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.
Bodø/Glimt’s 2-1 defeat of Inter at San Siro continued this season’s miracle. The post-match discussion between Inter coach Cristian Chivu and his opposite number, Kjetil Knutsen, was one of admiration, an acknowledgment the Norwegian team had been too good for the runaway Serie A leaders. Even though Inter were without Lautaro Martínez, their standard bearer, a comeback seemed likely as they dominated the early stages. But they found no way through, eventually falling victim to the high-quality, high-speed attacking that had left them with a 3-1 deficit to overcome from the first leg.
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Block, the fintech group headed by Twitter cofounder Jack Dorsey, will cut its workforce by “nearly half” in one of the clearest signs of the sweeping changes AI tools are having on employment.