Hollywood
Coen brothers named presidents of Cannes Film Festival jury
MUMBAI: American filmmakers Joel and Ethan Coen will be presiding over the jury of the 68th Festival de Cannes.
This will be the first time in the history of the Festival de Cannes, when not one but two leading figures will chair the Jury.
“We look forward to returning to Cannes this year. We welcome as always the opportunity to watch movies there from all over the world. Cannes is a festival that has been important to us since the very beginning of our career. Presiding over the Jury is a special honour, since we have never heretofore been president of anything. We will issue further proclamations at the appropriate time,” said Joel and Ethan Coen.
The brothers are currently filming the George Clooney, Christophe Lambert, Scarlett Johansson, Tilda Swinton, Josh Brolin and Channing Tatum starrer film Hail Caesar!
2015 is the celebration of 120 years since the invention of the Lumi?re cinematograph, and the Festival de Cannes will recognise, through the Coens, the work of all “cinema brothers” who, since Louis and Auguste Lumi?re, have enriched its history. The Festival has also had the opportunity to welcome “brothers” in a great way: like Joel and Ethan Coen who won the Palme d’or in 1991, Paolo and Vittorio Taviani received it in 1976, as well as Jean-Pierre and Luc Dardenne in 1998 and in 2005.
The Festival de Cannes will take place from 13-24 May, 2015. The composition of the Official Selection and the members of the Jury will be unveiled in mid-April.
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.
