Hollywood
Aishwarya Rai and Freida Pinto bond in Cannes
MUMBAI: It was an afternoon of fashion, beauty and bonding for L’Oréal Paris ambassadors Aishwarya Rai Bachchan and Freida Pinto at a special shoot for L’Oréal Paris at Cannes. It is the first time that Aishwarya and Freida are working together. Freida Pinto was quite excited to be doing a shoot with Aishwarya and immediately got up to greet and hug her when she came into the L’Oréal Paris Glamour Room at The Martinez. Both immediately got chatting about the festival and in fact Aishwarya was also heard gushing about her daughter Araadhya to Frieda.
Aishwarya and Freida were both overheard discussing the unexpected delay in Aishwarya’s arrival at Cannes which resulted in her missing the first red carpet. Freida mentioned she was really happy to have gotten a chance to finally do a shoot with Aishwarya and couldn’t wait to see her L’Or Lumi?re inspired red carpet look.
Speaking about Freida, Aishwarya said, “I always look forward to meeting L’Oréal Paris spokespeople at Cannes every year. I have met Freida for the first time in person. All of us L’Oréal Paris spokespeople are so different, but each one of us is worth it.”
Both the ladies had quite the afternoon bonding over L’Oréal Paris and the Festival de Cannes. Freida Pinto attended the event on 17 and 18 May, while Aishwarya will walk the red carpet on 20 and 21 May.
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.
