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By Rollo Ross and Danielle Broadway LOS ANGELES, Dec 24 (Reuters) – Amanda Seyfried acknowledges she knew little about Ann Lee, the 18th-century founder of the Shaker movement, before portraying her in “The Testament of Ann Lee,” a film opening Christmas Day that explores the visionary leader’s quest for equality and communal living. “I was surprised that I didn’t learn about her in my own American history classes,” Seyfried – who starred in "Mamma Mia!" – told Reuters. “This woman is the leader of the Shaker movement.” The Shakers were a Christian movement also known for their celibacy and ecstatic worship to shake off evil. The film, directed by Mona Fastvold and distributed by Searchlight Pictures, follows Ann Lee, proclaimed as the female Christ by her followers. In the movie, Ann Lee aims to establish a utopian society where the Shakers worship through song and dance, based on real American history. Along with Seyfried, the film stars Lewis Pullman as William Lee, Ann’s brother; Christopher Abbott as Abraham Standerin, Ann’s husband, and Thomasin McKenzie as follower and friend of Ann, Mary Partington. Like Seyfried, Pullman didn’t know anything about Ann Lee before working on the film. “The more you learn about her, the more she seems like she should be a pivotal figure in history,” he said. Pullman describes the real Ann Lee as a humanist who advocated for the rights of everyone. For both Pullman and McKenzie, it was impressive to see how Seyfried captured both the pain and the powerful presence of Ann. The film’s musical elements were a key part of the movement's story, as the Shakers used song and dance to worship God and advocate for equity. It was revolutionary for Seyfried when she realized that for the role of Ann, her singing went beyond giving a good performance. “I’m singing to be alive. I’m not singing to sound, to perform. It’s like oxygen. It definitely shifted my perspective on what it means," the "Dear John" actor said. “It’s a musical but not the way we know musicals,” she added. (Reporting by Rollo Ross and Danielle Broadway)

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SEOUL, Dec 23 (Reuters) – A K-Pop concert will be held in Hong Kong in February and aired across mainland China by a state-run broadcaster, the organiser said, amid growing hopes of cultural exchanges between China and South Korea after nearly a decade of an unofficial ban. Chinese President Xi Jinping last month visited South Korea for the first time in 11 years and held a summit with South Korean President Lee Jae Myung, where the two leaders also discussed cultural exchanges, raising hopes of China lifting its unofficial ban on Korean culture. The unofficial ban was introduced in 2017 as China protested against the U.S. deployment of a missile shield system in South Korea and has in effect meant no Korean concerts or TV shows have been approved by the Chinese authorities. Dream Concert 2026 will be held at Kai Tak Sports Park for two days from February 6 and the recording will be broadcast by China's state-run Hunan Television, according to From Entertainment, a South Korean firm organising the event. "It will be the first time for a K-Pop concert to be broadcast in mainland China since cultural exchanges were severed. First in years," an official at From Entertainment said on Tuesday. China's foreign ministry said on Tuesday it was not aware of any planned concerts or lifting of the unofficial ban on K-Pop. The two countries are also coordinating a visit by Lee to China early next year, South Korean Foreign Minister Cho Hyun said in an interview with Yonhap News on Monday. The From Entertainment official gave no details of which K-Pop acts would be performing. However, shares of K-Pop agencies rallied on Tuesday, with HYBE rising 5%, SM Entertainment gaining 8%, JYP Entertainment adding 3% and YG Entertainment jumping 4%. Dream Concert, a K-Pop event hosted annually by the Korea Entertainment Producer's Association, was held this year in Abu Dhabi in November, after South Korean media reported that earlier plans of holding it in mainland China and Hong Kong were cancelled. South Korean entertainment firm CJ ENM also hosted its annual MAMA Awards in Hong Kong last month. (Reporting by Jihoon Lee in Seoul, Additional Reporting by Joe Cash in Beijing; Editing by Alison Williams)

