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Dec 17 (Reuters) – Warner Bros Discovery's board rejected Paramount Skydance's $108.4 billion hostile bid, citing lack of financing assurances. The decision to recommit to Netflix's buyout offer marked the latest twist in the race for assets that include Warner Bros' storied film and TV studio and its extensive film and television library. Here is a timeline from the founding of Time Inc and Warner Bros to the company's latest breakup and potential sale. Date Event 1922 Time Inc was founded by Henry Luce and Briton Hadden to house Time magazine, a weekly news publication that made world affairs accessible to the average reader. The first issue of Time magazine was published in March 1923. 1923 Warner Bros was founded by brothers Harry, Albert, Sam and Jack Warner as a film studio in Hollywood. It revolutionized cinema with the introduction of synchronized sound in films. 1969  Kinney National Company, a conglomerate that later transitioned into media, buys Warner Bros-Seven Arts and later spins off its non-media businesses. 1972 HBO is founded by Charles Dolan with backing from Time. It was the first U.S. subscription-based cable network, offering uncut, commercial-free movies and live sports, pioneering premium cable television. 1990 Time Inc merges with Warner Communications in a $14 billion deal, hailed as a "marriage of content and distribution," creating Time Warner, then the largest media company in the world. 1996  Time Warner merges with Turner Broadcasting, gaining Cartoon Network, CNN, TNT and a vast classic film library. 2000  Time Warner merges with AOL, forming AOL Time Warner, the largest merger in history at the time, aiming to merge traditional and digital media. 2002 AOL Time Warner merger begins to unravel as AOL's value collapses with the launch of an SEC investigation, prompted by allegations of accounting irregularities and inflated revenue reports at AOL. 2003 CEO Steve Case resigns from AOL Time Warner. 2004 Time Warner sells Warner Music to a private equity group led by Edgar Bronfman Jr. for $2.6 billion. 2009 Time Warner fully spins off Time Warner Cable, which had already been partially separated in 2007, ending its role in cable distribution.  2009  Time Warner spins off AOL.  2013 Time Warner spins off Time, its magazine division, which includes Time, People, Fortune and Sports Illustrated, marking its formal exit from publishing. 2016 AT&T announces acquisition of Time Warner for $85 billion. 2018 AT&T completes its acquisition of Time Warner after regulator's approval, renaming it WarnerMedia. 2021 AT&T announces it would spin off WarnerMedia and merge it with Discovery Inc to create a new standalone media company. 2022 WarnerMedia and Discovery complete their merger in a $43 billion deal. June 2025 Warner Bros Discovery announces it would separate into two companies — one focusing on streaming and studios businesses, while the second will house its cable TV assets. October Warner Bros Discovery's board rejects a 2025 Paramount Skydance offer of nearly $60 billion, or $24 per share, a source familiar with the matter exclusively tells Reuters. The company says it is weighing a potential sale amid interest from several suitors. November Axios reports that Warner Bros Discovery's 2025 board wants Paramount Skydance to sweeten its bid to $30 per share, valuing the company at $74.34 billion. November Warner Bros Discovery receives preliminary 2025 buyout bids from Paramount Skydance, Comcast and Netflix — who were asked to improve their offers.  December Warner Bros Discovery receives a second 2025 round of bids, including a mostly cash offer from Netflix. December Paramount Skydance accuses Warner Bros 2025 Discovery of running an unfair sale process that favors Netflix over other bidders, CNBC reports, citing a letter sent by the newly merged media company. December Netflix is in exclusive talks to 2025 buy Warner Bros Discovery's film and television studios along with its streaming assets after offering $28 per share. December Netflix agrees to buy Warner Bros 2025 Discovery's film and TV studios and streaming division for $72 billion, or $27.75 per share. December Paramount Skydance makes a hostile bid for 2025 Warner Bros Discovery in a deal valued at $108.4 billion or $30 per share. December Warner Bros Discovery's board rejected 2025 Paramount Skydance's hostile $108.4 billion bid, saying it failed to provide adequate financing assurances. (Reporting by Kritika Lamba, Meghana Khare, Anhata Rooprai, and Arnav Mishra in Bengaluru; Editing by Leroy Leo and Arun Koyyur)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Milana Vinn and Dawn Chmielewski Dec 16 (Reuters) – Warner Bros Discovery's board could announce a decision as early as Wednesday on Paramount Skydance's $108.4 billion takeover bid, with the board likely to advise shareholders to vote against the offer, according to sources familiar with the matter.  