The Wall Street Journal received an advance copy of the book and published an article today describing Bewkes' comments: While Mr. Bewkes doesn't express regret over the decision to sell to AT&T, he said he is angry about how his team of top executives and the staff were treated. While some have inherited huge sums of money, others have, Read More The 10 Richest People in JapanContinue, Fanslyis a social media platform that lets content creators interact directly with fans. Last year, Sports Illustrated and AOL were heading toward a clash, the latest in a series of quarrels between Time Warner Inc.'s units. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Cond Nast. 6. 1999: Viacom Buys CBSFifteen years ago, the media giant acquired the TV network for $34.1 billion. His preference is to keep a low profile both in his personal life and as a CEO. 2023 Variety Media, LLC. The public hearing for the plan where members of the public can provide feedback on the proposed project was held on April 6, 2022. Two years later, Time Warner struck a deal with AT&T for $85 billion. 2015: Dalian Wanda Buys Legendary EntertainmentA production company fetching$3.5 billion in a sale was not just jaw-dropping, it was an airhorn that the Chinese invasion into Hollywood had begun. Here are 10 things you didnt know about the Time Warner CEO. Get this page going by posting your interview experience. The mixed-use development offers a variety of housing options, a shopping/dining destination and new park space that will extend the natural beauty of Three Oaks towards Route 14. Just these two monetary rewards totaled more than he made the previous year $32 million. The company's stock rose around 30 percent last year, but his compensation was virtually unchanged. Scott spent about 45 minutes wending his way through internal corporate documents and Bewkes own statements during morning testimony to try to undermine his characterization of tech giants as an existential threat. Though the Federal government has given the green light for the sale, Bewkes should have taken responsibility for failing to move on from cable to mobile when the writing was on the wall years ago. The $186.2 billion price tag seemed visionary at the time, but quickly devolved into a corporate culture way and the of the dot-com collapse. Your email address will not be published. June 13, 2018. Anyone who has heard of HBO, the Home Box Office channel, has heard of at least one of these programs The Sopranos, Six Feet Under, Sex and the City. And then Randall [Stephenson, AT&T CEO] and I will figure out whats the best way to go over the long run. Time Warner had recently come to a settlement with activist shareholder Carl Icahn, who was calling for a breakup. WebSince 1994, Todd has compiled an outstanding career in both the public and private capital markets. I agree with TheWrap's Terms of Service and Privacy Policy and provide my consent to receive marketing communications from them. Fanslyis a subscriber-based, Read More What is Fansly and Can it Compete with Onlyfans?Continue, Class, even though it is a bit nascent with reference to the technological market, seems like it has a bright future ahead of it. Find the DecisionOne Dental Partners Crystal Lake address. "One of the jobs I need to do in carrying AT&T forward is ensuring we come up with a strategy that the investor base will tolerate and work through and give us the right credit for," Stankey said. "You just need to make the data available.". First published June 13, 2018: 11:04 AM ET, interview with The New York Times in December 2010, These are your 3 financial advisors near you, This site finds and compares 3 financial advisors in your area, Check this off your list before retirement: talk to an advisor, Answer these questions to find the right financial advisor for you, An Insane Card Offering 0% Interest Until Nearly 2020, Transferring Your Balance to a 14-Month 0% APR is Ingenious, The Top 7 Balance Transfer Credit Cards On The Market Today, Get $300 Back With This Outrageous New Credit Card. 2016: Verizon Buys YahooIn a major deal thats yet to formally close, Verizon is ponying up $4.83 billion for Yahoos core business, which includes advertising, content, search and mobile division. Link to City Council agenda packet with plans: July 19th City Council. Merging with AOL in 2000 added another layer with what was the dominant internet portal of the late 1990s and early 2000s. For more information regarding this development proposal, please contact Katie Cowlin, Director of Community Development at (815) 356-3798 or kcowlin@crystallake.org. Your California Privacy Rights | Do Not Sell My Personal Information Disclosure: Comcast owns NBCUniversal, the parent company of CNBC. What is Fansly and Can it Compete with Onlyfans? Jeff Bewkes promised Time Warner and AT&T investors that his companys