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(This December 6 story has been repeated with no changes to the text.) By Dawn Chmielewski and Milana Vinn LOS ANGELES/NEW YORK, Dec 5 (Reuters) – What started as a fact-finding mission for Netflix culminated in one of the biggest media deals in the last decade and one that stands to reshape the global entertainment business landscape, people with direct knowledge of the deal told Reuters. Netflix announced on Friday it had reached a deal to buy Warner Bros Discovery's TV, film studios and streaming division for $72 billion.  Although Netflix had publicly downplayed speculation about buying a major Hollywood studio as recently as October, the streaming pioneer threw its hat in the ring when Warner Bros Discovery kicked off an auction on October 21, after rejecting a trio of unsolicited offers from Paramount Skydance. Details of Netflix's plan and the Warner Bros board's deliberations, based on interviews with seven advisers and executives, are reported here for the first time. Initially motivated by curiosity about its business, Netflix executives quickly recognized the opportunity presented by Warner Bros, beyond the ability to offer the century-old studio's deep catalog of movies and television shows to Netflix subscribers. Library titles are valuable to streaming services as these movies and shows can account for 80% of viewing, according to one person familiar with the business.  Warner Bros' business units – particularly its theatrical distribution and promotion unit and its studio – were complementary to Netflix. The HBO Max streaming service also would benefit from insights learned years ago by streaming leader Netflix that would accelerate HBO's growth, according to one person familiar with the situation. Netflix began flirting with the idea of acquiring the studio and streaming assets, another source familiar with the process told Reuters, after WBD announced plans in June to split into two publicly traded companies, separating its fading but cash-generating cable television networks from the legendary Warner Bros studios, HBO and the HBO Max streaming service.  Netflix and Warner Bros did not reply to requests for comment. The work intensified this autumn, as Netflix began vying for the assets against Paramount and NBCUniversal's parent company, Comcast. 'STRATEGIC FLEXIBILITY' Warner Bros kicked off the public auction in October, after Paramount submitted the first of three escalating offers for the media company in September. Sources familiar with the offer said Paramount aimed to pre-empt the planned separation because the split would undercut its ability to combine the traditional television networks businesses and increase the risk of being outbid for the studio by the likes of Netflix. Around that time, banker JPMorgan Chase & Co   was advising Warner Bros Discovery CEO David Zaslav to consider reversing the order of the planned spin, shedding the Discovery Global unit comprising the company's cable television assets first. This would give the company more flexibility, including the option to sell the studio, streaming and content assets, which advisers believed would draw strong interest, according to sources familiar with the matter. Executives for the streaming service and its advisory team, which included the investment banks Moelis & Company, Wells Fargo and the law firm Skadden, Arps, Slate, Meagher & Flom, had been holding daily morning calls for the past two months, sources said. The group worked throughout Thanksgiving week – including multiple calls on Thanksgiving Day – to prepare a bid by the December 1 deadline. Warner Bros' board similarly convened every day for the last eight days leading up to the decision on Thursday, when Netflix presented the final offer that sources described as the only offer they considered binding and complete, sources familiar with the deliberations said.   The board favored Netflix's deal, which would yield more immediate benefits over one by Comcast. The NBCUniversal parent proposed merging its entertainment division with Warner Bros Discovery, creating a much larger unit that would rival Walt Disney.  But it would have taken years to execute, the sources said. Comcast declined to comment. Although Paramount raised its offer to $30 per share on Thursday for the entire company, for an equity value of $78 billion, according to sources familiar with the deal, the Warner Bros board had concerns about the financing, other sources said.  Paramount declined comment. To reassure the seller over what is expected to be a significant regulatory review, Netflix put forward one of the largest breakup fees in M&A history of $5.8 billion, a sign of its belief it would win regulatory approval, the sources said. “No one lights $6 billion on fire without that conviction," one of the sources said. Until the moment late on Thursday night when Netflix learned its offer had been accepted – news that was greeted by clapping and cheering on a group call – one Netflix executive confided that they thought they had only a 50-50 chance. (Reporting by Dawn Chmielewski in Los Angeles and Milana Vinn in New York; Editing by Kenneth Li and Matthew Lewis)

