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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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Media Stocks Mixed as Markets Tumble Toward Bear Territory

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variety.com

Todd Spangler NY Digital EditorAmid fears of a looming global recession, shares of media companies saw a mixed day of trading Friday as major market indexes marked their the longest string of weekly losses in decades.The S&P 500 index closed flat thanks to a late-session rally, but it was down for the week and is off 18.7% year to date, on the edge of the unofficial 20% threshold indicating a bear market.

The Nasdaq Composite, weighted toward the tech sector, dipped 0.3% Friday and has declined 28% since the beginning of 2022. For both indexes, it’s their longest streak of weekly losses since the 2001 dot-com bust.The Dow Jones Industrial Average also was essentially flat Friday, down 2.8% for the week.

That marked its eighth straight weekly loss, the longest since 1932, according to market analysts. After rallying late in the day, some media stocks ended in positive territory.

Those included Warner Bros. Discovery (+1.4%), Paramount Global (+1.3%) and Fox Corp. (+0.4%). Decliners included Disney (-0.7%), Comcast (-0.02%), AMC Networks (-3%) and Lionsgate (-3.6%).Netflix closed up 1.4% Friday, but that is coming after a massive sell-off in the streamer’s shares over the last four months after the streamer missed subscriber targets for Q4 of 2021 and the first quarter of 2022.

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