The decision to recommit to Netflix's buyout offer would mark the latest twist in the race for assets that include Warner Bros' storied film and TV studio, and its extensive film and television library, whose portfolio includes classics ranging from "Casablanca" and "Citizen Kane" to contemporary favorites like "Harry Potter" and "Friends". Warner Bros owns the HBO Max streaming service.  A Warner Bros Discovery spokesman declined to comment. Shares of the company were down 1.3% in premarket trading on Wednesday, while Netflix gained 1.8% and Paramount fell 0.7%. The winner will gain a big advantage in the streaming wars by locking up a deep content library that has long been an acquisition target. Netflix earlier this month emerged victorious with a $27 cash-and-stock bid for Warner Bros' non-cable assets. Paramount CEO David Ellison then went directly to Warner Bros' shareholders with a $30-a-share, all-cash bid for the whole company.  In regulatory filings, Paramount has said its bid is superior to Netflix's offer and would enjoy a clearer path to regulatory approval. Its offer is financed by $41 billion in new equity, which is backed by the Ellison family and RedBird Capital, and $54 billion of debt commitments from Bank of America, Citi and Apollo. Jared Kushner's Affinity Partners, which was one of Paramount's financing partners, is exiting the battle, according to Bloomberg. Paramount and Affinity Partners did not immediately respond to Reuters' request for comment. (Reporting by Milana Vinn in New York and Dawn Chmielewski in Los AngelesEditing by Ken Li, Dawn Kopecki and Nick Zieminski)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Milana Vinn and Dawn Chmielewski Dec 16 (Reuters) – Warner Bros Discovery's board could announce a decision as early as Wednesday on Paramount Skydance's $108.4 billion takeover bid, with the board likely to advise shareholders to vote against the offer, according to sources familiar with the matter.  The decision to recommit to Netflix's buyout offer would mark the latest twist in the race for assets that include Warner Bros' storied film and TV studio, and its extensive film and television library, whose portfolio includes classics ranging from "Casablanca" and "Citizen Kane" to contemporary favorites like "Harry Potter" and "Friends". Warner Bros owns the HBO Max streaming service.  A Warner Bros Discovery spokesman declined to comment. Shares of the company were down 1.3% in premarket trading on Wednesday, while Netflix gained 1.8% and Paramount fell 0.7%. The winner will gain a big advantage in the streaming wars by locking up a deep content library that has long been an acquisition target. Netflix earlier this month emerged victorious with a $27 cash-and-stock bid for Warner Bros' non-cable assets. Paramount CEO David Ellison then went directly to Warner Bros' shareholders with a $30-a-share, all-cash bid for the whole company.  In regulatory filings, Paramount has said its bid is superior to Netflix's offer and would enjoy a clearer path to regulatory approval. Its offer is financed by $41 billion in new equity, which is backed by the Ellison family and RedBird Capital, and $54 billion of debt commitments from Bank of America, Citi and Apollo. Jared Kushner's Affinity Partners, which was one of Paramount's financing partners, is exiting the battle, according to Bloomberg. Paramount and Affinity Partners did not immediately respond to Reuters' request for comment. (Reporting by Milana Vinn in New York and Dawn Chmielewski in Los AngelesEditing by Ken Li, Dawn Kopecki and Nick Zieminski)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