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By Jeff Mason WASHINGTON, Dec 7 (Reuters) – U.S. President Donald Trump said on Sunday that he would have a say whether a proposed merger between Netflix and Warner Brothers should go forward, telling reporters the market share of a combined entity could raise concerns. "I'll be involved in that decision," Trump told reporters as he arrived at the Kennedy Center for its annual awards show. Netflix on Friday agreed to buy Warner Bros Discovery's TV, film studios and streaming division for $72 billion, a deal that would hand control of one of Hollywood's most prized assets to the streaming pioneer. Trump did not say whether he favored approval for the deal, but he pointed to a potential concentration of market power in the entertainment industry. "That's going to be for some economists to tell…. But it is a big market share. There's no question it could be a problem," Trump said.     (Reporting By Jeff Mason and Steve Holland; Editing by Cynthia Osterman)

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By Sara Rossi MILAN, Dec 7 (Reuters) – La Scala opens its new season on Sunday with Russian composer Dmitri Shostakovich's Lady Macbeth of the Mtsensk District, an opera promoting women's rights that was once banned in Russia. The Milan opera house is staging the work in a tribute to Shostakovich 50 years after his death. The opera, based on a play by Nikolai Leskov, debuted in St Petersburg in 1934 and was originally intended to be the first of a trilogy dedicated to Russian women. Despite its initial success, the opera faced criticism from the Soviet leadership, including Joseph Stalin, due to its depiction of sex, violence and female rebellion and it was banned for nearly 30 years in the country. "Opening the season with this opera is … a tribute to a 20th-century giant and to an opera that suffered for far too many years," Riccardo Chailly, La Scala's principal conductor, said. Speaking about calls to exclude Russian performers from European stages, Russian director Vasily Barkhatov said that personal political views and cultural identity should be kept separate. "If you openly support the Russian government, you must be aware of the possible consequences of your choice," Barkhatov told Reuters. "It's different, however, if you are discriminated against just because you are a Russian artist," he said. KATERINA'S CHARACTER 'LIKE A RACING CAR' The opera tells the story of Katerina who, trapped in an unhappy marriage, murders her husband and father-in-law with the help of her lover, but is eventually discovered and sent to Siberia where she commits suicide. "It's a story about women's freedom and human happiness," said Barkhatov. U.S. soprano Sara Jakubiak, who plays Katerina, said her character "is like a racing car that goes from zero to 100 km in a couple of seconds." The opera was originally set in the countryside of 19th- century Russia, but Barkhatov and Belarusian set-designer Zinovy Margolin have shifted the three and a half hour production to an urban setting of 1950s Moscow. "We wanted to do something different. We thought that setting it in the city where Shostakovich lived would be fitting," said Margolin. Russian tenor Yevgeny Akimov plays Katerina's husband, Zinovy, while Uzbek tenor Najmiddin Mavlyanov stars as her lover Sergey. This season will be the first for La Scala's new artistic director, Fortunato Ortombina. La Scala, inaugurated in 1778, has become one of the world's most prestigious opera and ballet theatres. The opening night of La Scala's season is a highlight of the social calendar for Italy's political and business elite, coinciding with Milan's St. Ambrose holiday celebrating the city's patron saint. Sunday's opening performance, which is sold out, will have an audience of 2,000 people. Tickets, costing as much as 3,200 euros ($3,725) – will generate a record 2.8 million euros in revenue. The opera will be performed at La Scala ‪until December 30. ($1 = 0.8590 euros) (Reporting by Sara Rossi, editing by Gavin Jones and Jane Merriman)

(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 Jeff Mason WASHINGTON, Dec 7 (Reuters) – U.S. President Donald Trump said on Sunday that he would have a say whether a proposed merger between Netflix and Warner Brothers should go forward, telling reporters the market share of a combined entity could raise concerns. "I'll be involved in that decision," Trump told reporters as he arrived at the Kennedy Center for its annual awards show. Netflix on Friday agreed to buy Warner Bros Discovery's TV, film studios and streaming division for $72 billion, a deal that would hand control of one of Hollywood's most prized assets to the streaming pioneer. Trump did not say whether he favored approval for the deal, but he pointed to a potential concentration of market power in the entertainment industry. "That's going to be for some economists to tell…. But it is a big market share. There's no question it could be a problem," Trump said.     (Reporting By Jeff Mason and Steve Holland; Editing by Cynthia Osterman)