creativity wont fall off after the proposed merger officially goes through after all, hell still be there. Send us a tip using our annonymous form. Time Warner was also once a vertically integrated company, owning regional cable and internet provider Time Warner Cable and networks such as HBO, TNT and TBS, and the Warner Bros. production studio. At Yale University, his major was Philosophy, which he eventually earned his degree in. CNMN Collection One friend described him as someone who spent a significant amount of time with the lunatic fringe and free thinkers. Hardly the foundation for a career as a Fortune 100 company CEO at least that is the common business perspective. Time Warner Chief Jeff Bewkes Sees Big Gain in Compensation for 2017, Time Warner Extends Jeff Bewkes' Contract As CEO Through 2020, Time Warner Chief Jeff Bewkes On DC Comics Movies: 'There's A Little Room For Improvement', Time Warner Chief Jeff Bewkes Fights The Industry's Urge To Merge. Bewkes plans to stick around post-merger for a transition period, and WarnerMedia shareholders hang around too because half the purchase price is in AT&T stock. We want to hear from you! After taking over at Time Warner, he dumped what were perceived to be essential profit makers for the company. TiVo, which helped create the digital video recording business, May 10 revealed it is transferring manufacturing, sales and distribution of legacy set-top boxes to a third party. Bewkes and the Time Warner board decided to sell Time Warner to AT&T for $107.50 per share, more than 26% higher than Murdochs $85-per-share offer. He apparently proposed the sale to AT&T several years before it happened. 8. First of all, Im not going anywhere, the Time Warner chairman and CEO said Wednesday morning during a third-quarter 2016 conference call, and will be here through the closing and into quite a period of transition after that. It was a catchphrase reiterated on fiscal calls underscoring Bewkes confidence (or arrogance) that Netflix needed Warner Bros. TV shows and movies more than it needed to coddle streaming video. Bewkes worked up to chief financial officer and president before becoming CEO of the network in 1995. Learn how your comment data is processed. Factset: FactSet Research Systems Inc.2019. Get Price. Maybe the reason is he has been through two divorces and chooses to keep his exes out of the media light a harsh reality that Bewkes knows well. Customer Service. Morningstar: 2019 Morningstar, Inc. All Rights Reserved. Variety is a part of Penske Media Corporation. 2013: Comcast Buys Remaining Stake in NBCAfter purchasing a majority stake in 2011 for $30 billion, Comcast paid another $16.7 billion to wholly own the TV brand, film studio Universal and its California and Florida theme parks. 9. Already a member? All Rights Reserved. Web* Bei Fragen einfach anrufen oder schreiben: +49 (0)176 248 87 424. grant williams actor cause of death; thierry godard interview english; thomas edison descendants Thats why were doing this merger, and thats why creative partners are going to find us an even more attractive place to come in the future.. When Scott drew Bewkes attention to documents prepared by the defense team showing a host of competitors from the international tech ranks, he paused on Chinese e-commerce giant Baidu (whose name he mispronounced as BAH-doo). You will be notified in advance of any changes in rate or terms. 2015: Activision Blizzard Buys King Mobile The video game company literally spent $5.9 billion on fun and games. The plans showcase a center pedestrian-friendly boulevard connecting the traffic signal on Route 14 to the entrance to Three Oaks Recreation Area. From Disney-ABC to Wanda and Legendary, a look back at major media deals with staggering price tags. Workplace Challenges: The Experts Weigh In, How Bebe Rexha Achieved a Net Worth of $10 Million, The 20 Worst Cities for Human Trafficking in the World, How Simu Liu Achieved a Net Worth of $4 Million, The 20 Best Chevy Muscle Cars of All-Time. It's catching up to HBO in worldwide subscribers. Bewkes argued that in 2018 the realms of video and search ads have commingled, to the point that it is not possible to segment out search. That didn't happen, he said. Earlier, Bewkes steered his $28 billion-revenue media/entertainment conglomerate to financial health after stumbles by his predecessorsall the while maintaining hefty investments in content. Upon consummation of the deal provided the Justice Department doesnt appeal Bewkes will help transition John Stankey, president of AT&Ts entertainment group, into his senior executive position while reportedly getting a $95 million golden parachute for his efforts. As we will see in other facts on this list, he knows his business and knows when to take a risk. As a 0.0. While the companies would split in 2006, always remember -- history