(Fixes wording in paragraph 2.) By Milana Vinn and Dawn Chmielewski Dec 16 (Reuters) – Warner Bros Discovery's board could announce a decision as early as Wednesday on Paramount Skydance's $108.4 billion takeover bid, with the board likely to advise shareholders to vote against the offer, according to sources familiar with the matter.  The decision to recommit to Netflix's buyout offer would mark the latest twist in the race for assets that include Warner Bros' storied film and TV studio, and its extensive film and television library, whose portfolio includes classics ranging from "Casablanca" and "Citizen Kane" to contemporary favorites like "Harry Potter" and "Friends". Warner Bros owns the HBO Max streaming service.  A Warner Bros Discovery spokesman declined to comment. The winner will gain a big advantage in the streaming wars by locking up a deep content library that has long been an acquisition target. Netflix earlier this month emerged victorious with a $27 cash-and-stock bid for Warner Bros' non-cable assets. Paramount CEO David Ellison then went directly to Warner Bros' shareholders with a $30-a-share, all-cash bid for the whole company.  In regulatory filings, Paramount has said its bid is superior to Netflix's offer and would enjoy a clearer path to regulatory approval. Its offer is financed by $41 billion in new equity, which is backed by the Ellison family and RedBird Capital, and $54 billion of debt commitments from Bank of America, Citi and Apollo. Jared Kushner's Affinity Partners, which was one of Paramount's financing partners, is exiting the battle, according to Bloomberg. Paramount and Affinity Partners did not immediately respond to Reuters' request for comment. (Reporting by Milana Vinn in New York and Dawn Chmielewski in Los AngelesEditing by Ken Li, Dawn Kopecki and Nick Zieminski)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Jane Ross and Steve Gorman LOS ANGELES, Dec 16 (Reuters) – The younger son of Hollywood filmmaker and political activist Rob Reiner was formally charged on Tuesday with first-degree murder in the stabbing deaths of his parents, who were found slain in their Los Angeles home over the weekend. Nick Reiner, 32, was arrested several hours after the bodies of his father, actor-director Rob Reiner, 78, and mother, photographer-producer Michele Reiner, 70, were discovered on Sunday afternoon in the couple's house in the affluent west LA neighborhood of Brentwood. Officials said evidence gathered by the Los Angeles Police Department led homicide detectives to Reiner, who was taken into custody without incident on Sunday night at a park in downtown Los Angeles near the campus of the University of Southern California. Police investigators turned over the case to the district attorney's Office on Tuesday. A five-page criminal complaint containing two counts of first-degree murder were filed against Nick Reiner later in the day in Los Angeles County Superior Court. The killings ranked among the most shocking celebrity murders in Los Angeles history, eliciting comparisons by some to the stabbing deaths of O.J. Simpson's ex-wife Nicole Brown Simpson and a friend, Ron Goldman in 1994. "Their loss is beyond tragic," County District Attorney Nathan Hochman said of the Reiners at a news conference earlier in the day. "We will commit ourselves to bringing their murderer to justice." PROSECUTORS WEIGH CAPITAL PUNISHMENT Hochman said the charges carry a maximum penalty of life in prison without the possibility of parole, or capital punishment, but prosecutors have yet to decide whether to seek the death penalty in the case. He said prosecutors "will take the thoughts and desires of the family into consideration" in making such decisions. According to the district attorney and the charging documents, a knife was used in the killings, but no further details were given about the circumstances of the slayings. Authorities have made no mention of a possible motive. Asked whether the murder weapon was recovered, Hochman said that would be revealed in court. Authorities said autopsies, which have to be completed, would determine the precise cause, manner and times of death. Various news media outlets have reported that Nick Reiner had a heated quarrel with his parents on Saturday night at a holiday party hosted by comedian Conan O'Brien.  Nick Reiner, the younger of the Reiners' two sons and their middle child, has publicly acknowledged a years-long struggle with substance abuse. He has remained held without bail at a Los Angeles County lockup since he was booked on suspicion of murder on Sunday night. Neither Hochman nor Los Angeles Police Chief Jim McDonnell would say whether Reiner was under the influence of any drugs or alcohol when he was arrested, or whether he gave any statements to police. Prominent Los Angeles defense attorney Alan Jackson, representing Reiner, said his client had yet to be medically cleared for his initial court appearance on Tuesday, but would possibly be arraigned on Wednesday. Obtaining medical