(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 Jeff Mason WASHINGTON, Dec 7 (Reuters) – U.S. President Donald Trump said on Sunday that he would have a say whether a proposed merger between Netflix and Warner Brothers should go forward, telling reporters the market share of a combined entity could raise concerns. "I'll be involved in that decision," Trump told reporters as he arrived at the Kennedy Center for its annual awards show. Netflix on Friday agreed to buy Warner Bros Discovery's TV, film studios and streaming division for $72 billion, a deal that would hand control of one of Hollywood's most prized assets to the streaming pioneer. Trump did not say whether he favored approval for the deal, but he pointed to a potential concentration of market power in the entertainment industry. "That's going to be for some economists to tell…. But it is a big market share. There's no question it could be a problem," Trump said.     (Reporting By Jeff Mason and Steve Holland; Editing by Cynthia Osterman)

(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 Jeff Mason and Steve Holland WASHINGTON, Dec 7 – U.S. President Donald Trump solidified his takeover of Washington's John F. Kennedy Center for the Performing Arts on Sunday by hosting its flagship awards program, mixing politics with a celebration of stars from music and film. This year's Kennedy Center Honors, widely seen as the top U.S. recognition for achievement in the performing arts, feted actor Sylvester Stallone, disco singer Gloria Gaynor, country musician George Strait, "Phantom of the Opera" star Michael Crawford and rock band KISS. Trump, who had a hand in picking the recipients, did not attend Kennedy Center events during his first term. But he has taken a keen interest in the institution during his second, firing its president, installing a new board that made him chair and ordering a renovation of the building. Sunday's show marked the first time that a U.S. president had hosted the Kennedy Center Honors, a role previously filled by celebrities or other notable figures.  "The Kennedy Center is very special. We're bringing this building back to life," he said, speaking to a friendly audience and standing center stage. TRUMP PUTTING STAMP ON KENNEDY CENTER Trump sat next to his wife, Melania, during most of the show, making remarks at the beginning of each act and at the very end. His introductions of the segments about each honoree were prerecorded and played on a large screen. The honorees themselves largely welcomed the president's role. "Most probably I wouldn't be here if he … wasn't a fan," Crawford told reporters ahead of the show, referring to Trump. KISS singer Gene Simmons said: "Whether you're a fan of the president or not, he's never boring." Trump, in remarks to reporters, declined to rule out having his name added to the Kennedy Center, saying that such a decision was up to the board that he now chairs. He referred to it as the "Trump Kennedy Center" at one point during his remarks from the stage. Last week, Trump's name was put on the U.S. Institute of Peace building. The former real estate developer, whose name is on buildings around the country, is putting his stamp on both the White House and the Kennedy Center structures, controversially tearing down the White House's East Wing to make room for a 90,000-square-foot ballroom. The Kennedy Center's new president, Ric Grenell, who once served as Trump's ambassador to Germany, is overseeing the performing arts complex's multimillion-dollar renovation and revamping the organization's events, including hosting the 2026 World Cup draw on Friday.  Grenell's tenure has been marked by staff turnover and discontent in the arts community about the center's direction.  'GREATEST OF THEIR GENERATION'  In the Oval Office on Saturday, Trump praised this year's honorees and gave them newly designed gold medallions with blue ribbons, rather than the rainbow-colored ribbons used since 1978 to represent the spectrum of performing arts. "These are among the greatest artists, actors and performers of their generation," Trump said at the White House.  "We can hardly imagine the country music phenomenon without its king of country, or the American disco without its first lady, or Broadway without its phantom…or Rock and Roll without its hottest band in the world, and that's what they are, or Hollywood without one of its greatest visionaries." The show started with a tribute to Stallone, who established himself with movies such as "Rocky" and "Rambo." Actor Kurt Russell praised the star and Trump noted that Stallone had supported him when he ran for office. Next up was a tribute to English stage actor Crawford, who originated the lead role in the Andrew Lloyd Webber musical "The Phantom of the Opera." A rafter-raising rendition of that show's title song and ballad "The Music of the Night" were performed in his honor. Singers Vince Gill, Miranda Lambert and country duo Brooks & Dunn sang selections in Strait's honor, and Gaynor, who is known for her disco hit "I Will Survive," was celebrated with a version of her signature song, complete with disco lights shining around the theater. The final tribute went to KISS, whose members Paul Stanley, Simmons, Ace Frehley, and Peter Criss rose to fame in the 1970s with hits such as "I Was Made for Lovin' You." Frehley died in October. Singer Garth Brooks performed a rousing rendition of KISS song "Shout It Out Loud" and rock band Cheap Trick closed out the evening with a performance of "Rock and Roll All Nite."  The Kennedy Center Honors show will air on the CBS television network on December 23. (Reporting by Jeff Mason and Steve Holland; Editing by Cynthia Osterman, Sergio Non and Saad Sayeed)

(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 Jeff Mason and Steve Holland WASHINGTON, Dec 7 – U.S. President Donald Trump solidified his takeover of Washington's John F. Kennedy Center for the Performing Arts on Sunday by hosting its flagship awards program, mixing politics with a celebration of stars from music and film. This year's Kennedy Center Honors, widely seen as the top U.S. recognition for lifetime achievement in the performing arts, feted actor Sylvester Stallone, disco singer Gloria Gaynor, country musician George Strait, "Phantom of the Opera" star Michael Crawford and rock band KISS. Trump, who had a hand in picking the recipients, did not attend Kennedy Center events during his first term. But he has taken a keen interest in the institution during his second, firing its president, installing a new board that made him chair and ordering a renovation of the building. It marked the first time that a U.S. president had hosted the Kennedy Center Honors, a role previously filled by celebrities or other notable figures.  He told reporters as he arrived for the show that the Kennedy Center is "going to be brought back to life." "We are saving the Kennedy Center," Trump said, with first lady Melania Trump at his side. Trump declined to rule out having his name added to the Kennedy Center, saying that such a decision was up to the center board that he now chairs. Last week Trump's name was put on the U.S. Institute of Peace building. The former real estate developer is putting his stamp on both the White House and the Kennedy Center structures, controversially tearing down the White House's East Wing to make room for a 90,000-square-foot ballroom. The Kennedy Center's new president, Ric Grenell, who once served as Trump's ambassador to Germany, is overseeing the performing arts complex's multi-million-dollar renovation and revamping the organization's events, including hosting the World Cup final draw on Friday.  Grenell's tenure has been marked by staff turnover and discontent in the arts community about the center's direction.   In the Oval Office on Saturday, Trump praised this year's honorees and gave them newly designed gold medallions with blue ribbons, rather than the rainbow-colored ribbons used since 1978 to represent the spectrum of performing arts. "These are among the greatest artists, actors and performers of their generation," Trump said. "We can hardly imagine the country music phenomenon without its king of country, or the American disco without its first lady, or Broadway without its phantom…or Rock and Roll without its hottest band in the world, and that's what they are, or Hollywood without one of its greatest visionaries." KISS members Paul Stanley, Gene Simmons, Ace Frehley, and Peter Criss rose to fame in the 1970s with hits such as "I Was Made for Lovin' You" and "Rock and Roll All Nite." Country star Strait's hits include the song "Down and Out." Gaynor is known for her disco hit "I Will Survive." English stage actor Crawford originated the lead role in the Andrew Lloyd Webber musical "The Phantom of the Opera," and film star Stallone established himself with movies such as "Rocky" and "Rambo." The Kennedy Center Honors show will air on the CBS television network on December 23. (Reporting by Jeff Mason and Steve Holland; Editing by Cynthia Osterman and Sergio Non)