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By Akash Sriram Dec 22 (Reuters) – Oracle co-founder Larry Ellison has stepped in to personally guarantee $40.4 billion in Paramount Skydance's latest effort to pry Warner Bros Discovery away from selling its prized Hollywood assets to streaming giant Netflix. The guarantee, disclosed in a filing on Monday, seeks to allay the Warner Bros board's doubts about Paramount's financing and the lack of full Ellison family backing, which had pushed it toward the competing cash-and-stock offer from Netflix. Warner Bros shares closed up 3.5%, while Paramount added over 4%. Warner Bros said it will review and consider Paramount's revised terms, adding that board is not modifying its recommendation with respect to the Netflix deal. Netflix did not immediately respond to requests for comment. Paramount said the amended terms do not change the $30-per-share all-cash offer even as the fight for Hollywood's sought-after assets heats up, with control of Warner Bros' vast library offering a decisive edge in the streaming wars. "I doubt many Warner Bros shareholders that are on the fence or planning to vote no were holding out due to issues the revised bid addresses such as a guarantee from Larry Ellison on the funding front," said Seth Shafer, principal analyst at S&P Global. As part of the revised terms, Ellison also agreed not to revoke the family trust or transfer its assets during the pendency of the transaction, the filing showed.  Paramount said it has raised its regulatory reverse termination fee to $5.8 billion from $5 billion to match the competing transaction and extended the expiration date of its tender offer to January 21, 2026. The bid follows Warner Bros asking its shareholders to reject the $108.4 billion offer from Paramount for the whole company, including cable TV assets, on doubts over its financing and the lack of a full guarantee from the Ellison family.  But Warner Bros investors, including the fifth largest shareholder Harris Associates, have said they would be open to revised offers from Paramount if it presents a superior bid and addresses issues with deal terms.  Under the Netflix agreement, Warner Bros would owe Netflix $2.8 billion as breakup fee if it walks away from that deal.  REGULATORY SCRUTINY For either suitor, winning shareholder support is only the first hurdle, as both deals would face intense antitrust scrutiny in the U.S. and Europe. Lawmakers from both parties have raised concerns about consolidation in the media industry, and U.S. President Donald Trump has said he plans to weigh in on the transactions. A Paramount-Warner Bros combination would create a studio larger than industry leader Disney and combine two major television operators, a move some Democratic senators say would give one company control over "almost everything Americans watch on TV." A Netflix-Warner Bros tie-up would cement Netflix's dominance in streaming, creating a group with a combined 428 million subscribers. Netflix has said it would honor Warner Bros' theatrical commitments and argued the deal would benefit consumers by lowering costs through bundled offerings. Netflix co-CEO Ted Sarandos has said he is confident the deal would win regulatory approval, arguing it would avoid job cuts in an industry already struggling with uneven box-office returns. (Reporting by Akash Sriram, Aditya Soni and Kritika Lamba in Bengaluru; Editing by Arun Koyyur)

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By Akash Sriram Dec 22 (Reuters) – Oracle co-founder Larry Ellison has stepped in to personally guarantee $40.4 billion in Paramount Skydance's latest effort to pry Warner Bros Discovery away from selling its prized Hollywood assets to streaming giant Netflix. The guarantee, disclosed in a filing on Monday, seeks to allay the Warner Bros board's doubts about Paramount's financing and the lack of full Ellison family backing, which had pushed it toward the competing cash-and-stock offer from Netflix. Warner Bros shares rose about 3%, while Paramount added over 7%. Warner Bros and Netflix did not immediately respond to requests for comment. Paramount said the amended terms do not change the $30-per-share all-cash offer even as the fight for Hollywood's sought-after assets heats up, with control of Warner Bros' vast library offering a decisive edge in the streaming wars. "I doubt many Warner Bros shareholders that are on the fence or planning to vote no were holding out due to issues the revised bid addresses such as a guarantee from Larry Ellison on the funding front," said Seth Shafer, principal analyst at S&P Global. As part of the revised terms, Ellison also agreed not to revoke the family trust or transfer its assets during the pendency of the transaction, the filing showed.  Paramount said it has raised its regulatory reverse termination fee to $5.8 billion from $5 billion to match the competing transaction and extended the expiration date of its tender offer to January 21, 2026. The bid follows Warner Bros asking its shareholders to reject the $108.4 billion offer from Paramount for the whole company, including cable TV assets, on doubts over its financing and the lack of a full guarantee from the Ellison family.  But Warner Bros investors, including the fifth largest shareholder Harris Associates, have said they would be open to revised offers from Paramount if it presents a superior bid and addresses issues with deal terms.  