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 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.
