Hollywood
Benedict Cumberbatch to receive Variety Award
NEW DELHI: Renowned British actor Benedict Cumberbatch will receive The Variety Award the Moet British Independent Film Awards at the ceremony on 7 December at Old Billingsgate.
The recipient of The Variety Award was announced today by Johanna von Fischer and Tessa Collinson, joint Directors.
The Variety Award recognises a director, actor, writer or producer who has helped to bring the international spotlight on the UK. The Variety Award was bestowed upon Paul Greengrass last year and has previously been awarded to Jude Law, Kenneth Branagh, Liam Neeson, Sir Michael Caine, Daniel Craig, Dame Helen Mirren and Richard Curtis to name a few.
The news coincides with the release of his latest film, The Imitation Game which is nominated for four Moet British Independent Film Awards: Best British Independent Film, Best Screenplay for Graham Moore; Best Actress for Keira Knightley and Best Actor for Benedict Cumberbatch.
Cumberbatch commented: “I am delighted to receive this prestigious award and would like to thank Variety and The Moet British Independent Film Awards for this incredible honour. It is made even more special by the recognition of The Imitation Game in this year’s nominations, a film I am very proud to be a part of.”
Cumberbatch is best known for playing the title role of Sherlock Holmes in Steven Moffat and Mark Gatiss’ stunning adaption of the Conan Doyle books. It is a role that has earned him international acclaim and several awards including an Emmy as Best Actor in 2014.
Benedict is currently filming The Hollow Crown II for BBC and Neal Street Productions, in which he plays the legendary Richard III for director Dominic Cooper and alongside Dame Judi Dench.
Now in its 17th year, the Awards were created by Raindance in 1998 and set out to celebrate merit and achievement in independently funded British filmmaking, to honour new talent, and to promote British films and filmmaking to a wider public.
Previous winners of the prestigious Best British Independent Film Award include Slumdog Millionaire.
Hollywood
Warner Bros board reopens talks after Paramount raises bid to $31 a share
Netflix has four days to revise $27.75-a-share proposal
NEW YORK: The board of Warner Bros Discovery has reopened talks with Paramount Skydance after the rival bidder raised its cash offer to $31 a share, intensifying a takeover contest for one of Hollywood’s most prized studios, Reuters reported.
Paramount’s revised proposal has pulled Warner Bros’ directors back to the negotiating table, even as Netflix risks losing its status as the preferred suitor. The board said it had not yet concluded whether Paramount’s offer was superior to the Netflix deal, but confirmed it would engage further with both sides. Should a higher bid emerge, Netflix has four business days to respond.
In a bid to strengthen its hand, Paramount increased the termination fee payable if regulators block the deal to $7 billion, up from $5.8 billion. It also agreed to pay Warner shareholders 25 cents a share per quarter for every quarter beyond 30 September that the transaction fails to close. Paramount further offered to inject additional equity should lenders raise concerns about financing at completion.
Paramount’s $31-a-share bid is an all-cash offer for the entire company. Netflix, by contrast, has proposed $27.75 a share in cash, valuing the deal at $82.7 billion including net debt, for Warner’s film and television studios, content library and the HBO Max streaming platform.
The comparison is muddied by structure. Warner plans to spin off its television networks into a separately listed company, Discovery Global. The ultimate value of Netflix’s offer therefore depends on the spun-off unit’s debt load and market valuation. The board estimates Discovery Global could trade between $1.33 and $6.86 a share, potentially lifting overall shareholder returns above Paramount’s earlier $30-a-share proposal.
Either outcome would reshape Hollywood’s balance of power, handing the winner a deep content vault and enduring franchises including Game of Thrones and DC Comics. Netflix has ample cash to raise its offer, while Paramount argues it faces fewer regulatory hurdles in the United States. It has also signalled readiness to mount a board challenge at Warner’s annual meeting if its proposal is rejected.
That pressure is building. One potential director nominee floated by Paramount is Pentwater Capital Management chief executive Matthew Halbower, one of Warner’s largest shareholders. Separately, activist investor Ancora Holdingshas accused the board of insufficient engagement with Paramount.
Warner is due to report quarterly results this week, which may shed more light on the value of its cable television assets. Paramount reports earnings on Wednesday. A shareholder vote on the Netflix deal is scheduled for 20 March.