Under the Netflix agreement, Warner Bros would owe Netflix $2.8 billion as breakup fee if it walks away from that deal.  REGULATORY SCRUTINY For either suitor, winning shareholder support is only the first hurdle, as both deals would face intense antitrust scrutiny in the U.S. and Europe. Lawmakers from both parties have raised concerns about consolidation in the media industry, and U.S. President Donald Trump has said he plans to weigh in on the transactions. A Paramount-Warner Bros combination would create a studio larger than industry leader Disney and combine two major television operators, a move some Democratic senators say would give one company control over "almost everything Americans watch on TV." A Netflix-Warner Bros tie-up would cement Netflix's dominance in streaming, creating a group with a combined 428 million subscribers. Netflix has said it would honor Warner Bros' theatrical commitments and argued the deal would benefit consumers by lowering costs through bundled offerings. Netflix co-CEO Ted Sarandos has said he is confident the deal would win regulatory approval, arguing it would avoid job cuts in an industry already struggling with uneven box-office returns. (Reporting by Akash Sriram, Aditya Soni and Kritika Lamba in Bengaluru; Editing by Arun Koyyur)

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LONDON, Dec 22 (Reuters) – Chris Rea, an English singer-songwriter and guitarist best known for his festive hit "Driving Home For Christmas", has died aged 74 following a short illness, his family said on Monday. Hailing from Middlesbrough, a port town in northeast England, Rea's song "Fool (If You Think It's Over)" from his debut studio album in 1978 was his biggest chart hit, reaching the U.S. billboard Hot 100 and earning him a Grammy nomination. He released 25 studio albums and sold more than 40 million records worldwide in a career spanning five decades, cementing his reputation as one of Britain's most prominent pop artists. "Driving Home for Christmas," written during a snowy journey when he was unemployed and released in 1986, became a seasonal staple in Britain, re-entering UK charts annually and featuring in festive advertising campaigns. "My manager had just left me, I'd just been banned from driving, my now wife, Joan, she had to drive down to London, pick me up in the mini and take me home, and that's when I wrote it," Rea said in a video clip posted on Instagram last week. The song was used this year in a Christmas-season ad campaign by retailer M&S. A motor-racing enthusiast, Rea took part in the 1993 British Touring Car Championship as a guest driver. Two of his album covers, "Auberge" in 1991 and "The Best of Chris Rea" in 1994, featured cars. Rea battled serious health issues in later years, including pancreatic cancer in the 1990s and early 2000s, and a stroke in 2016, which left him with slurred speech and reduced movement in his arms and fingers. But he continued recording and touring, releasing his last album, "One Fine Day", in 2019. He is survived by his wife, who he met when they were both teenagers, and two daughters. His family said he died peacefully in hospital after a short illness, describing their loss as "immense". (Reporting by Muvija M, Edward BaranEditing by William Schomberg, Alexandra Hudson)

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By Akash Sriram Dec 22 (Reuters) – Oracle co-founder Larry Ellison has stepped in to personally guarantee $40.4 billion in Paramount Skydance's latest effort to pry Warner Bros Discovery away from selling its prized Hollywood assets to streaming giant Netflix. The guarantee, disclosed in a filing on Monday, seeks to allay the Warner Bros board's doubts about Paramount's financing and the lack of full Ellison family backing, which had pushed it toward the competing cash-and-stock offer from Netflix. Warner Bros shares rose about 3%, while Paramount added over 7%. Warner Bros and Netflix did not immediately respond to requests for comment. Paramount said the amended terms do not change the $30-per-share all-cash offer even as the fight for Hollywood's sought-after assets heats up, with control of Warner Bros' vast library offering a decisive edge in the streaming wars. "I doubt many Warner Bros shareholders that are on the fence or planning to vote no were holding out due to issues the revised bid addresses such as a guarantee from Larry Ellison on the funding front," said Seth Shafer, principal analyst at S&P Global. As part of the revised terms, Ellison also agreed not to revoke the family trust or transfer its assets during the pendency of the transaction, the filing showed.  Paramount said it has raised its regulatory reverse termination fee to $5.8 billion from $5 billion to match the competing transaction and extended the expiration date of its tender offer to January 21, 2026. The bid follows Warner Bros asking its shareholders to reject the $108.4 billion offer from Paramount for the whole company, including cable TV assets, on doubts over its financing and the lack of a full guarantee from the Ellison family.  