English Entertainment
Sony pictures networks india announce the indiawinners for the international environmental short film festival – ‘the picture this festival for the planet’
MUMBAI: Sony Pictures Networks India announced the three India winners including the 2 runners-up of the Picture This Festival for the Planet, a global short-film competition for emerging filmmakers, everyday storytellers and change makers worldwide, to showcase the positive future they see for our planet. The winner for the India region is Vinamra Pancharia, while Shashank Bhosale and Maulik Sisodia are the first and second runners-up, respectively. Winner Vinamra Pancharia, will represent India as a regional finalist at the Picture This Festival for the Planet event in Los Angeles on July 31, where his 5.15-minute film ‘Tubelight’, will be screened alongside films of the seven other regional finalists.
The Winning Entry – Tubelight, is an inspiring story of a homeless child who dreams of going to school but doesn’t have the means to study. He is steadfast in his efforts and sits outside a classroom window to learn everything he can. The film showcases how he never loses his enthusiasm to pursue his dream of education, by practicing what he learns daily under the street lights. Eventually, his dream sees the light of day.
Link to the film Tubelight:https://www.sonypicturethis.com/gallery?video=Oyr_y0KSntA
The first runner-up – The Birdman of Chorao, by Shashank Bhosale, depicts the story of a boatman Uday Tukaram Mandrekar, who lives on the island of Chorao in Goa, India. Intrigued by the influx of tourists who visit his island, he took to learning and guiding birdwatchers in his canoe. The film showcases his journey in protecting the various species of birds, their habitat, learning their migration patterns and engaging fellow villagers to help him in the conservation of the mangrove ecosystem.
The second runner-up – Resurgence, by Maulik Sisodia, is a story that encapsulates the survival sprit of Indians. It takes on the issue of climate change and how villagers in Rajasthan are dealing with water shortage and drought. The film highlights the journey and efforts taken by visionaries and organisations to educate and engage youth from villages to combat water problems in India.
In India, submissions were evaluated by a jury comprisingNitin Nadkarni, Chief Financial Officer, Sony Pictures Networks India; Neeraj Vyas, Business Head – SAB, PAL, Hindi Movies and Music, Sony Pictures Networks India and Tushar Shah, Business Head – English Cluster, Sony BBC Earth and AATH.
English Entertainment
Warner Bros. Discovery shareholders approve Paramount deal
Investors wave through a $111 billion megamerger but deliver a stinging, if toothless, rebuke over half-a-billion-dollar goodbye packages
NEW YORK: The shareholders said yes to the deal. They said no to the cheque. At a virtual special meeting on Thursday that lasted barely ten minutes, Warner Bros. Discovery investors voted overwhelmingly to approve Paramount Skydance’s $111 billion acquisition of the company — and then turned around and voted against the lavish exit pay packages lined up for chief executive David Zaslav and his fellow outgoing executives.
Not that it will make much difference. The compensation vote is purely advisory and non-binding. The Warner Bros. Discovery board can, and almost certainly will, pay out as planned.
But the symbolism stings. It is the second consecutive year that WBD shareholders have voted against the executive compensation packages, and this time they had good reason. Zaslav’s exit deal is, by any measure, extraordinary. Under the terms filed with the Securities and Exchange Commission, he is set to receive $34.2 million in cash severance, $517.2 million in equity in the combined company, and $44,195 in continued health coverage — a total of at least $550 million. On top of that, Warner Bros. Discovery has agreed to reimburse Zaslav up to $335 million for taxes assessed by the Internal Revenue Service on his accelerated stock vesting, though the company says that figure will decline depending on when the deal closes. As of March 11, Zaslav also held $115.85 million in vested WBD stock awards — and last month sold a further $114 million worth of WBD shares.
Shareholder advisory firm ISS recommended voting against the compensation measure, citing “problematic” tax reimbursements to Zaslav and the full vesting of his stock awards.
Zaslav will be bound by a two-year non-competition covenant and a two-year non-solicitation of customers and employees after the deal closes.
His lieutenants are not walking away empty-handed either. J.B. Perrette, chief executive and president of global streaming and games, is in line for $142 million, comprising $18.2 million in cash severance and $123.9 million in equity. Bruce Campbell, chief revenue and strategy officer, will receive an estimated $121.5 million, including $18.8 million in severance and $102.7 million in equity. Chief financial officer Gunnar Wiedenfels is set for $120 million, made up of $6.6 million in cash severance and $113.1 million in equity. Gerhard Zeiler, president of international, will get $82.6 million, including $11.9 million in severance and $70.7 million in equity.
The deal itself, clinched in February after Netflix declined to raise its bid for Warner Bros., still needs regulatory clearance from the Justice Department and European authorities. Several state attorneys general are also weighing legal action to block it.
Senator Elizabeth Warren, Democrat of Massachusetts, was unsparing. “The Paramount-Warner Bros. merger isn’t a done deal,” she said after the shareholder vote. “State attorneys general across the country are stepping up to stop this antitrust disaster. We need to keep up this fight.”
If it does go through, the combined entity would be a formidable beast, bringing together Paramount Skydance’s stable — CBS, CBS News, Paramount Pictures, Paramount+, BET, MTV and Nickelodeon — with WBD’s portfolio of HBO, Max, Warner Bros. film and TV studios, DC, CNN, TBS, TNT, HGTV and Discovery+. Paramount has said it expects $6 billion in cost savings from the merger, which is Wall Street shorthand for mass layoffs on a significant scale.
The ten-minute meeting was presided over by chairman Samuel Di Piazza Jr., with Zaslav, Campbell, Wiedenfels and chief communications officer Robert Gibbs in virtual attendance. Di Piazza was bullish. “We appreciate the support and confidence our stockholders have placed in us to unlock the full value of our world-class entertainment portfolio,” he said. “With Paramount, we look forward to creating an exceptional combined company that will expand consumer choice and benefit the global creative talent community.”
Zaslav echoed the sentiment. “Over the past four years, our teams have transformed Warner Bros. Discovery and returned the company to industry leadership,” he said. “Today’s stockholder approval is another key milestone toward completing this historic transaction that will deliver exceptional value to our stockholders.”
Paramount Skydance struck a similar note. “Shareholder approval marks another important milestone towards completing our acquisition of Warner Bros. Discovery,” it said in a statement, adding that it looked forward to “closing the transaction in the coming months.”
The shareholders have spoken on the merger. On the pay, they were ignored before the vote was even counted.
