Communications-services companies rose amid deal intrigue.
Warner Bros Discovery shares rose after a hostile bid from Paramount Skydance kept a battle for a tie-up with the Hollywood studio and streaming service alive.
Shares of Paramount surged after David Ellison's company offered to buy for about $77.9 billion, or $30 a share, betting the $72 billion, or $27.75 a share, deal with rival Netflix.
Ellison had previously appealed to Warner executives, claiming that a Netflix deal would likely run afoul of antitrust regulations. Netflix shares fell in the wake of Paramount's spoiler attempt.
"The addition of Warner's intellectual property, TV and film library, and current production slate will make it much harder, in our view, for others to challenge Netflix's streaming video entertainment leadership position in the future given the unmatched scale Netflix will have in general entertainment content production," said analysts at brokerage Deutsche Bank.
The maker of an app that tracks immigration agents has sued several Trump administration officials, saying they censored his speech through a pressure campaign that ultimately resulted in the app being removed from Apple's App Store.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
12-08-25 1753ET
