Hollywood
Denzel Washington wins Lifetime Achievement Award
NEW DELHI: Well-known actor Denzel Washington received the Donostia lifetime achievement award during the opening gala of the 62 San Sebastian Film Festival, which concluded on 30 September.
Directed by Antoine Fuqua, The Equalizer, starring Washington was chosen to open the San Sebastian Festival.
Sixty-year old Washington, is an actor, film director, and film producer. He has received much critical acclaim for his work in film since the 1990s, including for his portrayals of real-life figures such as Steve Biko, Malcolm X, Rubin “Hurricane” Carter, Melvin B. Tolson, Frank Lucas, and Herman Boone. Washington is a featured actor in the films produced by Jerry Bruckheimer and was also a frequent collaborator of the late director Tony Scott.
Washington has received two Golden Globe awards, a Tony Award and two Academy Awards for Best during a career which began in 1974 and in which he has so far starred in about fifty films.
Also, Richard Linklater’s 12-year project Boyhood was chosen the best film of the past year by the members of the International Federation of Film Critics (FIPRESC).
This is the first time a film by Richard Linklater receives FIPRESCI’s Grand Prix, which has already gone to Michael Haneke, Paul Thomas Anderson, Jafar Panahi, Pedro Almodóvar, Jean-Luc Godard, Nuri Bilge Ceylan, among others, since its establishment in 1999.
Hollywood
Paramount eyes $24bn Gulf support to fund Warner Bros Discovery merger: Reports
Sovereign funds line up funding as media giants chase streaming scale
NEW YORK: Paramount Skydance is in talks to secure nearly $24 billion in equity commitments from Gulf sovereign wealth funds to support its planned takeover of Warner Bros. Discovery, according to a WSJ report.
The funding push comes as Paramount Skydance advances its proposed $110 billion deal for Warner Bros. Discovery, which carries an equity valuation of $81 billion and is expected to close in the third quarter of 2026.
At the heart of the financing plan are three major Gulf investors. Saudi Arabia’s Public Investment Fund is expected to contribute roughly $10 billion, while the Qatar Investment Authority and Abu Dhabi-based L’imad Holding are likely to make up the remainder.
Crucially, the proposed investments are structured as non-voting stakes. This means the Gulf backers would not have direct control in the combined entity, a move designed to ease regulatory concerns in the United States. Paramount executives reportedly do not expect the deal to trigger scrutiny from bodies such as the Committee on Foreign Investment in the United States or the Federal Communications Commission.
If completed, the merger would bring together a formidable portfolio of entertainment and news assets, including CNN and CBS. The combined entity aims to better compete in a fast-evolving media landscape where streaming platforms are steadily pulling audiences away from traditional television.
The deal reflects a broader shift in global media, where scale is increasingly seen as essential to survive the streaming wars. By pooling content libraries, technology and distribution, Paramount Skydance and Warner Bros. Discovery are betting on size and synergy to drive future growth.
The involvement of deep-pocketed Gulf investors also underscores the growing role of sovereign wealth in shaping global media consolidation, particularly at a time when high-value deals demand equally large financial backing.
With shareholder votes and regulatory milestones still ahead, the proposed tie-up remains one of the most closely watched media deals of the year. If it clears the final hurdles, it could redraw the competitive map of the global entertainment industry.
