"Apple and Paramount's Streaming Bundle Sparks Surge in Media Stocks"

Media stocks experienced a surge after reports emerged that Apple and Paramount Global are in early-stage discussions to offer a bundled package of their streaming platforms, Apple TV+ and Paramount+. The potential offering aims to provide a cost-effective alternative to subscribing to the services separately. Paramount's shares closed up nearly 10%, while Warner Bros. Discovery, which owns Max streaming service, closed up over 8%. This news comes amidst increasing talks in the media industry about bundling rival streaming services together, with examples including Netflix and Max's agreement with Verizon and Disney's bundle of Hulu, Disney+, and ESPN+.