The markets delivered a clear verdict on the midterms. The Dow surged over 1,000 points in its best post-election day rally in 44 years as a resounding Democratic sweep removed the specter of a unified Republican government. Wall Street is betting that a divided government will temper policy extremes, particularly on trade and the AI agenda, even as it introduces new scrutiny for Trump-linked media executives. The CNN Business report on the rally notes that the Magnificent Seven stocks also rebounded sharply, with Apple and Amazon each up more than 6%, suggesting investors are rotating back into big tech after months of uncertainty. Earnings season reinforced the diverging fortunes of media and tech. The New York Times added 420,000 digital subscribers in Q3, pushing total paid subs to 13.8 million and keeping it on track for 15 million by 2027, while revenue and profit both beat expectations. Sony Pictures saw operating income explode 527% on the back of the latest Spider-Man blockbuster. But Snap disappointed, dropping 9% after hours despite revenue growth, and Nintendo reported a 41% plunge in Switch 2 sales as price hikes and memory constraints bite. Meanwhile, Sinclair Broadcasting rode a wave of political ad spending to a $43 million profit, and News Corp posted solid gains at Dow Jones and HarperCollins. Regulatory and political crosswinds are intensifying. The UK government has asked Ofcom to investigate Comcast's Sky over its proposed $2.1 billion takeover of ITV, citing media plurality concerns. Trump is appealing the dismissal of his $10 billion defamation suit against the Wall Street Journal, and he publicly blamed Fox News for the GOP's losses. In a notable AI-media deal, Anthropic licensed content from the Associated Press just before the midterms, marking the first time the AI company paid a digital publisher. And with Democrats now controlling Congress, media executives like David Ellison should expect hearings on their deals and Trump ties.