Hollywood
Activities galore at India Pavilion of the Cannes Film Festival
NEW DELHI: The India Pavilion at the 67th Cannes Film Festival saw an unprecedented presence this year.
Organised by the Information and Broadcasting Ministry in association with the Federation of Indian Chambers of Commerce and Industry (FICCI), the packed pavilion was inaugurated on 15 May by Indian Ambassador to France Arun K. Singh, I&B secretary Bimal Julka and Indian cinema legend Kamal Haasan.
Others present were veteran filmmaker and producer Ramesh Sippy; renowned filmmaker Sudhir Mishra; YRF Entertainment CEO, actor and producer Uday Chopra; screenwriter Arash Amel; Cannes Film Market executive director Jerome Paillard,; FICCI secretary general A. Didar Singh and filmmaker and producer Bobby Bedi.
The Indian presence at the India Pavilion also included film industry stalwarts such as Film Federation of India president Ravi Kottarakara, T.P. Aggarwal who is the first Indian vice president of FIAPF – the International Federation of Film Producers Associations, and Film and TV Producers Guild of India CEO Kulmeet Makkar.
The pavilion saw a lot of interesting activity with hoards of people jostling for space as they watched the interactive sessions. The first day saw a session on ‘The Making of Grace of Monaco’ – featuring Uday Chopra and Jonathan Reiman from YRF Entertainment – one of the producers of the opening film at the festival – and Arash Amel, the writer of the film. Anchored by Patrick Frater, Asia Bureau Chief of Variety, the discussion hinted at interesting growth and expansion for Indian cinema in the international space by means of collaboration and co-production.
A very special session, ‘The Journey to Cannes’, was organised at the pavilion for ‘Titli’, India’s official entry in the Un Certain Regard section of the festival. (The festival’s Critics Week section had also selected another Indian film, Gitanjali Rao’s ‘TrueLoveStory’.)
The cast and crew of ‘Titli’ – director Kanu Behl; actors Ranvir Shorey and Shashank Arora; writer Sharat Katariya; editor Namrata Rao; Yash Raj Films VP international operations Avtar Panesar; Sikhya Entertainment founder Guneet Monga and CEO Anurag Kashyap Films were felicitated by the Ministry of I&B, and also spoke about their experience of making the film and being selected to be screened at the Cannes Film Festival.
A feature of the activities at this year’s India Pavilion at the Cannes Film Market was exclusive networking receptions co-hosted by the Ministry and film bodies, producers and filmmakers from three countries: New Zealand, Australia and Germany.
The New Zealand event was organised in coordination with the New Zealand Film Commission; the delegation was led by NZFC CEO Dave Gibson, and comprised filmmakers and producers from the country; Screen Australia CEO Graeme Mason led the Australia contingent; and German Films organised the third event.
The Indian guest list saw representation from filmmakers, producers and industry body members at Cannes this year. This new initiative is aimed at promoting and forging ties for co-production and partnerships between India and these countries.
On the sidelines of these events were structured B2B meetings between Indian delegates and international stakeholders in order to facilitate business promotion and explore opportunities for partnership between the Indian film community and the global one.
Sessions were also held on co-production with representatives from India and six other countries, and a discussion on Single Window Clearance for promoting hassle-free film shooting for the global film community in India.
Kamal Haasan was interviewed by critic and anchor Anupama Chopra; filmmakers Ramesh Sippy, Sudhir Mishra and Bobby Bedi were seen in conversation about Indian cinema today and going forward, and Indian films at Cannes over the years.
Hollywood
Paramount Skydance secures financing for Warner Bros Discovery deal
Debt syndication and new loans push $111 billion merger closer to close
WASHINGTON: Paramount Skydance has taken a major step towards its planned acquisition of Warner Bros Discovery, securing fresh financing and completing the syndication of its bridge loan facility.
In a filing with the Securities and Exchange Commission, the company confirmed that the bridge facility has now been distributed among a group of 18 banks, reducing total commitments to $49 billion from an earlier $54 billion. The move spreads risk across lenders and signals growing confidence in one of the year’s largest media deals.
Alongside this, the company has finalised permanent financing arrangements, including $5 billion in senior term loans and a $5 billion revolving credit facility. A previously planned $3.5 billion credit line has been dropped as part of the restructuring.
The loans are secured against key assets, including Paramount Global, Skydance Media and Warner Bros post-merger, underlining the scale and complexity of the transaction.
The financing push follows a competitive bidding process earlier this year, which saw interest from players such as Netflix before Paramount Skydance emerged as the frontrunner. The deal, valued at $111 billion, is expected to close in the third quarter, subject to regulatory approvals.
Adding to the momentum, the company has also secured significant equity backing, including investments from Middle Eastern funds, with support from billionaire Larry Ellison, who has guaranteed the equity portion of the transaction.
Commenting on the development, Paramount Skydance chief strategy officer Andy Gordon said, “Our successful debt syndication and new debt facilities represent another important milestone towards the completion of our acquisition of Warner Bros Discovery.”
Once completed, the combined entity is expected to carry net debt of just under $80 billion, reflecting the sheer scale of the merger.
As Hollywood continues to consolidate in the streaming era, this deal could reshape the competitive landscape, with Paramount Skydance betting big on scale, content and financial muscle to take on global rivals.
