Hollywood
Chloe Zhao and ‘Minari’ star Yuh-Jung Youn make history at Oscars 2021
New Delhi: Beijing-born Chloe Zhao made history at the 93rd Academy Awards as the first Asian woman and only the second woman ever to win the Oscar for best director for the film Nomadland.
The Hurt Locker director Kathryn Bigelow was the first woman ever to win the coveted prize eleven years ago.
Korean actor Yuh-Jung Youn, 73, won the best supporting actress winner for immigrant tale Minari, and became the first South Korean actor to win an Oscar. British actor Daniel Kaluuya completed his awards grand slam this year with the Oscar for best supporting actor for his performance in Judas And The Black Messiah.
In an upset, 83-year-old Anthony Hopkins (The Father) walked away with the best actor trophy, which many believed to be a cinch for the late Chadwick Boseman for his performance in Ma Rainey’s Black Bottom. The win makes Hopkins the oldest performer to bag an acting Oscar ever.
The best actress award went to Nomadland star Frances McDormand, who last won an Oscar in 2018 for her stellar turn as a ferocious, heartbroken mother in Three Billboards Outside Ebbing, Missouri.
Netflix had a big night at the Oscars, bringing home a total of seven trophies, though it failed to pick up an award in the big three categories – best picture and best actor/actress. The streamer had come into Sunday night with 36 nominations, far more than any studio or OTT platform.
Producers of the annual awards gala, including director Steven Soderbergh, had said that the award ceremony this year would be more like a movie than a TV show. And, indeed it was, with limited audience capacity and celebrities not wearing masks. The ceremony was moved to Union Station in downtown Los Angeles amid the Covid2019 restrictions.
Dark comedy Another Round, from Denmark, was awarded best international feature film. India’s official entry this year – Jallikattu – failed to make the final nominations.
The first Oscar of the evening went to Emerald Fennell who won best original screenplay for Promising Young Woman; best adapted screenplay was won by The Father. The White Tiger, starring actress Priyanka Chopra, was nominated in this category.
The movie Soul, the first from Pixar to feature a black lead character, won best animated feature and also the award for best original score. Christopher Nolan’s Tenet won the award for best visual effects.
The winners are chosen in a secret ballot by the 9,000 members of the Academy of Motion Picture Arts and Sciences.
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.