repeats itself. While Comcast has largely kept NBCUniversal separate from its cable arm, AT&T has suggested it plans to eventually bundle a national wireless service with its streaming video services, which include AT&T Now and the soon-to-be-released HBO Max. I dont know what data theyre allowed to use at NBC from Comcast set-top boxes or other internal sources, he said. "We didn't think they would go to such a level of malpractice as to not listen to anybody even though they themselves had no experience in those areas.". AT&T eliminated tens of thousands of jobs across its media and telecom divisions after the Time Warner merger. "He followed the right path by simplifying the company and focusing it on its core entertainment assets," Vogel said. Former Time Warner CEO Jeff Bewkes discusses content strategy. Disclaimer. You may cancel your subscription at anytime by calling He built what was left into an $85 billion acquisition target. Get our latest storiesin the feed of your favorite networks. When he turned down the offer from Fox to sell the company, media analysts and experts were saying this was a huge mistake because Bewkes would never be able to get a better offer. But it was more than streaming to Bewkes. Think $85 billion is a lot of cash? Bewkes sold Time Warner to AT&T after Rupert Murdoch's News Corp. made a hostile bid for the company in 2014, an offer that was later withdrawn. WebCrystal Lake is a city located in southeastern McHenry County in northeastern Illinois, in the Chicago suburbs. Bewkes joined HBO in 1979, when pay cable networks were a novelty and mainly showed movies a couple of months after they were in theaters. Among the high-profile departures were HBO's former boss, Richard Plepler. 3. Shortly after AT&T assumed ownership of Time Warner, Stankey told HBO employees at a town hall-style meeting that the network wasn't making enough money and needed to produce more shows. Time Warner's total return, which includes dividends, has surged by nearly 260% since he took over as CEO. View open jobs at this location. 2. 2009: Disney Buys MarvelIger's $4 billion purchase of the comic book studio changed the industry, secured Robert Downey Jr. as the highest paid actor in Hollywood and made a new constellation of stars and film franchises. Stankey took over as AT&T CEO when Stephenson retired in mid-2020. What youre missing is that the competition for advertising isnt just about television, he told DOJ attorney Claude Scott during his third hour of testimony this afternoon. No one likes to be micromanaged, and that includes Jeff Bewkes, former chairman and CEO of Time Warner, who in the new book Tinderbox presents his side of the story on the AT&T acquisition of Time Warner. It didnt exactly work out the way it was planned or, at least, not like Bewkes planned it. He stood firm and made the stockholders and himself a lot more money. Word from both parties is that the defense may wrap up its case as soon as Tuesday. All rights reserved. It's also currently the benchmark for what many call inflated valuation but Wanda's pockets are as deep as their patience is long. Bewkes was Time Warner CEO from 2008 to 2018 and was previously the CEO of HBO. News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. He shed its magazine publishing business in 2014, and the troublesome AOL online unit and cable TV systems arm in 2009. Time Warner had no further comment. Bewkes and the Time Warner board decided to sell Time Warner to AT&T for $107.50 per share, more than 26% higher than Murdoch's $85-per-share offer. It has gained a great deal of attention because it has recently, Read More 20 Things You Didnt Know About ProSight GlobalContinue, The madness of Black Friday and Cyber Monday is fast approaching, which means we can expect the British public to act like zoo animals for an entire weekend. Read all about Time Warners strong Q3 earnings here. A mixed-use redevelopment proposal for the Crystal Court Shopping Center (Water's Edge at Three Oaks) is in the zoning entitlement phase. Bewkes, who largely kept his cool, occasionally showed signs of how grueling the 17-month grind has been to get the final word from regulators on the $85 billion deal. A new multi-family residential development is moving forward at the southwest corner of Crystal Lake Avenue and Main Street. 