Communications-services companies rose amid deal activity.

Netflix agreed to buy Warner Bros. Discovery in a $72 billion deal after the entertainment company splits its studios and HBO Max streaming business from its cable networks, a deal that would reshape the entertainment and media industry. Warner Bros. shares rallied.

"On a proforma basis, Netflix should undeniably achieve unprecedented content scale and quality due to content like DC Movies, HBO, Harry Potter, The Big Bang Theory, and Friends," said Divyaunsh Divatia, research analyst at money manager Janus Henderson, in emailed commentary. "Whether that enables it to grow engagement, attract, and retain more subscribers remains to be seen."

The New York Times filed suit against generative-AI startup Perplexity for copyright infringement, expanding its legal fight against artificial-intelligence companies that it says steal and then profit off its content.

Vanity Fair and Olivia Nuzzi said they have agreed to part ways following new revelations and allegations about an affair with Robert F. Kennedy Jr. and her behavior while reporting on him.


Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

12-05-25 1755ET