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Dec 22 (Reuters) – Oracle co-founder Larry Ellison has agreed to personally guarantee $40.4 billion of the equity financing for Paramount Skydance's bid to acquire Warner Bros Discovery. The move marks the latest chapter in the race for assets that include Warner Bros' iconic film and TV studio and its vast library of movies and television shows. 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 rejects 2025 Paramount Skydance's hostile $108.4 billion bid, saying it failed to provide adequate financing assurances. Paramount Skydance December amends its offer 2025 to buy Warner Bros Discovery to include a $40.4 billion personal guarantee from Larry Ellison. (Reporting by Kritika Lamba, Meghana Khare, Anhata Rooprai, and Arnav Mishra in Bengaluru; Editing by Leroy Leo and Arun Koyyur)

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(This December 19 story has been repeated without any changes to the text.) By Steve Gorman Dec 19 (Reuters) – A U.S. federal judge on Friday overturned the conviction of one of two men found guilty of murdering pioneering rap star Jam Master Jay in 2002 as part of a drug-dealing dispute, ruling that prosecutors had failed to satisfactorily prove their case. U.S. District Judge LaShann DeArcy Hall granted a rare judgment of acquittal for Karl Jordan, whom a jury had found guilty in the shooting death of Jason Mizell, the legal name of the famed rap DJ, producer and founding member of the hip-hop group Run-DMC. The judge denied a similar request for Jordan's co-defendant, Ronald Washington. Jordan, the godson of Mizell, and Washington, a longtime friend of the rap artist, were found guilty in February 2024 on federal charges of murder while engaged in narcotics trafficking. The U.S. attorney's office in the Eastern District of New York state, where the case was tried, is reviewing the decision, a spokesperson told The New York Times. Mizell and his Run-DMC bandmates helped usher rap into the pop mainstream in the 1980s with such hits as "It's Tricky" and a cover of Aerosmith's "Walk This Way" off the best-selling 1986 album "Raising Hell." The group was known for decidedly anti-drug messages in its lyrics and concerts. But as Mizell's showbiz success waned in the 1990s, he turned to dealing cocaine to help fund his music career, according to evidence presented at trial. Mizell was shot dead the night of October 30, 2002, in his New York City recording studio, in what the prosecutors said was a disagreement with Jordan and Washington stemming from a lucrative deal to distribute cocaine in Baltimore. Prosecutors said the case took many years to solve because witnesses were reluctant to cooperate with investigators for fear of retribution. The government's case, as charged, hinged in part on proving a drug-related motive for the killing, the judge ruled. Prosecutors argued in court that Jordan and Washington conspired to kill Mizell, who operated as a "middleman," after he cut them out of the Baltimore drug deal. However, Judge DeArcy Hall found that prosecutors presented no evidence that Jordan had been cut or felt dissatisfied with his share of drug proceeds – leaving no reason for retaliation – and no evidence that he intended to steal from Mizell's supplies. "To draw the conclusions urged by the government would exceed the bounds of reason and require plainly impermissible speculation" on the part of the jury, the judge wrote in a 29-page opinion. A third defendant, Jay Bryant, also was indicted in the killing and faces a separate trial. Jordan has maintained that Bryant shot Mizell. According to prosecutors' account, Jordan shot Mizell in the head at close range when the DJ stood up to greet his godson. The government said Bryant had entered the studio and let in Jordan and Washington, both armed with handguns, through a locked rear fire exit. (Reporting by Steve Gorman in Los Angeles; Editing by William Mallard)