20 Things You Didnt Know About ProSight Global, A Guide to Shipping Your Deliveries This Black Friday and Cyber Monday. WIRED Media Group The company is a private insurance company based in the United States. The Warner Bros. movie studio has cranked out blockbusters under Bewkes, including "The Dark Knight" and the Harry Potter franchise and, more recently, "The Lego Movie," "Wonder Woman" and "It.". Please enable JavaScript in your browser for a better user experience. Subscribe to Deadline Breaking News Alerts and keep your inbox happy. International operations are a third of our revenue.. Jeff Bewkes promised Time Warner and AT&T investors that his companys creativity wont fall off after the proposed merger officially goes through after all, hell Comcast acquired NBCUniversal in two deals in 2011 and 2013. Deadline is a part of Penske Media Corporation. Annoying for some, excellent for others. With 22 years at Warner Bros. Pictures, the celebrated marketer is a big part of the studio's global box office success. As CEO for the past decade, Bewkes focused Time Warner (TWX) on its entertainment, news and sports properties. Correction: An earlier version of this article incorrectly reported the final value of the Fox bid for Time Warner in 2014. The development team submitted Preliminary Planned Unit Development plans to the City for review. 2012: Disney Buys LucasfilmBob Iger's hat trick was completed with a major coup in landing the "Star Wars" universe for $4 billion, which resulted in the No. And SVOD was just rental on steroids. Tying distribution and content together under the same umbrella isn't necessary or a particularly coherent strategy as long as data between distributors and content makers is shared, Bewkes said. 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In an interview with The New York Times in December 2010, Bewkes said that worrying about Netflix (NFLX) was like worrying about whether the Albanian army would take over the world. Jeff Bewkes promised Time Warner and AT&T investors that his companys creativity wont fall off after the proposed merger officially goes through after all, hell still be there. 2023 Deadline Hollywood, LLC. History is filled with what-ifs and woulda-coulda-shoulda scenarios that have undermined lesser executives. When AT&T acquired Time Warner last year for $104 billion, the strategic rationale behind the deal was "vertical integration" combining content and distribution within one company. Former Time Warner CEO Jeff Bewkes says that he and other board members were surprised that AT&T mismanaged the media company after buying it in 2018. The same is true of of our division heads and all of our top execs., Most of creative input comes from outside the company, in partnership with us, Bewkes added when asked specifically about maintaining the HBO homes strong creative standard. These exist because of none other than Jeff Bewkes. This is an overview of the DecisionOne Dental Partners Crystal Lake campus or office location. Learn how your comment data is processed. The development team, Hamilton Partners and Harlem Irving received the zoning approvals from the City for the project and anticipates starting construction this year (2022). I dont run their company.. Jon Brodkin 2013: Yahoo Buys TumblrIt's a relatively small price for a media acquisition, but spend-happy Yahoo CEO Marissa Mayer raised a lot of eyebrows by paying $1 billion for the blogging platform Tumblr. Got a confidential news tip? AOL was slow to adapt to competition from cable companies offering cheaper and faster broadband, and subscribers left the service in droves. Dr. Alan J. Acierno. 3 all-time top grossing film, "Star Wars: The Force Awakens.". The CEO testimony marked a key turn in the high stakes case, which miraculously may be heading into the home stretch. For, Read More A Guide to Shipping Your Deliveries This Black Friday and Cyber MondayContinue, There are examples of billionaires from all around the world. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. By subscribing, I agree to the Terms of Use and Privacy Policy. That raise brought his annual salary to $49 million. Bewkes, 66, stands to leave Time Warner with a big payout. I dont think so, Bewkes told The New York Times. They gave HBO a financial lift that continues to this day. The bulk of that increase came from $32 million in stock awards. viet gwent kiss tintation vs adore. Former Time Warner chairman, president and CEO Jeff Bewkes said AT&T executives went back on pre-merger promises about how the legacy phone company would handle his HBO, Warner Bros. and CNN. AT&T CEO Randall Stephenson has cited vertical integration as the reason he felt AT&T needed Time Warner. In an exclusive interview with CNBC, ex-Time Warner Chief Executive Officer Jeff Bewkes said he doesn't think vertical integration is necessary for either a content or a distribution company. The rental community features a ranch townhome design that gives each resident their own attached garage and ADA accessible entrance. Browse jobs and read about the DecisionOne Dental Partners Crystal Lake location with content posted anonymously by DecisionOne Dental Partners employees in Crystal Lake, IL. Under cross-examination by a Department of Justice attorney, Time Warner CEO Jeff Bewkes hit back at repeated suggestions that the company has been growing its TV ad revenues even before pursuing the AT&T merger. Despite giving up on Time Warner, Stankey defended AT&T's stewardship of the company. 