English Entertainment
ATN launches Cricket Plus channel in Canada
MUMBAI: Asian Television Network International Limited (ATN) Canada’s South Asian Broadcaster has launched ATN-Cricket Plus.
This is a sports channel with prime focus on cricket. ATN has entered into a strategic programming alliance with DirecTV, which has launched Cricket Plus all across the US.
Earlier the Dubai based Taj TV had reached an agreement to produce DirecTV’s Cricket Plus Channel. Taj TV operates Ten Sports in India, and has experience in running sports channels for a variety of clients through its Dubai Media City operation. That currently handles Ten Sports Middle East, Ten Sports India, Ten Sports Pakistan, ART Prime Sport, Showtime Sportsnet, Showtime Sportsnet America and Citrus TV.
ATN Cricket Plus in Canada will showcase some live and many competitions on a delayed basis. ATN Cricket Plus will compliment the existing successful Commonwealth Broadcasting Network (CBN) channel across Canada. ATN says that it has had many firsts to its credit in Canada dealing with cricket.
It was the first to bring the Live Satellite feed of the World Cup Cricket back in 1986 to Canada. Since then ATN has brought in several ICC tournaments, Championship Trophies, one day internationals, Twenty 20’s, test matches including the Ashes and many world class games featuring countries like, India, Pakistan, England and Australia. ATN is also the official Broadcast Media Sponsor of the Canadian National Cricket Team, which is scheduled to participate in the World Cup soon.
ATN Canada president and CEO Shan Chandrasekar says, “Through Cricket Plus we are extremely pleased to be associated with DirecTV one of the world leaders in entertainment, news sports, and the largest DTH platform in the world. DirecTV has redefined the sport of cricket for television entertainment. It has been a pleasure working with DirecTV executives.
DirecTV VP international programming Aaron McNally says, “We admire the pioneering role played by ATN with its dedication and track record over the past several years in actively promoting and consistently broadcasting cricket across Canada.
“We already have long-term agreements with ATN for live games from various countries and are delighted to enter into this exclusive agreement with ATN on Cricket Plus for Canada”.
Along with cricket coverage the channel will also broadcast daily highlights, sports news bulletins as well as other sports relating to the South Asian community living in the United States and Canada, such as field hockey. Cricket Plus has acquired the rights to broadcast live, all major international men’s and women’s hockey world cup and champions trophies.
It will also showcase Canadian cricket events, talk shows on cricket and cricket celebrity specials.
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.
