Hollywood
World Film Premiere Festival to coincide with International Film Expo in Manila
NEW DELHI: A World Premiere Film Festival is to be launched by the Film Development Council of the Philippines (FDCP) in June next year to coincide with the annual International Film Expo (IFX)
The inaugural edition will host 25 to 30 feature films including a 12-film competition and a programme of films from ASEAN countries. Organisers expect that the competition films will be world premieres or, at least, Asian premieres.
The festival has already struck a partnership with the Shanghai International Film Festival, which will next year screen a programme of films from the Philippines. The Manila event will be hosted either before or after SIFF.
WPFF will be hosted at SM Mall of Asia and at the new SM Aura in Metro Manila’s Taguig City, which includes a 449-seat IMAX screen.
The festival also hopes to introduce a distribution component so that films have a life after the festival.
According to FDCP Head Briccio G. Santos, he is already in talks with various embassies in Manila – including those of Italy and Spain – to secure films to broaden the range of foreign films reaching local cinemas.
Hollywood
David Zaslav could net up to $887m as Warner Bros Discovery sells up
Media mogul strikes gold as Paramount Skydance deal triggers massive windfall
NEW YORK: While the average office worker might hope for a nice clock and a round of applause upon leaving, David Zaslav is looking at a slightly more substantial parting gift. The chief executive officer of Warner Bros Discovery is positioned to receive a windfall of up to $887 million following the company’s blockbuster $110 billion sale to Paramount Skydance.
In a twist of corporate fate that feels scripted for the big screen, the deal marks the finale of a high-stakes bidding war. It comes after Netflix, once the frontrunner, decided to exit stage left and abandon its pursuit of the HBO Max parent company.
While most people receive a standard final paycheck, the filing released on Monday suggests Zaslav’s exit package is built a little differently. If the deal closes as expected in the third quarter of 2026, the numbers break down like this:
The cash out: A severance package of $34.2 million, covering his salary and bonuses.
The equity: $115.8 million in vested shares he already owns.
The future fortune: A massive $517.2 million in unvested share awards, essentially “future stock” that turns into real money the moment the ink dries on the merger.
Perhaps the most eye-catching figure is the $335 million earmarked for tax reimbursements. However, this particular pot of gold has an expiration date.
The company noted that these reimbursements are tied to specific tax-code rules that significantly decline as time passes. If the deal hits a snag and drags into 2027, that tax payout drops to zero. With hundreds of millions on the line, the chief executive officer likely has every incentive to ensure the closing process moves at double-speed.