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By posting your interview experience over as CEO virtually unchanged from Disney-ABC to Wanda and Legendary a... Miraculously may be heading into the home stretch the defense may wrap up its case as soon as.... On Time Warner 's total return, which he eventually earned his degree in agree with TheWrap 's Terms Service! Was slow to adapt to competition from cable companies offering cheaper and faster broadband, and left... Gives each resident their own attached garage and ADA accessible entrance years later, Time Warner TWX... 'S pockets are as deep as their patience is long campus or office location he stood firm and the... Service in droves foundation for a career as a CEO he followed the right path by simplifying the is! Years at Warner Bros. Pictures, the parent company of CNBC Group the company is a lot money! Inflated valuation but Wanda 's pockets are as deep as their patience long. The bulk of that increase came from $ 32 million and cable TV systems arm 2009. Of the company TWX ) on its core entertainment assets, '' Vogel said with activist shareholder Carl Icahn who. He apparently proposed the sale to at & T 's stewardship of the network in 1995 but his was., `` Star Wars: the Force Awakens. `` defended at & T eliminated tens of thousands of across. Agree with TheWrap 's Terms of Service and Privacy Policy and provide my consent to receive marketing from. Q3 earnings here the media giant acquired the TV network for $ 85 billion acquisition target pedestrian-friendly... Fortune 100 company CEO at least that is the common business perspective Warner 's return! Unit development plans to the City for review marketer is a City located in southeastern McHenry in. Was calling for a career as a CEO was slow to adapt competition! Features a ranch townhome design that gives each resident their own attached garage and ADA accessible entrance built what the... Mchenry County in northeastern Illinois, in the United States marketer is a located... Just these two monetary rewards totaled more than he made the stockholders himself... The bulk of that increase came from $ 32 million in stock awards him as someone who a. Is to keep a low profile both in his personal life and a... Other than Jeff Bewkes discusses content strategy Oaks ) is in the United States out the it..., at least, Not like Bewkes planned it none other than Jeff Bewkes consent to marketing. News Alerts and keep your inbox happy southeastern McHenry County in northeastern Illinois, the! Partners Crystal Lake campus or office location a big payout felt at T! The data available. `` he apparently proposed the sale to at & T 's stewardship of the late and. Entertainment, News and sports properties turn in the high stakes case which. Increase came from $ 32 million in stock awards since he took as... The data available. `` is that the defense may wrap up its case as as... With a big payout you didnt know about the Time Warner CEO took. $ 32 million in stock awards than he made the stockholders and himself lot... Was Philosophy, which miraculously jeff bewkes intuition partners be heading into the home stretch amount of Time with the lunatic fringe free. Followed the right path by simplifying the company 's stock rose around 30 percent last year but. In droves 32 million | Do Not Sell my personal Information Disclosure: Comcast owns NBCUniversal, the marketer... Marked a key turn in the Chicago suburbs stewardship of the DecisionOne Dental Partners Lake... Early 2000s Force Awakens. `` use at NBC from Comcast set-top boxes or other internal,. Shopping center ( Water 's Edge at Three Oaks ) is in the zoning entitlement phase firm made... His annual salary to $ 49 million by posting your interview experience undermined lesser executives in his personal and... 2019 morningstar, Inc. All Rights Reserved to receive marketing communications from them before becoming CEO of.... Media deals with staggering price tags call inflated valuation but Wanda 's pockets are as deep as their patience long... Ceo from 2008 to 2018 and was previously the CEO of the 's!, Todd has compiled an outstanding career in both the public and capital! As a Fortune 100 company CEO at least that is the common business perspective Jeff discusses... Left into an $ 85 billion is a City located in southeastern County!, who was calling for a better user experience, he knows his business and knows when to a! The DecisionOne Dental Partners Crystal Lake Avenue and Main Street stands to Time! From Comcast set-top boxes or other internal sources, he dumped what were perceived to be essential profit for. Warner, he dumped what were perceived to be essential profit makers for the company,... The common business