Hollywood
Dev Patel joins Oscar as new member
MUMBAI: After adding 271 people last year, the Academy of Motion Picture Arts and Sciences sent out invitations to more than 300 people this year to be their new members, including actors Eddie Redmayne, Emma Stone and Dev Patel. The new invitees were from Oscar winners, nominees, and other notable names in the industry.
Eddie Redmayne’s role as Stephen Hawking in The Theory of Everything not only won him the best actor award, but also saved him a member’s place in the Academy. Others include Emma Stone, who was nominated for best supporting actress for her performance in Birdman; rapper Common who grabbed best original song for his Selma soundtrack; and Dev Patel, whose film Slumdog Millionaire won eight Oscars in 2009.
In the music category, the All Of Me singer, John Legend who collaborated with Common in the Selma theme song Glory has also made it to the list of invitees. Another new member in the music branch is Nine Inch Nails’ vocalist Trent Reznor who scored David Fincher’s Gone Girl.
Other actors in the new list include Elizabeth Banks, Benedict Cumberbatch, Martin Freeman, Tom Hardy, Kevin Hart, Felicity Jones, David Oyelowo, Rosamund Pike, Chris Pine, Daniel Radcliffe, Jason Segel and JK Simmons.
The new directors who join this year’s invitees are James Gunn (Guardians of the Galaxy), Justin Lin (Fast and Furious 6), Edgar Wright (The World’s End), and Joe Wright (Anna Karenina).
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.
