Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Bottom-Up

<ul>
 <li>
<a href="https://smartkarma.com/entities/paramount-global">Paramount Global</a> is navigating a significant industry-wide transition from linear television to streaming, a shift that pressures its legacy cable and broadcast businesses while offering growth opportunities in its Direct-to-Consumer (DTC) segment.</li>
 <li>The company possesses a deep and valuable content library and iconic brands, including Paramount Pictures, CBS, Nickelodeon, and MTV, which serve as a key competitive advantage in the crowded streaming landscape.</li>
 <li>High debt levels, intense competition, and uncertainty surrounding corporate strategy and potential M&amp;A activity are major overhangs for the company, creating a high-risk, high-reward investment profile.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  
Paramount Global is navigating a significant industry-wide transition from linear television to streaming, a shift that pressures its legacy cable and broadcast businesses while offering growth opportunities in its Direct-to-Consumer (DTC) segment.
  The company possesses a deep and valuable content library and iconic brands, including Paramount Pictures, CBS, Nickelodeon, and MTV, which serve as a key competitive advantage in the crowded streaming landscape.
  High debt levels, intense competition, and uncertainty surrounding corporate strategy and potential M&amp;A activity are major overhangs for the company, creating a high-risk, high-reward investment profile.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Paramount Global (PARA US) - Aug 2026

Founder at Stock Spin-off Investing, Stock Spin-Off Investing

Richard Howe

Founder at Stock Spin-off Investing

Stock Spin-Off Investing

Generate attractive returns by taking advantage of inefficiencies in the stock spin-off market.

Stock Spin-offs

Event-Driven

<ul><li>On a sum-of-the-parts basis, LION and STRZ are worth significantly more than is reflected in LGF.A’s stock price.</li><li>At the close today, investors could buy 1 share of Lionsgate Entertainment (LGF.A) for $8.90. On May 6, that investor will receive 1.12 shares of LION and 1.12 shares of STRZ.</li><li>I estimate LION is worth $11 and STRZ is worth $1.71. As such, it looks like there is ~60% upside</li></ul>

On a sum-of-the-parts basis, LION and STRZ are worth significantly more than is reflected in LGF.A’s stock price.At the close today, investors could buy 1 share of Lionsgate Entertainment (LGF.A) for $8.90. On May 6, that investor will receive 1.12 shares of LION and 1.12 shares of STRZ.I estimate LION is worth $11 and STRZ is worth $1.71. As such, it looks like there is ~60% upside

TMT & Consumer Independent Equity Research Analyst, Obex Capital Research

Aaron Gabin

TMT & Consumer Independent Equity Research Analyst

TMT & Consumer Independent Equity Research

Obex Capital Research

“Obex” is Latin for Barriers to Entry. Obex Capital Management’s investment philosophy is driven by an intense focus on which business model’s Barriers to Entry are able to withstand the ever increasing competitive disruption in the TMT and Consumer Sectors.

Thematic (Sector/Industry)

<ul>
<li>New data from Deloitte shows US streaming subscription churn is 35% and over 50% for younger demographics. Whoa!</li>
<li>Competition for attention and competition for the wallet are causes, a combination of the volume of streaming services combined with social media, gaming, and UGC....many of which are free. </li>
<li>The LT takeaway is streaming services likely have to rely on free-ad supported tiers to retain customers. Higher customer acquisition costs and lower multiple ad revenues not good for streamers.</li>
</ul>


New data from Deloitte shows US streaming subscription churn is 35% and over 50% for younger demographics. Whoa!
Competition for attention and competition for the wallet are causes, a combination of the volume of streaming services combined with social media, gaming, and UGC....many of which are free. 
The LT takeaway is streaming services likely have to rely on free-ad supported tiers to retain customers. Higher customer acquisition costs and lower multiple ad revenues not good for streamers.


Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

US Treasury (10 Yr Generic) / Technical Analysis

Ongoing market dynamics continue to support our overall bullish outlook. Continue to buy dips. In today’s report we highlight attractive Groups and stocks within Communications and Transportation: Broadcasting, Movies, Entertainment, Programming, Small-Cap, Publishing, Small-Cap, and Shipping, Dry-Bulk.

Ongoing market dynamics continue to support our overall bullish outlook. Continue to buy dips. In today’s report we highlight attractive Groups and stocks within Communications and Transportation: Broadcasting, Movies, Entertainment, Programming, Small-Cap, Publishing, Small-Cap, and Shipping, Dry-Bulk.

U.S. Equity Strategy: Upgrading Communications To Overweight; Financials Breaking Above 2007 Highs

New Zealand Professional Investment Services Firm, Forsyth Barr

Forsyth Barr

New Zealand Professional Investment Services Firm

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

Sky Network Television / Equity Bottom-Up

<ul>
<li>Sky TV (SKT)’s competitive backdrop is becoming more challenging, both in entertainment and sports, but to varying degrees.</li>
<li>We modestly reduce our earnings estimates but retain OUTPERFORM.</li>
<li>We believe dividends can grow from FY26 and see its ~13% gross dividend yield as attractive.</li>
</ul>


Sky TV (SKT)’s competitive backdrop is becoming more challenging, both in entertainment and sports, but to varying degrees.
We modestly reduce our earnings estimates but retain OUTPERFORM.
We believe dividends can grow from FY26 and see its ~13% gross dividend yield as attractive.


United States

Paramount Global operates as a media company. The Company produces and distributes entertainment content through studios, networks, streaming services, live events, and merchandise. Paramount Global serves customers worldwide.

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Paramount Global (PARA US)

Primer: Paramount Global (PARA US) - Aug 2026

Paramount Global is navigating a significant industry-wide transition from linear television to streaming, a shift that pressures its legacy...

αSK Primers

[Alert] Buy Lionsgate Entertainment

On a sum-of-the-parts basis, LION and STRZ are worth significantly more than is reflected in LGF.A’s stock price. At the close today, investors...

Richard Howe

Streaming's New Hamster Wheel

New data shows US streaming subscription churn is 35% and over 50% for younger demographics. To compete, streamers will have to rely more on free...

Aaron Gabin

U.S. Equity Strategy: Upgrading Communications To Overweight; Financials Breaking Above 2007 Highs

Ongoing market dynamics continue to support our overall bullish outlook. Continue to buy dips. In today’s report we highlight attractive Groups and...

Vermilion Research

Sky TV Playing Defense

Sky TV (SKT)’s competitive backdrop is becoming more challenging, both in entertainment and sports, but to varying degrees. We modestly reduce our...

Forsyth Barr

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