uncertainty around the company's future.