2 January 2013 8:32 AM, PST | The Hollywood Reporter | See recent The Hollywood Reporter news »

Big Hollywood conglomerate stocks hit 52-week highs in early Wednesday ratings as stock markets in the U.S., Europe and Asia posted gains following a U.S. deal to avoid the much-discussed "fiscal cliff," which would have led to a range of tax increases. Shares of CBS Corp. were up 1.6 percent as of 11:20am Et after earlier hitting a 52-week high of $39.77. Time Warner's stock was up 3.4 percent at $49.47 after hitting a high of $49.63, while Rupert Murdoch's News Corp. was up 3.4 percent at $26.

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- Georg Szalai

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