But Warner Bros investors, including the fifth largest shareholder Harris Associates, have said they would be open to revised offers from Paramount if it presents a superior bid and addresses issues with deal terms.  Under the Netflix agreement, Warner Bros would owe Netflix $2.8 billion as breakup fee if it walks away from that deal.  REGULATORY SCRUTINY For either suitor, winning shareholder support is only the first hurdle, as both deals would face intense antitrust scrutiny in the U.S. and Europe. Lawmakers from both parties have raised concerns about consolidation in the media industry, and U.S. President Donald Trump has said he plans to weigh in on the transactions. A Paramount-Warner Bros combination would create a studio larger than industry leader Disney and combine two major television operators, a move some Democratic senators say would give one company control over "almost everything Americans watch on TV." A Netflix-Warner Bros tie-up would cement Netflix's dominance in streaming, creating a group with a combined 428 million subscribers. Netflix has said it would honor Warner Bros' theatrical commitments and argued the deal would benefit consumers by lowering costs through bundled offerings. Netflix co-CEO Ted Sarandos has said he is confident the deal would win regulatory approval, arguing it would avoid job cuts in an industry already struggling with uneven box-office returns. (Reporting by Akash Sriram, Aditya Soni and Kritika Lamba in Bengaluru; Editing by Arun Koyyur)

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By Akash Sriram Dec 22 (Reuters) – Oracle co-founder Larry Ellison has stepped in to personally guarantee $40.4 billion in Paramount Skydance's latest effort to pry Warner Bros Discovery away from selling its prized Hollywood assets to streaming giant Netflix. The guarantee, disclosed in a filing on Monday, seeks to allay the Warner Bros board's doubts about Paramount's financing and the lack of full Ellison family backing, which had pushed it toward the competing cash-and-stock offer from Netflix. Warner Bros shares rose about 3.2%, while Paramount added nearly 8%. Warner Bros and Netflix did not immediately respond to requests for comment. Paramount said the amended terms do not change the $30-per-share all-cash offer even as the fight for Hollywood's sought-after assets heats up, with control of Warner Bros' vast library offering a decisive edge in the streaming wars. "I doubt many Warner Bros shareholders that are on the fence or planning to vote no were holding out due to issues the revised bid addresses such as a guarantee from Larry Ellison on the funding front," said Seth Shafer, principal analyst at S&P Global Market Intelligence Kagan. As part of the revised terms, Ellison also agreed not to revoke the family trust or transfer its assets during the pendency of the transaction, the filing showed.  Paramount said it has raised its regulatory reverse termination fee to $5.8 billion from $5 billion to match the competing transaction and extended the expiration date of its tender offer to January 21, 2026. The bid follows Warner Bros asking its shareholders to reject the $108.4 billion offer from Paramount for the whole company, including cable TV assets, on doubts over its financing and the lack of a full guarantee from the Ellison family.  But Warner Bros investors, including the fifth largest shareholder Harris Associates, have said they would be open to revised offers from Paramount if it presents a superior bid and addresses issues with deal terms.  REGULATORY SCRUTINY For either suitor, winning shareholder support is only the first hurdle, as both deals would face intense antitrust scrutiny in the U.S. and Europe. Lawmakers from both parties have raised concerns about consolidation in the media industry, and U.S. President Donald Trump has said he plans to weigh in on the transactions. A Paramount-Warner Bros combination would create a studio larger than industry leader Disney and combine two major television operators, a move some Democratic senators say would give one company control over "almost everything Americans watch on TV." A Netflix-Warner Bros tie-up would cement Netflix's dominance in streaming, creating a group with a combined 428 million subscribers. Netflix has said it would honor Warner Bros' theatrical commitments and argued the deal would benefit consumers by lowering costs through bundled offerings. Netflix co-CEO Ted Sarandos has said he is confident the deal would win regulatory approval, arguing it would avoid job cuts in an industry already struggling with uneven box-office returns. (Reporting by Akash Sriram in Bengaluru; Editing by Arun Koyyur)