(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 Jeff Mason and Steve Holland WASHINGTON, Dec 7 – U.S. President Donald Trump solidified his takeover of Washington's John F. Kennedy Center for the Performing Arts on Sunday by hosting its flagship awards program, mixing politics with a celebration of stars from music and film. This year's Kennedy Center Honors, widely seen as the top U.S. recognition for lifetime achievement in the performing arts, feted actor Sylvester Stallone, disco singer Gloria Gaynor, country musician George Strait, "Phantom of the Opera" star Michael Crawford and rock band KISS. Trump, who had a hand in picking the recipients, did not attend Kennedy Center events during his first term. But he has taken a keen interest in the institution during his second, firing its president, installing a new board that made him chair and ordering a renovation of the building. It marked the first time that a U.S. president had hosted the Kennedy Center Honors, a role previously filled by celebrities or other notable figures.  He told reporters as he arrived for the show that the Kennedy Center is "going to be brought back to life." "We are saving the Kennedy Center," Trump said, with first lady Melania Trump at his side. Trump declined to rule out having his name added to the Kennedy Center, saying that such a decision was up to the center board that he now chairs. Last week Trump's name was put on the U.S. Institute of Peace building. The former real estate developer is putting his stamp on both the White House and the Kennedy Center structures, controversially tearing down the White House's East Wing to make room for a 90,000-square-foot ballroom. The Kennedy Center's new president, Ric Grenell, who once served as Trump's ambassador to Germany, is overseeing the performing arts complex's multi-million-dollar renovation and revamping the organization's events, including hosting the World Cup final draw on Friday.  Grenell's tenure has been marked by staff turnover and discontent in the arts community about the center's direction.   In the Oval Office on Saturday, Trump praised this year's honorees and gave them newly designed gold medallions with blue ribbons, rather than the rainbow-colored ribbons used since 1978 to represent the spectrum of performing arts. "These are among the greatest artists, actors and performers of their generation," Trump said. "We can hardly imagine the country music phenomenon without its king of country, or the American disco without its first lady, or Broadway without its phantom…or Rock and Roll without its hottest band in the world, and that's what they are, or Hollywood without one of its greatest visionaries." KISS members Paul Stanley, Gene Simmons, Ace Frehley, and Peter Criss rose to fame in the 1970s with hits such as "I Was Made for Lovin' You" and "Rock and Roll All Nite." Country star Strait's hits include the song "Down and Out." Gaynor is known for her disco hit "I Will Survive." English stage actor Crawford originated the lead role in the Andrew Lloyd Webber musical "The Phantom of the Opera," and film star Stallone established himself with movies such as "Rocky" and "Rambo." The Kennedy Center Honors show will air on the CBS television network on December 23. (Reporting by Jeff Mason and Steve Holland; Editing by Cynthia Osterman and Sergio Non)

(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 Jeff Mason and Steve Holland WASHINGTON, Dec 7 – U.S. President Donald Trump solidified his takeover of Washington's John F. Kennedy Center for the Performing Arts on Sunday by hosting its flagship awards program, mixing politics with a celebration of stars from music and film. This year's Kennedy Center Honors, widely seen as the top U.S. recognition for lifetime achievement in the performing arts, feted actor Sylvester Stallone, disco singer Gloria Gaynor, country musician George Strait, "Phantom of the Opera" star Michael Crawford and rock band KISS. Trump, who had a hand in picking the recipients, did not attend Kennedy Center events during his first term. But he has taken a keen interest in the institution during his second, firing its president, installing a new board that made him chair and ordering a renovation of the building. It marked the first time that a U.S. president had hosted the Kennedy Center Honors, a role previously filled by celebrities or other notable figures.  He told reporters as he arrived for the show that the Kennedy Center is "going to be brought back to life." "We are saving the Kennedy Center," Trump said, with first lady Melania Trump at his side. Trump declined to rule out having his name added to the Kennedy Center, saying that such a decision was up to the center board that he now chairs. Last week Trump's name was put on the U.S. Institute of Peace building. The former real estate developer is putting his stamp on both the White House and the Kennedy Center structures, controversially tearing down the White House's East Wing to make room for a 90,000-square-foot ballroom. The Kennedy Center's new president, Ric Grenell, who once served as Trump's ambassador to Germany, is overseeing the performing arts complex's multi-million-dollar renovation and revamping the organization's events, including hosting the World Cup final draw on Friday.  