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Warner Bros. Entertainment Inc. (commonly known as Warner Bros. and abbreviated as WB), is an American diversified multinational mass media and entertainment conglomerate headquartered at the Warner Bros. Studios complex in Burbank, California, and a division of AT&T's WarnerMedia. Founded in 1923 by brothers Harry, Albert, Sam, and Jack Warner, the company established itself as a leader in the American film industry before diversifying into animation, television, and video games, and is one of the "Big Five" major American film studios, as well as a member of the Motion Picture Association (MPA).
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Paramount Global Stock Surges As Skydance Looks To Seal Deal – Update

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UPDATED with stock price: Shares of Paramount Global jumped more than 15% Wednesday afternoon with Skydance chief David Ellison in pole position to clinch a majority stake of National Amusements.

Led by Shari Redstone, National Amusements operates a movie theater circuit and also controls more than three-quarters of Paramount’s voting shares.

A report in Bloomberg just prior to the closing bell indicated that a tentative agreement had been reached between Ellison, a longtime business partner on film and TV projects with Paramount, and Redstone.

Deadline earlier Wednesday had reported that the parties had established a 30-day exclusive negotiating window. PREVIOUSLY: Paramount Global and David Ellison’s Skydance Media have set an exclusive negotiating period for merger talks, Deadline has learned, a sign that things are moving forward after months of speculation.

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