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By Akash Sriram Dec 22 (Reuters) – Oracle co-founder Larry Ellison has stepped in to personally guarantee $40.4 billion in Paramount Skydance's latest effort to pry Warner Bros Discovery away from selling its prized Hollywood assets to streaming giant Netflix. The guarantee, disclosed in a filing on Monday, seeks to allay the Warner Bros board's doubts about Paramount's financing and the lack of full Ellison family backing, which had pushed it toward the competing cash-and-stock offer from Netflix. Warner Bros shares rose nearly 4%, while Paramount added about 3%. Warner Bros and Netflix did not immediately respond to requests for comment. Paramount said the amended terms do not change the $30-per-share all-cash offer even as the fight for Hollywood's sought-after assets heats up, with control of Warner Bros' vast library offering a decisive edge in the streaming wars. "Paramount remains in a precarious position and is making a last-ditch effort to avoid being left out in the shadows," said Paolo Pescatore, analyst at PP Foresight. "The improved offer is a step in the right direction, but it is unlikely to be enough." As part of the revised terms, Ellison also agreed not to revoke the family trust or transfer its assets during the pendency of the transaction, the filing showed.  Paramount said it has raised its regulatory reverse termination fee to $5.8 billion from $5 billion to match the competing transaction and extended the expiration date of its tender offer to January 21, 2026. The bid follows Warner Bros asking its shareholders to reject the $108.4 billion offer from Paramount for the whole company, including cable TV assets, on doubts over its financing and the lack of a full guarantee from the Ellison family.  But Warner Bros investors, including the fifth largest shareholder Harris Associates, have said they would be open to revised offers from Paramount if it presents a superior bid and addresses issues with deal terms.  REGULATORY SCRUTINY For either suitor, winning shareholder support is only the first hurdle, as both deals would face intense antitrust scrutiny in the U.S. and Europe. Lawmakers from both parties have raised concerns about consolidation in the media industry, and U.S. President Donald Trump has said he plans to weigh in on the transactions. A Paramount-Warner Bros combination would create a studio larger than industry leader Disney and combine two major television operators, a move some Democratic senators say would give one company control over "almost everything Americans watch on TV." A Netflix-Warner Bros tie-up would cement Netflix's dominance in streaming, creating a group with a combined 428 million subscribers. Netflix has said it would honor Warner Bros' theatrical commitments and argued the deal would benefit consumers by lowering costs through bundled offerings. Netflix co-CEO Ted Sarandos has said he is confident the deal would win regulatory approval, arguing it would avoid job cuts in an industry already struggling with uneven box-office returns. (Reporting by Akash Sriram in Bengaluru; Editing by Arun Koyyur)

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By Jaspreet Singh, Juby Babu and Kritika Lamba Dec 22 (Reuters) – Oracle co-founder Larry Ellison will provide a personal guarantee of $40.4 billion in equity financing to back Paramount Skydance's all-cash bid of $108.4 billion for Warner Bros Discovery, a regulatory filing showed on Monday. The move comes shortly after Warner Bros Discovery's board rejected Paramount Skydance's $108.4 billion hostile bid, favoring Netflix in the high-stakes bidding war for the storied media giant. Earlier this month, the streaming pioneer agreed to buy Warner Bros Discovery's iconic studio and streaming assets for $72 billion, a move that could reshape Hollywood by creating a vertically integrated media powerhouse. The deal is expected to invite tough regulatory scrutiny. U.S. President Donald Trump has said he would have a say in whether the proposed merger between Netflix and Warner Bros should go forward. The bidding war has erupted when the media and entertainment industry is experiencing profound shifts, marked by intense competition and a transition to streaming amid a declining traditional linear television business. Here is a snapshot of how major media companies are performing: WARNER BROS DISCOVERY The media giant, which owns streaming service HBO Max, has a vast library of feature films, including franchises such as "Wonder Woman," "Harry Potter" and "Batman." Its studios include Warner Bros Motion Picture Group, DC Studios and Warner Bros Television Group. The company's total revenue for fiscal 2024 fell about 5% to $39.32 billion. The studios' revenue declined 5% to $11.61 billion. Warner Bros Pictures Animation began its journey with the iconic "Looney Tunes" in 1930 and has produced classics such as "The Iron Giant," "The Lego Movie" franchise and "Happy Feet." The company's direct-to-consumer unit, now named Streaming, includes the HBO