clearance for court appearances was routine for all criminal defendants, Hochman said. ROB REINER'S HOLLYWOOD LEGACY Nick Reiner has spoken about periods of homelessness that occurred when he refused to seek treatment for substance abuse, saying he entered rehab for the first of many instances at age 15. Those experiences inspired the movie "Being Charlie," co-written by Reiner and his father. "It was the most personal thing I've ever been involved in," Rob Reiner told podcaster Marc Maron in 2016. As an actor, Rob Reiner was best remembered for his role on the TV comedy "All in the Family" as Mike "Meathead" Stivic, the son-in-law and liberal foil of the lead character, working-class bigot Archie Bunker, played by Carroll O'Connor. Reiner went on to a prolific Hollywood career as a filmmaker, directing such popular movies as "This Is Spinal Tap," "The Princess Bride," "When Harry Met Sally…," "Stand by Me," "A Few Good Men," "Misery" and "The American President."   A sequel to the mockumentary "This Is Spinal Tap" was released this year, 41 years after the original. His wife, Michele, was at one time a photographer who captured the image of Donald Trump that appears on the cover of his book "Trump: The Art of the Deal." She and Rob Reiner met while he was directing "When Harry Met Sally" and they married in 1989. Rob Reiner, a native of New York City and son of the late comedy writer and actor Carl Reiner, also was well known for his political activism and as a supporter of the Democratic Party. He was first married to Penny Marshall, who starred in the TV sitcom "Laverne & Shirley," and was also a producer and director. He was the adoptive father to Marshall's daughter. (Reporting by Jane Ross and Steve Gorman in Los Angeles; Additional reporting by Andrew Hay and Brad Brooks; Editing by Bill Berkrot, Nick Zieminski and David Gregorio)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Jane Ross and Steve Gorman LOS ANGELES, Dec 16 (Reuters) – The younger son of Hollywood filmmaker and political activist Rob Reiner was formally charged on Tuesday with first-degree murder in the stabbing deaths of his parents, who were found slain in their Los Angeles home over the weekend. Nick Reiner, 32, was arrested several hours after the bodies of his father, actor-director Rob Reiner, 78, and mother, photographer-producer Michele Reiner, 70, were discovered on Sunday afternoon in the couple's house in the affluent west LA neighborhood of Brentwood. Officials said evidence gathered by the Los Angeles Police Department led homicide detectives to Reiner, who was taken into custody without incident on Sunday night at a park in downtown Los Angeles near the campus of the University of Southern California. Police investigators turned over the case to the district attorney's Office on Tuesday. A five-page criminal complaint containing two counts of first-degree murder were filed against Nick Reiner later in the day in Los Angeles County Superior Court. The killings ranked among the most shocking celebrity murders in Los Angeles history, eliciting comparisons by some to the stabbing deaths of O.J. Simpson's ex-wife Nicole Brown Simpson and a friend, Ron Goldman in 1994. "Their loss is beyond tragic," County District Attorney Nathan Hochman said of the Reiners at a news conference earlier in the day. "We will commit ourselves to bringing their murderer to justice." PROSECUTORS WEIGH CAPITAL PUNISHMENT Hochman said the charges carry a maximum penalty of life in prison without the possibility of parole, or capital punishment, but prosecutors have yet to decide whether to seek the death penalty in the case. He said prosecutors "will take the thoughts and desires of the family into consideration" in making such decisions. According to the district attorney and the charging documents, a knife was used in the killings, but no further details were given about the circumstances of the slayings. Authorities have made no mention of a possible motive. Asked whether the murder weapon was recovered, Hochman said that would be revealed in court. Authorities said autopsies, which have to be completed, would determine the precise cause, manner and times of death. Various news media outlets have reported that Nick Reiner had a heated quarrel with his parents on Saturday night at a holiday party hosted by comedian Conan O'Brien.  