Hollywood
Fourteen films make it to co-production Forum of San Sebastian
NEW DELHI: Fourteen projects from a total of 181 projects submitted from 22 countries are taking part in the third Europe-Latin America Co-Production Forum as part of the 67th San Sebastian International Film Festival.
The Forum will be held from 22 to 24 September. The selected films are largely from Latin American countries including Argentina, Belgium, Bolivia, Brazil, Chile, Colombia, Costa Rica, Cuba, Dominican Republic, Ecuador, El Salvador, France, Guatemala, Mexico, Panama, Peru, Puerto Rico, Spain, Sweden, United Kingdom, Uruguay and Venezuela.
During the Forum, those responsible for the projects will work to a busy meeting agenda with industry professionals from across the world. The aim by attending the Forum is to make contact with potential co-producers, financial partners and sales agents in order to complete their funding and ensure their international production and distribution.
In addition, and as part of the festival’s collaboration with the Ibermedia Programme, a project selected in the workshop to develop film projects from Central America and the Caribbean will also participate in the Co-Production Forum.
The Europe-Latin America Co-Production Forum is fostered by the Basque Government Department of Economic Development and Competitiveness and the Ministry of Industry, Energy and Tourism.
As in previous editions, the final selection includes projects by directors and producers of recognised prestige alongside others by new directors and recently created production companies. Nine of the 17 projects presented in 2012 have been completed, while three of the 16 presented in 2013 have been filmed, and shooting is expected to start on another six in the coming months.
For the second year running, the EGEDA Award for Best Project at the Europe-Latin America Co-production Forum 2014 will be presented. The Award comes with a cash prize of €10,000 and is sponsored by EGEDA, the Audiovisual Producer’s Rights Management Association.
As a new feature this year, the Festival will also organise a Focus on Canada with Telefilm Canada. A delegation of 12 Canadian producers will come to San Sebastian to experience the Festival in person, make professional contacts and participate in the Co-production Forum and the other Industry Club activities.
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.