Max and discovery+ streaming platforms and added 2.3 million net subscribers in the third quarter, reaching 128 million global subscribers, up 16% year over year. NETFLIX The streaming company's revenue rose about 16% to $39 billion last year. It had 301.6 million total subscribers in 2024. It primarily derives revenue from subscriptions and has also rolled out ad-supported plans. Major movies and series include "Stranger Things" and "KPop Demon Hunters". It added 589 new Netflix Originals in 2024, up nearly 4% from 2023. YOUTUBE Owned by Alphabet, YouTube said in March that it had over 125 million paying subscribers though those figures include users who are signed up for temporary free trials. Ads comprise the majority of YouTube's revenue, accounting for $36 billion of Alphabet's $350 billion in overall 2024 revenue. For the third quarter of 2025, the video streaming service posted advertising revenue of $10.26 billion. YouTube TV has seen rapid growth as a pay-TV platform and is the fourth-largest pay-TV provider in the U.S. with about 10 million subscribers. WALT DISNEY Walt Disney and brother Roy Disney founded "Disney Brothers Cartoon Studio" after signing a contract with distributor M.J. Winkler for "Alice Comedies" in October 1923. The studio was renamed Walt Disney Studios in 1926. Its portfolio also includes Pixar Animation Studios, Lucasfilm, Marvel Studios, Searchlight Pictures and 20th Century Studios. The company's total revenue rose 3% to $91.36 billion last year. Disney ended the fourth quarter of fiscal 2025 with 196 million Disney+ and Hulu subscriptions, an increase of 12.4 million from the year-ago period. Disney is home to popular film franchises such as "Avengers," "Guardians of the Galaxy," "Pirates of the Caribbean" and "Star Wars". It is also home to the ABC network. Cumulatively through September 28, 2024, the company had released about 1,100 full-length live-action films and 100 full-length animated films. Disney closed its $71 billion acquisition of Twenty-First Century Fox Inc's film and television assets in 2019, expanding its portfolio of some of the world's most popular characters, uniting Mickey Mouse, Luke Skywalker and Marvel superheroes with Fox's X-Men, "Avatar" and "The Simpsons" franchises.   PARAMOUNT GLOBAL Before its merger with Skydance Media, Paramount's total revenue fell 1% to $29.21 billion last year. Its TV Media segment revenue, which makes up the bulk of its sales, fell 7% to $18.78 billion, hurt by declines in linear advertising and fewer major sporting events on CBS. By contrast, the direct-to-consumer division, which includes Paramount+ and Pluto TV, surged 13% to $7.63 billion, driven by subscriber growth and price increases. Founded in 1912, the studio's library consists of more than 1,200 film titles including "Star Trek," "The Godfather" and "Mission: Impossible," with rights to an additional 2,800. Paramount is the parent of CBS and agreed to pay $16 million to settle a lawsuit filed by U.S. President Donald Trump against the network over a "60 Minutes" interview. In the third quarter of 2025, Paramount+ added 1.4 million subscribers, bringing its total to 79.1 million worldwide. The company also narrowed its streaming losses, signaling progress toward its goal of achieving domestic profitability in 2025. Paramount Pictures, considered the jewel of Paramount Global, has attracted many suitors over the years.   COMCAST Total revenue for Comcast, which owns NBCUniversal, rose 1.8% to $123.73 billion for fiscal 2024. Peacock streaming service generated revenue of $4.9 billion last year and as of the third quarter of 2025, Peacock had 41 million total paid subscribers. Universal Pictures, founded in 1912, has created classics such as "Jurassic Park," "Fast and Furious," "Minions," "Jaws" and "E.T. the Extraterrestrial". Its film library consists of more than 6,500 titles, according to its annual report. Comcast is in the process of spinning off its NBCUniversal cable channels, including USA Network and CNBC, into a new company called Versant early next year. AMAZON Amazon.com, best known for its e-commerce business, has built a significant presence in streaming through Prime Video, a service included with its Prime membership that produces a wide range of original programming, from hit series like "The Boys" and "The Lord of the Rings: The Rings of Power" to big-budget films, and also rents and sells movies and TV shows to both members and non-members.  In 2022, Amazon deepened its entertainment push by acquiring MGM for $8.5 billion, adding thousands of films and TV episodes, including the "James Bond" franchise, to its library. (Reporting by Jaspreet Singh, Kritika Lamba in Bengaluru and Juby Babu in Mexico City; Editing by Alan Barona and Anil D'Silva)

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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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