The Insecure creator and star has signed a first-look producing deal at Paramount that will cover both film and TV. Rae is moving to the Skydance-owned studio after a decade with HBO (which aired Insecure) and its parent company Warner Bros. Discovery.

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Paramount Skydance on Wednesday named Dennis Cinelli as its chief financial officer, effective January 15, replacing interim CFO Andrew Warren.

Rae has spent more time of late behind the camera than in front of it; she starred in a voice role in HBO Max’s animated series Young Love in 2023, but has put a pretty hefty chunk of her recent energy into working as a producer through her Hoorae Media production company.

The media giant called the move an "exercise in urgency theatre —ringing a fire alarm in the absence of any flames or even smoke."

Wall Street analysts have speculated that Paramount will eventually surpass the $30 threshold to win support for its proposal to acquire all of WBD, including CNN. But for now, WBD continues to say that its existing deal to sell Warner Bros. and HBO (but not CNN or other cable assets) to Netflix is in the shareholders’ best interests.

Warner Bros. Discovery clapped back at Paramount Skydance's lawsuit seeking more financial details on WBD's deal with Netflix and said Paramount's continued campaign to try to convince Warner Bros. shareholders that its $30/share offer is superior is an attempt to "distract" investors.

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In a major escalation, Paramount said it is planning to run a slate of directors at WBD's annual meeting and has sued for disclosures around the Netflix deal.