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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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What Would Warner Bros. Discovery-Paramount Merger Mean for Cable TV? Some Networks Would Likely Be Sold Off

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variety.com

Jennifer Maas TV Business Writer Mega media merger mania is once again afoot in Hollywood with very, very early talks between Warner Bros.

Discovery‘s David Zaslav and Paramount Global’s Bob Bakish about a potential merger of the two companies. Analysts and industry sources have already raised a number of questions about what a WBD-Paramount combo would look like and the effect it could have on the larger TV and film landscape.

The first piece of the puzzle in any serious integration plans would be sorting out what’s to be done with WBD and Paramount’s U.S.

cable networks, MoffettNathanson’s team of media analysts wrote in a research note Thursday, after news of the merger talks broke Wednesday afternoon. “We think any regulatory review of a WBD/PARA combo would likely start with WBD’s domestic cable portfolio, which already accounts for a greater share of linear time viewed than that of any other company, even including broadcast networks,” the MoffettNathanson analysts write.

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