Hollywood
Frances McDormand honoured in Venice
MUMBAI: Oscar-winning actress Frances McDormand has been honoured with the visionary talent award at the Venice Film Festival, ahead of the premier of her new HBO mini-series, Olive Kitteridge which she called the culmination of her life’s work.
McDormand, who is married to director Joel Coen and has starred in several Coen brothers films including Fargo and Burn After Reading, was presented with the Visionary Talent Award for a career that began on Broadway in 1984.
Talking about her new project, McDormand said that she was gratified to be at a film festival with Olive Kitteridge.
In Olive Kitteridge, McDormand plays a witty, acerbic maths teacher in a New England town in a story that spans 25 years, based on a Pulitzer prize-winning collection of short stories by Elizabeth Strout, and directed by Lisa Cholodenko. It is set to air in the US in November.
The actress made her feature film debut 30 years ago in Coen’s Blood Simple. Talking about working in television she said, “Television has allowed all of us to reinvent on our own terms what we want our professional lives to be. For a female elder, action roles in films are limited, but television opens up new possibilities.”
McDormand won the Best Actress Oscar for Fargo and has also been nominated three more times for Mississippi Burning (1988), Almost Famous (2000), and North Country (2005).
Hollywood
Paramount seeks FCC nod for foreign-backed $110 billion WBD deal
Gulf funds back merger as foreign stake nears 50 per cent, control stays with Ellison
NEW YORK: Paramount Global has approached the Federal Communications Commission seeking approval for foreign investments tied to its proposed $110 billion acquisition of Warner Bros. Discovery, marking another key step in one of the biggest media deals in recent years.
According to regulatory filings made public this week, the investment backing the deal includes major Gulf sovereign funds such as the Public Investment Fund, the Qatar Investment Authority and L’imad Holding Company. Together, foreign investors are expected to hold just under 50 per cent of Paramount’s equity once the transaction is complete.
Despite the sizeable international backing, Paramount has made it clear that voting control will remain with the family of chief executive David Ellison, ensuring the company stays firmly under US control as required by broadcasting rules.
A company spokesperson described the FCC filing as routine for transactions involving foreign capital and stressed that it does not impact the closing of the deal. Under US law, any significant foreign ownership in broadcast licence holders must undergo regulatory review.
The merger itself has already cleared a major hurdle, with Warner Bros. Discovery shareholders approving the deal on 23 April. The transaction values the company at $31 per share, a 147 per cent premium to its earlier trading price, reflecting strong strategic intent behind the tie-up.
If completed, the combined entity will bring together a vast portfolio including Warner Bros. film studios, HBO Max, and networks such as CNN, TNT and Discovery Channel. The deal is currently expected to close in the third quarter of 2026.
However, scrutiny is intensifying. The US Department of Justice has issued subpoenas seeking details on the merger’s potential impact on cinema competition, streaming services and content licensing. Reviews are also anticipated in international markets, including the United Kingdom.
There is also a financial safety net built into the agreement. If regulators ultimately block the deal, Paramount would face a $7 billion break-up fee. Additionally, the company has taken on $2.8 billion in obligations previously owed by Warner Bros. Discovery to Netflix following an earlier terminated arrangement.
Paramount maintains that easing foreign ownership barriers will unlock fresh capital and strengthen its ability to compete in a rapidly evolving media landscape. For now, the spotlight remains on regulators, whose decision will determine whether this global media consolidation moves from script to screen.
