Hollywood
Academy Award Winner Luise Rainer passes away at 104
MUMBAI: The star of cinema’s golden era and the first person ever to win back-to-back Oscars, Luise Rainer, 104, died of pneumonia on 30 December at her home in London. Born on 12 January 1910 in Dusseldorf, Germany, Rainer astonished her director with a terrific audition when she was 16, and he cast her in several of his stage productions. She was then reportedly discovered by an MGM talent scout.
Rainer will be remembered for her brilliant portrayal in films like The Emperor’s Candlesticks (1937), Big City (1937), The Toy Wife (1938), The Great Waltz (1938) and Dramatic School (1938). She had an unprecedented back-to-back Oscar wins for The Great Ziegfeld and The Good Earth.
The only other actress to win back-to-back Oscars was Audrey Hepburn for Guess Who’s Coming to Dinner and A Lion in Winter.
However, it is reported that Rainer became increasingly dissatisfied with the movie business. She had to be ordered by MGM, studio head, Louis B. Mayer to attend the Academy Awards ceremony to accept her second Oscar. She stunned reporters by claiming that she hated being molded by Hollywood. Disgruntled with the film business, she became reclusive.
In 1937, Rainer married American playwright Clifford Odets but soon, their marriage became stormy and the couple divorced after three years. She developed a friendship with Albert Einstein and broke her contract with MGM in 1938.
Her last major film was Hostages in 1943 before she left her Hollywood career behind, eventually settling in London with her second husband, publisher and England native Robert Knittel.
After her move to England, Rainer did appear occasionally on U.S. television. It took another two decades before she showed up again on TV when producer Aaron Spelling coaxed her into appearing in a 1983 episode of The Love Boat. Three years later, she performed in a Swiss telefilm titled A Dancer, and in 1997, at age 86, she had a 10-minute scene in a version of Fyodor Dostoyevsky’s The Gambler.
In 2010, on the year of her centenary, the British Film Institute held a tribute to Rainer at London’s National Film Theater, where she was interviewed by Richard Stirling.
Hollywood
Paramount eyes $24bn Gulf support to fund Warner Bros Discovery merger: Reports
Sovereign funds line up funding as media giants chase streaming scale
NEW YORK: Paramount Skydance is in talks to secure nearly $24 billion in equity commitments from Gulf sovereign wealth funds to support its planned takeover of Warner Bros. Discovery, according to a WSJ report.
The funding push comes as Paramount Skydance advances its proposed $110 billion deal for Warner Bros. Discovery, which carries an equity valuation of $81 billion and is expected to close in the third quarter of 2026.
At the heart of the financing plan are three major Gulf investors. Saudi Arabia’s Public Investment Fund is expected to contribute roughly $10 billion, while the Qatar Investment Authority and Abu Dhabi-based L’imad Holding are likely to make up the remainder.
Crucially, the proposed investments are structured as non-voting stakes. This means the Gulf backers would not have direct control in the combined entity, a move designed to ease regulatory concerns in the United States. Paramount executives reportedly do not expect the deal to trigger scrutiny from bodies such as the Committee on Foreign Investment in the United States or the Federal Communications Commission.
If completed, the merger would bring together a formidable portfolio of entertainment and news assets, including CNN and CBS. The combined entity aims to better compete in a fast-evolving media landscape where streaming platforms are steadily pulling audiences away from traditional television.
The deal reflects a broader shift in global media, where scale is increasingly seen as essential to survive the streaming wars. By pooling content libraries, technology and distribution, Paramount Skydance and Warner Bros. Discovery are betting on size and synergy to drive future growth.
The involvement of deep-pocketed Gulf investors also underscores the growing role of sovereign wealth in shaping global media consolidation, particularly at a time when high-value deals demand equally large financial backing.
With shareholder votes and regulatory milestones still ahead, the proposed tie-up remains one of the most closely watched media deals of the year. If it clears the final hurdles, it could redraw the competitive map of the global entertainment industry.
