Such a public battle could have left everyone involved bruised. But investors seem to have decided that no one lost, rewarding all three companies. Least surprising was the 12% leap in Netflix’s stock price on news of the deal. Wall Street had thought all along that WBD was an overpriced acquisition. (Netflix would have paid $83 billion to WBD.) Investors were glad to see the streamer put aside its ambition of owning the traditional Hollywood studio. As for WBD itself, investors clearly felt Paramount was paying a decent price for the entire company. On news of the deal, WBD stock barely budged; it was almost exactly where it had been in December when the whole fray began.
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"These deals mostly increase Reddit's visibility and strategic importance, rather than being the original reason people use it," says Oc.
A federal court will conduct a search of devices seized from a Washington Post reporter after a magistrate judge decided yesterday that the Department of Justice cannot be trusted to perform the search on its own.