ABCDEFGHIJKLMNOPQRSTUVWXYZAAABACADAEAFAGAHAIAJAKALAMANAOAPAQARASATAUAVAWAXAYAZBABBBCBDBEBFBGBHBIBJBKBL
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Model Introduction
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Key Inputs1
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Units ($ in millions)
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Company nameParamount
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TickerPARA/PARAA
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SectorEntertainment
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Stub factor90.28%
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LBO date2/6/2024
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Latest 10Q Class A Shares Outstanding
40,702,875
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Latest 10Q Class B Shares Outstanding
610,703,513
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Latest 10K Class A Shares Outstanding
40,704,560
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Latest 10K Class B Shares Outstanding
609,812,293
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Fiscal year end12/31/2024
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Date of latest 10K filing12/31/2022
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Date of latest 10Q filing9/30/2023
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WACC Information (Not used in this analysis)
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After tax cost of debt
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Cost of equity
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Weighted average cost of capital
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Exit
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Proposed entry EV/EBITDA8.6 X
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Proposed exit EV/EBITDA8.6 X
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IRR at exitNM
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Cash on cash multipleNM
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Other assumptions
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Effective tax rate of Paramount as of the latest filing
17.9%
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Use growth or margins?
(Not utilized in this valuation)
Margins
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Circuit BreakerOff
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Mid-year conventionNo
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Background and operations of Paramount:
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Paramount is a global media, streaming, and entertainment company that creates content and experiences for consumers
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worldwide. The company's portfolio includes CBS, Showtime, Paramout Pictures, Nickelodeon, and Paramount+ among
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others. The company operates through three different segments:
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TV Media
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Direct to Consumer
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Filmed Entertainment
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Case Manager
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Active CaseBase Case
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Dividend RecapPIK
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Additional
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Class A (PARAA) Share price as of the LBO analysis
 $ 21.96
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Class B (PARA) Share price as of the LBO analysis
 $ 14.03
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Class A Premium56.52%
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Class A DCF derived price per share
 $ 20.93
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Class B DCF derived price per share
 $ 13.37
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Additional notes:
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