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 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.