Nick Reiner, the younger of the Reiners' two sons and their middle child, has publicly acknowledged a years-long struggle with substance abuse. He has remained held without bail at a Los Angeles County lockup since he was booked on suspicion of murder on Sunday night. Neither Hochman nor Los Angeles Police Chief Jim McDonnell would say whether Reiner was under the influence of any drugs or alcohol when he was arrested, or whether he gave any statements to police. Prominent Los Angeles defense attorney Alan Jackson, representing Reiner, said his client had yet to be medically cleared for his initial court appearance on Tuesday, but would possibly be arraigned on Wednesday. Obtaining medical clearance for court appearances was routine for all criminal defendants, Hochman said. ROB REINER'S HOLLYWOOD LEGACY Nick Reiner has spoken about periods of homelessness that occurred when he refused to seek treatment for substance abuse, saying he entered rehab for the first of many instances at age 15. Those experiences inspired the movie "Being Charlie," co-written by Reiner and his father. "It was the most personal thing I've ever been involved in," Rob Reiner told podcaster Marc Maron in 2016. As an actor, Rob Reiner was best remembered for his role on the TV comedy "All in the Family" as Mike "Meathead" Stivic, the son-in-law and liberal foil of the lead character, working-class bigot Archie Bunker, played by Carroll O'Connor. Reiner went on to a prolific Hollywood career as a filmmaker, directing such popular movies as "This Is Spinal Tap," "The Princess Bride," "When Harry Met Sally…," "Stand by Me," "A Few Good Men," "Misery" and "The American President."   A sequel to the mockumentary "This Is Spinal Tap" was released this year, 41 years after the original. His wife, Michele, was at one time a photographer who captured the image of Donald Trump that appears on the cover of his book "Trump: The Art of the Deal." She and Rob Reiner met while he was directing "When Harry Met Sally" and they married in 1989. Rob Reiner, a native of New York City and son of the late comedy writer and actor Carl Reiner, also was well known for his political activism and as a supporter of the Democratic Party. He was first married to Penny Marshall, who starred in the TV sitcom "Laverne & Shirley," and was also a producer and director. He was the adoptive father to Marshall's daughter. (Reporting by Jane Ross and Steve Gorman in Los Angeles; Additional reporting by Andrew Hay and Brad Brooks; Editing by Bill Berkrot, Nick Zieminski and David Gregorio)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Jane Ross and Steve Gorman LOS ANGELES, Dec 16 (Reuters) – The younger son of Hollywood filmmaker and political activist Rob Reiner was formally charged on Tuesday with first-degree murder in the stabbing deaths of his parents, who were found slain in their Los Angeles home over the weekend. Nick Reiner, 32, was arrested several hours after the bodies of his father, actor-director Rob Reiner, 78, and mother, photographer-producer Michele Reiner, 70, were discovered on Sunday afternoon in the couple's house in the affluent west LA neighborhood of Brentwood. Officials said evidence gathered by the Los Angeles Police Department led homicide detectives to Reiner, who was taken into custody without incident on Sunday night at a park in downtown Los Angeles near the campus of the University of Southern California. Police investigators turned over the case to the district attorney's Office on Tuesday. A five-page criminal complaint containing two counts of first-degree murder were filed against Nick Reiner later in the day in Los Angeles County Superior Court. The killings ranked among the most shocking celebrity murders in Los Angeles history, eliciting comparisons by some to the stabbing deaths of O.J. Simpson's ex-wife Nicole Brown Simpson and a friend, Ron Goldman in 1994. "Their loss is beyond tragic," County District Attorney Nathan Hochman said of the Reiners at a news conference earlier in the day. "We will commit ourselves to bringing their murderer to justice." PROSECUTORS WEIGH CAPITAL PUNISHMENT Hochman said the charges carry a maximum penalty of life in prison without the possibility of parole, or capital punishment, but prosecutors have yet to decide whether to seek the death penalty in the case. He said prosecutors "will take the thoughts and desires of the family into consideration" in making such decisions. According to the district attorney and the charging documents, a knife was used in the killings, but no further details were given about the circumstances of the slayings. Authorities have made no mention of a possible motive. Asked whether the murder weapon was recovered, Hochman said that would be revealed in court. Authorities said autopsies, which have to be completed, would determine the precise cause, manner and times of death. Various news media outlets have reported that Nick Reiner had a heated quarrel with his parents on Saturday night at a holiday party hosted by comedian Conan O'Brien.  