Paramount is expected to merge its Paramount+ service with Warner Bros' HBO Max to create what it hopes would be a must-have streaming service that can hold its own against competitors Netflix, Amazon and Disney.
Most unexpected was Paramount stock’s jump. Wall Street almost always disdains giant acquisitions on the theory that buyers get too excited about big deals and overpay—and indeed, that’s usually what happens. When the deal gets sealed, the buyer’s stock usually drops, but in this case it rose almost 30%. That’s probably because analysts were pleasantly surprised: They had figured Paramount would need to raise its offer from $30 to $32–$34 a share to vanquish Netflix; instead, Paramount offered just $31 and prevailed.
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Since then, she's racked up over one billion streams and scored a major worldwide hit with 2023's Boy's a Liar, Pt. 2. Last year's punchy, sample-heavy mixtape Fancy That became her first top 10 album and was nominated for the Mercury Prize.
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