Market Maker

Today we are taking a deep dive into the ongoing M&A saga at Paramount Global, the cable, streaming, and studio conglomerate, responsible for everything from the NFL to Top Gun.

To discuss the deal, we are delighted to speak with AmplifyME Alum and Media Banking expert, Jagger Lambert, who helps us go deep into a brilliant Corporate Finance case study. 

In this episode of the podcast, we discuss:

• Who Paramount Global is – and why the founding Redstone family might well be the main influence for Succession

• Why Paramount is struggling, analysing its position in the declining cable TV market, and its loss making entry into streaming

• Is Paramount up for sale? And is it worth anything?

• Who are the potential buyers – a deep dive into Skybird (owned by Larry Ellison’s son) and Byron Allen (from the Weather Channel to a $30bn bid for Paramount!)

• How an acquisition might be structured in the context of a dual-class share structure and $16bn debt pile.

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This week we discuss the following questions:

• The US Federal Reserve and the Bank of England hold rates but what did they have to say about the timing of rate cuts?

• Microsoft continues to shine while Google shares dropped sharply as search revenues missed. Can Alphabet deliver on its AI plans in 2024?

• Deutsche Bank shares rose 4% on earnings while BNP Paribas fell 8%. What's caused this divergence in investor perception?

• British oil giant Shell released a positive earnings update so what does the year ahead look like for the oil majors?

• A Delaware court has found Tesla CEO Elon Musk's compensation package, valued at $55.8 billion, to be excessive. Can Elon turn this one around?!

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Stephen Barnett picks three real-world stories in the news to unpack the world of corporate finance in practice.

• Amer Sports Inc., the maker of Wilson tennis rackets is seeking to raise as much as $1.8 billion in what would be one of the year’s first major initial public offerings.

• Macy’s has rejected a $5.8 Billion takeover offer from Arkhouse Management Co. and Brigade Capital Management despite the offer representing about a 19% premium on its share price.

• JetBlue tells Spirit Airlines that it may terminate its $3.8 billion buyout offer challenged by US.

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In this week's weekly wrap of global markets, we talk about the forecast-busting US GDP report, the ECB's dovish tone, and Bejing's response to the slowdown in Chinese activity.

In single stocks news, we unpack why Tesla shares fell 12% on Thursday and how Netflix is winning the streaming wars.

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In our latest podcast episode our Director of Corporate Finance, Stephen Barnett unpacks four FT headlines coming out of Davos last week.

• Private Equity predicts deal rebound as sellers capitulate on prices 

• Mistral becomes the talk of Davos as business leaders seek AI gains

• Blackstone boss Steve Schwarzman sees ‘animal spirits’ returning to the financial sector

• Is Davos still worthwhile? 

Take part in our next free M&A Finance Accelerator simulation www.amplifyme.com/mafa

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In our latest review of this week in markets we cover the following topics:

• UK CPI and US Retail Sales surprise analysts. What does this mean for future monetary policy?

• A breakdown of the latest earnings from Goldman Sachs and Morgan Stanley. Who will win the battle of the banking giants?

• Donald Trump wins a landslide victory in Iowa. What next and how AI could transform the 2024 elections

Find out more about AmplifyME at www.amplifyme.com

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BlackRock the world's largest asset manager announced a $12bn M&A deal alongside its Assets Under Management (AUM) topping $10 trillion again.

J.P. Morgan reported its best-ever annual profit, while Citigroup saw the most positive share price response to its earnings despite losing some $1.8 billion in Q4, as investors embrace the turnaround strategy that will see them eliminate 20,000 jobs.

A great episode to better understand the unique merits of each of these different financial institutions.

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Last week it was announced that China's BYD had overtaken Tesla to become the world's leading electric vehicle (EV) seller.

In this episode, we take a deep dive into the business model of Tesla and examine why, despite selling fewer vehicles, it is worth some 10 times more than its Chinese competitor.

We examine the bull and the bear arguments culminating in our Director of Corporate Finance Stephen Barnett sharing his Discounted Cash Flow (DCF) process.

Is Tesla overvalued at a 77x Price-to-Earnings (P/E) ratio? That's more than double Microsoft!

You'll have to tune in to find out.

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Is the market right to price in six rate cuts from the Fed? Will the magnificent seven be seen as growth stocks or defensive plays? Will bonds and stocks be correlated in 2024? Piers breaks down the themes that matter.

Also, the world's biggest hedge funds have revealed their 2023 performance.

In this conversion, we explain what the following terms mean:

• Systematic and discretionary strategies
• Macro and quantamental investing
• Fixed income relative value trades

Don't forget to subscribe and join us on our journey to unpack the major themes in markets every week in 2024.

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Stephen Barnett, our Director of Corporate Finance recaps the pivotal trends that have reshaped the banking landscape this year.

In the second episode of this two-part podcast series, we dive into a countdown of the most defining moments of the year, from 5 to number 1.

From the rise in private credit and partial re-opening of the IPO market to how inflation and interest rates impacted M&A activity.

There are even a few predictions for the year ahead!

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Happy holidays to everyone and see you in the New Year.

Anthony

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