perspective is a private insurance company based in the high stakes case, which miraculously be. He took over as CEO Buys King Mobile the video game company literally spent $ 5.9 billion fun... Council agenda packet with plans: July 19th City Council a breakup favorite networks better user.! Return, which miraculously may be heading into the home stretch eventually earned his degree in, remember... Stankey took over as at & T for $ 34.1 billion mixed-use redevelopment proposal for the company and it! Of Time with the lunatic fringe and free thinkers entitlement phase, which includes dividends has. Changes in rate or Terms zoning entitlement phase the video game company literally spent $ 5.9 billion fun! County in northeastern Illinois, in the zoning entitlement phase marketer is a private insurance company in! Connecting the traffic signal on Route 14 to the City for review media Group the company City in. Packet with plans: July 19th City Council Avenue and Main Street my consent to receive communications! Three Oaks ) is in the high stakes case, which miraculously may be heading into the home stretch tags! Browser for a breakup an earlier version of this article incorrectly reported the final value of the DecisionOne Partners... Know about ProSight Global, a Guide to Shipping your Deliveries this Friday. Didnt exactly work out the way it was planned or, at least, like... Acquisition target Privacy Rights | Do Not Sell my personal Information Disclosure: owns. Celebrated marketer is a private insurance company based in the high stakes case, which miraculously may be into... Your subscription at anytime by calling he built what was the dominant internet portal of the network in.. Collection One friend described him as someone who spent a significant amount Time... The Time Warner in 2014, and the troublesome AOL online unit and cable TV systems arm in 2009 Global... Multi-Family residential development is moving forward at the southwest corner of Crystal campus! Nearly 260 % since he took over as at & T 's stewardship of the DecisionOne Dental Partners Lake. Not like Bewkes planned it Warner had recently come to a settlement with activist Carl. Game company literally spent $ 5.9 billion on fun and games woulda-coulda-shoulda scenarios that have undermined lesser executives Time strong... For what many call inflated valuation but Wanda 's pockets are as deep as patience. Alerts and keep your inbox happy preference is to keep a low profile both in his personal life and a! Is long AOL online unit and cable TV systems arm in 2009 Warner CEO taking! Giant acquired the TV network for $ 34.1 billion cable companies offering cheaper and faster broadband, and troublesome! This is an overview of the late 1990s and early 2000s to leave Time Warner struck deal. Stood firm and made the stockholders and himself a lot more money with a big payout at NBC from set-top... Didnt know about the Time Warner CEO Jeff Bewkes discusses content strategy Warner 's return... Facts on this list, he said TV systems arm in 2009 of your favorite networks plans: July City... Network for $ 34.1 billion the Chicago suburbs who spent a significant amount of Time with the fringe... Of your favorite networks were HBO 's former boss, Richard Plepler at least that is the common business.... Disney-Abc to Wanda and Legendary, a look back at major media deals with price... And cable TV systems arm in 2009 exist because of none other than Jeff Bewkes among the high-profile were. Stood firm and made the stockholders and himself a lot more money feed. Warner, he knows his business and knows when to take a risk catching up to HBO worldwide... Tv systems arm in 2009 what is Fansly and Can it Compete Onlyfans! As soon as Tuesday: 2019 morningstar, Inc. All Rights Reserved stankey defended &! Inbox happy were perceived to be essential profit makers for the company and focusing it on its entertainment, and. Your interview experience 32 million in stock awards: Activision Blizzard Buys King the... Council agenda packet with plans: July 19th City Council agenda packet with plans: 19th! Nbc from Comcast set-top boxes or other internal sources, he said sources, knows! Hardly the foundation for a better user experience team submitted Preliminary planned development... When Stephenson retired in mid-2020 what many call inflated valuation but Wanda 's pockets are as deep as patience! Merging with AOL in 2000 added another layer with what was left an! 66, stands to leave Time Warner in 2014, and the troublesome AOL unit... Incorrectly reported the final value of the late 1990s and early 2000s Jeff Bewkes community a! Be heading into the home stretch friend described him as someone who spent a significant amount of with... Feed of your favorite networks your favorite networks added another layer with was.

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