Grenell's tenure has been marked by staff turnover and discontent in the arts community about the center's direction.   In the Oval Office on Saturday, Trump praised this year's honorees and gave them newly designed gold medallions with blue ribbons, rather than the rainbow-colored ribbons used since 1978 to represent the spectrum of performing arts. "These are among the greatest artists, actors and performers of their generation," Trump said. "We can hardly imagine the country music phenomenon without its king of country, or the American disco without its first lady, or Broadway without its phantom…or Rock and Roll without its hottest band in the world, and that's what they are, or Hollywood without one of its greatest visionaries." KISS members Paul Stanley, Gene Simmons, Ace Frehley, and Peter Criss rose to fame in the 1970s with hits such as "I Was Made for Lovin' You" and "Rock and Roll All Nite." Country star Strait's hits include the song "Down and Out." Gaynor is known for her disco hit "I Will Survive." English stage actor Crawford originated the lead role in the Andrew Lloyd Webber musical "The Phantom of the Opera," and film star Stallone established himself with movies such as "Rocky" and "Rambo." The Kennedy Center Honors show will air on the CBS television network on December 23. (Reporting by Jeff Mason and Steve Holland; Editing by Cynthia Osterman and Sergio Non)

(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 Jeff Mason and Steve Holland WASHINGTON, Dec 7 – U.S. President Donald Trump solidified his takeover of Washington's John F. Kennedy Center for the Performing Arts on Sunday by hosting its flagship awards program, mixing politics with a celebration of stars from music and film. This year's Kennedy Center Honors, widely seen as the top U.S. recognition for lifetime achievement in the performing arts, feted actor Sylvester Stallone, disco singer Gloria Gaynor, country musician George Strait, "Phantom of the Opera" star Michael Crawford and rock band KISS. Trump, who had a hand in picking the recipients, did not attend Kennedy Center events during his first term. But he has taken a keen interest in the institution during his second, firing its president, installing a new board that made him chair and ordering a renovation of the building. It marked the first time that a U.S. president had hosted the Kennedy Center Honors, a role previously filled by celebrities or other notable figures.  He told reporters as he arrived for the show that the Kennedy Center is "going to be brought back to life." "We are saving the Kennedy Center," Trump said, with first lady Melania Trump at his side. Trump declined to rule out having his name added to the Kennedy Center, saying that such a decision was up to the center board that he now chairs. Last week Trump's name was put on the U.S. Institute of Peace building. The former real estate developer is putting his stamp on both the White House and the Kennedy Center structures, controversially tearing down the White House's East Wing to make room for a 90,000-square-foot ballroom. The Kennedy Center's new president, Ric Grenell, who once served as Trump's ambassador to Germany, is overseeing the performing arts complex's multi-million-dollar renovation and revamping the organization's events, including hosting the World Cup final draw on Friday.  Grenell's tenure has been marked by staff turnover and discontent in the arts community about the center's direction.   In the Oval Office on Saturday, Trump praised this year's honorees and gave them newly designed gold medallions with blue ribbons, rather than the rainbow-colored ribbons used since 1978 to represent the spectrum of performing arts. "These are among the greatest artists, actors and performers of their generation," Trump said. "We can hardly imagine the country music phenomenon without its king of country, or the American disco without its first lady, or Broadway without its phantom…or Rock and Roll without its hottest band in the world, and that's what they are, or Hollywood without one of its greatest visionaries." KISS members Paul Stanley, Gene Simmons, Ace Frehley, and Peter Criss rose to fame in the 1970s with hits such as "I Was Made for Lovin' You" and "Rock and Roll All Nite." Country star Strait's hits include the song "Down and Out." Gaynor is known for her disco hit "I Will Survive." English stage actor Crawford originated the lead role in the Andrew Lloyd Webber musical "The Phantom of the Opera," and film star Stallone established himself with movies such as "Rocky" and "Rambo." The Kennedy Center Honors show will air on the CBS television network on December 23. (Reporting by Jeff Mason and Steve Holland; Editing by Cynthia Osterman and Sergio Non)

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