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By Lisa Richwine Dec 21 (Reuters) – Director James Cameron's third "Avatar" movie kicked off its box office run with roughly $345 million in global ticket sales through Sunday, meeting pre-weekend forecasts for the epic movie franchise from Walt Disney. "Avatar: Fire and Ash" ranked as the second-highest Hollywood movie debut for 2025, behind only the $556 million for Disney's "Zootopia 2" in November. The movie topped box office charts in the United States and Canada, where it brought in $88 million of its worldwide total, according to Disney estimates. "Fire and Ash" continues the story of the nine-foot-tall blue Na'vi people on a lush planet named Pandora. The domestic total came in 35% lower than 2022's "Avatar: The Way of Water," the sequel released 13 years after the first film enchanted audiences with stunning visual effects. With "Fire and Ash," "audiences didn't miss it as much as they did when it came to the sequel," said Jeff Bock, senior box office analyst at Exhibitor Relations Co. Still, "it is a great start for the holiday corridor," Bock said, noting the enthusiasm for moviegoing around Christmas and New Year's Day. "There is a huge box office avalanche over the next two or three weekends." Theaters hope "Fire and Ash" sparks a resurgence in moviegoing that extends into next year. Year-to-date ticket sales hovered at 1.3% above 2024 but 22.5% below the pre-pandemic year of 2019, according to Comscore data. Cinema operators believe they have a strong 2026 lineup including "Avengers: Doomsday," "Dune: Part Three," Christopher Nolan's "The Odyssey" and "Star Wars" movie "The Mandalorian and Grogu." Cameron's blockbusters tend to keep piling up sales for weeks longer than others. "Fire and Ash" was released three days closer to Christmas than "The Way of Water," suggesting holiday commitments may have kept people from theaters over opening weekend. Zoe Saldana and Sam Worthington voice the lead "Avatar" characters, portraying two parents forced to fight to protect their family and their planet. Cameron has acknowledged the "Avatar" movies are expensive and need to reap huge returns to keep the series going. Disney has not disclosed the films' budgets.  The first "Avatar" film released in 2009 racked up $2.9 billion in global ticket sales. The "Way of Water" pulled in $2.3 billion. A fourth and fifth "Avatar" film are scheduled for release in 2029 and 2031. (Reporting by Lisa Richwine; Editing by Chizu Nomiyama)

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

Dec 21 (Reuters) – Director James Cameron's third "Avatar" movie adventure racked up roughly $345 million in global box office sales over its opening weekend, distributor Walt Disney said on Sunday. The estimated sales for "Avatar: Fire and Ash" landed in line with pre-weekend forecasts of at least $340 million. U.S. and Canadian box offices accounted for $88 million of the total, Disney said. Zoe Saldana and Sam Worthington voice the lead characters in the "Avatar" series, the story of a clan of 9-foot-tall blue people known as Na'vi who are forced to fight to protect their family and their planet. The first "Avatar" film, released in 2009, leads all-time box office charts with $2.9 billion in global ticket sales. The 2022 sequel "Avatar: The Way of Water" ranks third with $2.3 billion. (Reporting by Lisa Richwine; Editing by Chizu Nomiyama )

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

Dec 21 (Reuters) – Director James Cameron's third "Avatar" movie adventure racked up roughly $345 million in global box office sales over its opening weekend, distributor Walt Disney said on Sunday. The estimated sales for "Avatar: Fire and Ash" landed in line with pre-weekend forecasts.

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

Dec 21 (Reuters) – Director James Cameron's third "Avatar" movie adventure racked up roughly $345 million in global box office sales over its opening weekend, distributor Walt Disney said on Sunday. The estimated sales for "Avatar: Fire and Ash" landed in line with pre-weekend forecasts.