Nick Reiner, the younger of the Reiners' two sons and their middle child, has publicly acknowledged a years-long struggle with substance abuse. He has remained held without bail at a Los Angeles County lockup since he was booked on suspicion of murder on Sunday night. Neither Hochman nor Los Angeles Police Chief Jim McDonnell would say whether Reiner was under the influence of any drugs or alcohol when he was arrested, or whether he gave any statements to police. Prominent Los Angeles defense attorney Alan Jackson, representing Reiner, said his client had yet to be medically cleared for his initial court appearance on Tuesday, but would possibly be arraigned on Wednesday. Obtaining medical clearance for court appearances was routine for all criminal defendants, Hochman said. ROB REINER'S HOLLYWOOD LEGACY Nick Reiner has spoken about periods of homelessness that occurred when he refused to seek treatment for substance abuse, saying he entered rehab for the first of many instances at age 15. Those experiences inspired the movie "Being Charlie," co-written by Reiner and his father. "It was the most personal thing I've ever been involved in," Rob Reiner told podcaster Marc Maron in 2016. As an actor, Rob Reiner was best remembered for his role on the TV comedy "All in the Family" as Mike "Meathead" Stivic, the son-in-law and liberal foil of the lead character, working-class bigot Archie Bunker, played by Carroll O'Connor. Reiner went on to a prolific Hollywood career as a filmmaker, directing such popular movies as "This Is Spinal Tap," "The Princess Bride," "When Harry Met Sally…," "Stand by Me," "A Few Good Men," "Misery" and "The American President."   A sequel to the mockumentary "This Is Spinal Tap" was released this year, 41 years after the original. His wife, Michele, was at one time a photographer who captured the image of Donald Trump that appears on the cover of his book "Trump: The Art of the Deal." She and Rob Reiner met while he was directing "When Harry Met Sally" and they married in 1989. Rob Reiner, a native of New York City and son of the late comedy writer and actor Carl Reiner, also was well known for his political activism and as a supporter of the Democratic Party. He was first married to Penny Marshall, who starred in the TV sitcom "Laverne & Shirley," and was also a producer and director. He was the adoptive father to Marshall's daughter. (Reporting by Jane Ross and Steve Gorman in Los Angeles; Additional reporting by Andrew Hay and Brad Brooks; Editing by Bill Berkrot, Nick Zieminski and David Gregorio)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Milana Vinn and Dawn Chmielewski Dec 16 (Reuters) – Warner Bros Discovery's board could announce a decision as early as Wednesday on Paramount Skydance's $108.4 billion takeover bid, with the board likely to advise shareholders to vote against the offer, according to sources familiar with the matter.  The decision to recommit to Netflix's buyout offer would mark the latest twist in the race for assets that include Warner Bros' storied film and TV studio, and its extensive film and television library, whose portfolio includes classics ranging from "Casablanca" and "Citizen Kane" to contemporary favorites like "Harry Potter" and "Friends," HBO and the HBO Max streaming service.  A Warner Bros Discovery spokesman declined to comment. The winner will gain a big advantage in the streaming wars by locking up a deep content library that has long been an acquisition target.  Netflix earlier this month emerged victorious with a $27 cash-and-stock bid for Warner Bros' non-cable assets. Paramount CEO David Ellison then went directly to Warner Bros shareholders with a $30-a-share, all-cash bid for the whole company.  In regulatory filings, Paramount has said its bid is superior to Netflix's offer and would enjoy a clearer path to regulatory approval. Its offer is financed by $41 billion in new equity, which is backed by the Ellison family and RedBird Capital, and $54 billion of debt commitments from Bank of America, Citi and Apollo. (Reporting by Milana Vinn in New York and Dawn Chmielewski in Los AngelesEditing by Ken Li, Dawn Kopecki and Nick Zieminski)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)