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Warner Bros. Entertainment Inc. (commonly known as Warner Bros. and abbreviated as WB), is an American diversified multinational mass media and entertainment conglomerate headquartered at the Warner Bros. Studios complex in Burbank, California, and a division of AT&T's WarnerMedia. Founded in 1923 by brothers Harry, Albert, Sam, and Jack Warner, the company established itself as a leader in the American film industry before diversifying into animation, television, and video games, and is one of the "Big Five" major American film studios, as well as a member of the Motion Picture Association (MPA).
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Discovery Stock Soars 18% in Premarket Trading on News of WarnerMedia Merger

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thewrap.com

Discovery stock has jumped 18% in premarket trading on news the company is merging with spun-off WarnerMedia.AT&T, which is spinning off its entertainment brand, is up 5%.Early Monday, AT&T announced it was spinning off WarnerMedia into an independent company that will merge with Discovery Inc.

Per the companies, the all-stock deal will create an entertainment juggernaut that seeks to rival Netflix and Disney, and puts the likes of Warner Bros., CNN, Turner and Discovery’s stable of non-fiction networks under one roof — as well as two competing streaming services, Discovery+ and HBO Max.

It also combines WarnerMedia’s U.S. sports rights like the NBA, MLB and March Madness with Discovery international sports giant Eurosport.The transaction,.

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