(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 Steve Gorman Dec 19 (Reuters) – A U.S. federal judge on Friday overturned the conviction of one of two men found guilty of murdering pioneering rap star Jam Master Jay in 2002 as part of a drug-dealing dispute, ruling that prosecutors had failed to satisfactorily prove their case. U.S. District Judge LaShann DeArcy Hall granted a rare judgment of acquittal for Karl Jordan, whom a jury had found guilty in the shooting death of Jason Mizell, the legal name of the famed rap DJ, producer and founding member of the hip-hop group Run-DMC. The judge denied a similar request for Jordan's co-defendant, Ronald Washington. Jordan, the godson of Mizell, and Washington, a longtime friend of the rap artist, were found guilty in February 2024 on federal charges of murder while engaged in narcotics trafficking. The U.S. attorney's office in the Eastern District of New York state, where the case was tried, is reviewing the decision, a spokesperson told The New York Times. Mizell and his Run-DMC bandmates helped usher rap into the pop mainstream in the 1980s with such hits as "It's Tricky" and a cover of Aerosmith's "Walk This Way" off the best-selling 1986 album "Raising Hell." The group was known for decidedly anti-drug messages in its lyrics and concerts. But as Mizell's showbiz success waned in the 1990s, he turned to dealing cocaine to help fund his music career, according to evidence presented at trial. Mizell was shot dead the night of October 30, 2002, in his New York City recording studio, in what the prosecutors said was a disagreement with Jordan and Washington stemming from a lucrative deal to distribute cocaine in Baltimore. Prosecutors said the case took many years to solve because witnesses were reluctant to cooperate with investigators for fear of retribution. The government's case, as charged, hinged in part on proving a drug-related motive for the killing, the judge ruled. Prosecutors argued in court that Jordan and Washington conspired to kill Mizell, who operated as a "middleman," after he cut them out of the Baltimore drug deal. However, Judge DeArcy Hall found that prosecutors presented no evidence that Jordan had been cut or felt dissatisfied with his share of drug proceeds – leaving no reason for retaliation – and no evidence that he intended to steal from Mizell's supplies. "To draw the conclusions urged by the government would exceed the bounds of reason and require plainly impermissible speculation" on the part of the jury, the judge wrote in a 29-page opinion. A third defendant, Jay Bryant, also was indicted in the killing and faces a separate trial. Jordan has maintained that Bryant shot Mizell. According to prosecutors' account, Jordan shot Mizell in the head at close range when the DJ stood up to greet his godson. The government said Bryant had entered the studio and let in Jordan and Washington, both armed with handguns, through a locked rear fire exit. (Reporting by Steve Gorman in Los Angeles; Editing by William Mallard)

(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 Danielle Broadway LOS ANGELES, Dec 18 (Reuters) – Content creators across dance, music, sports, fashion, entertainment and education gathered in Hollywood on Thursday for the first U.S. TikTok Awards, featuring Labubu dolls launched from a T-shirt cannon, a giant selfie challenge, skits, and viral moment reenactments. The livestreamed ceremony on TikTok and Tubi, hosted by lifestyle influencer La La Anthony, crowned Keith Lee as “creator of the year” and honored Bretman Rock for “video of the year.” "TikTok provided me a platform to be able to show small businesses around the country," Lee, who creates family and small business content, said on stage while accepting his award. "It's hard to do something for myself, because I always put other people in front of me, but this is for me," he added. Other winners included DJ Paris Hilton, who took home the "muse of the year" award for inspiring others, and Jeremiah Brown, a former "Love Island USA" contestant, who took home the "rising star of the year" award. "A muse doesn't follow trends, we help create them," Hilton said during her acceptance speech on stage. The honor highlighting activism included the “For Good” award, given to Zach, a creator with Down syndrome who shares his life to promote inclusion, and his brother Pat Valentine, who educates audiences about the condition. Near the end of the night, Grammy-winning pop singer Ciara performed a compilation of her most popular songs, including "Goodies," "1,2 Step" and "Level Up." The ceremony marks a significant feat for social media app TikTok, as its Chinese parent company ByteDance, led by CEO Shou Zi Chew, reported on Thursday that a binding agreement has been made with three major investors to sell just over 80% of the company's U.S. assets to American and global investors to avoid a U.S. government ban. “I've been really involved with the opportunities to save TikTok from the very beginning," Alexandra Doten, who makes educational videos for TikTok, told Reuters on the carpet before the show began. "I was in DC talking about it, so I'm just so excited. This platform does so much to spark creativity and to make people smarter and more inspired," she added. The deal is a major step toward resolving years of uncertainty about the short video app's future in the United States since August 2020, when then President Donald Trump first tried unsuccessfully to ban the app that is now used regularly by more than 170 million Americans. The app faced a potential ban in the U.S due to risk of China's government exploiting the platform to spy on Americans and carry out covert influence operations. (Reporting by Danielle Broadway and Alexandra Sarabia; Editing by Stephen Coates)

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