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What Is Paramount Actually Worth?

Exploring the value, and content synergies, among CBS, Nickelodeon, and the Taylor Sheridan Cinematic Universe, among other assets within Paramount Global.

The argument for breaking up Shari Redstone’s Paramount Global, of course, is that its parts would be worth more than the whole.
The argument for breaking up Shari Redstone’s Paramount Global, of course, is that its parts would be worth more than the whole. Photo: Drew Angerer/Getty Images
Julia Alexander
December 20, 2023

Ever since my Puck partner Matt Belloni broke the news that Skydance’s David Ellison and RedBird Capital’s Gerry Cardinale were kicking the tires on the Redstone family’s National Amusements Inc., the parent company of Paramount Global, the market has been rooting for a change. Paramount’s stock initially popped more than 14 percent on the news, before settling slightly as Wall Street digested the potential limitations of any deal. Meanwhile, this Redstone saga has become catnip at Puck, where my other partner Bill Cohan has produced investor-grade analysis of the opportunity.