English Entertainment
Comedy Central to go off air for Six days
MUMBAI: Beginning tonight, 12 am onwards, audiences of Viacom18 owned Comedy Central will not be able to view the channel, which is set to go off air for six days as a penalty given by Delhi High court for airing objectionable content.
The order comes after the Information and Broadcasting Ministry (I&B) found two of its TV programmes objectionable. The court observed that the show Stand Up Club telecast on 26 May 2012 at 20:52 hours on the channel “was not suitable for unrestricted public exhibition and children as the same depicted women as a commodity of sex and appeared to deprave, corrupt and injure the public morality and morals.”
The channels spokesperson said in a statement, “The matter is subjudice. Having said that, we are evaluating all available options to us.”
With regards to the other show named Popcorn which was telecast on 4 July 2012 at 7:57 hours, was also found to be “vulgar, obscene, offending good taste and not suitable for unrestricted public exhibition and children.”
The channel on the other hand then submitted a reply blaming the telecast as an ‘operational mishap and unintentional error’ and apologized and assured that the creative, content and programming teams had been sensitized to the programme code. The Inter Ministerial Council which was set up to look at the violations of the programme code had asked the channel to go off air for 10 days.
Comedy Central then was of the opinion that the ban was long and therefore the broadcaster blocked out the channel for only four days. Viacom18 had then placed an appeal in the court which has now been dismissed.
The court also observed that the channel by committing a second violation (Popcorn) was clearly indicative of not having paid heed to the warning given to it for the first violation, even if unintentional and took the matter of self regulation very lightly. “We may also add that the effect of punishment of prohibition of transmission for 10 days has already been diluted by the same being split into four plus six days. We therefore do not find any merit in this appeal and dismiss the same with costs of Rs 20,000 payable to the respondent within four weeks of today. Though the appellant has already given a statement as recorded in the order dated 28 May 2013 that in the event of dismissal of the appeal it would undergo the penalty imposed of prohibition for the balance period of six days, we clarify that the said penalty would come into force w.e.f. 00:01 hours of 26 November 2014,” the court observed in its concluding remarks.
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.
