Hollywood
Director from the Philippines bags top prize at Locarno, dedicates it to father
NEW DELHI: Filipino director Lav Diaz’s five-and-a-half-hour epic ‘From What is Before Mula’ received the top prize at the 67th Locarno Film Festival.
The 338-minute black-and-white film, about life in a rural village two years before the government declared martial law in 1972, won the Golden Leopard for best film. The award comes with a cash prize of $ 99,700 which will be shared equally between Diaz and his producer.
The film, which has the Filipino title ‘Mula sa kung ano ang noon’, also picked up the FIPRESCI International Critics Prize, the Environment is Quality of Life Prize, and the International Federation of Film Societies’ (IFFS) Don Quixote Prize.
The film also won the top prize at the World Premiere Film Festival in Manila last month.
Alex Ross Perry’s ‘Listen Up Philip’ won the Special Jury Prize, Portugal’s Pedro Costa won the Best Director Leopard for ‘Cavalo Dinheiro ‘and Brazil’s ‘August Winds’ received a special mention.
The international competition jury was headed by Italy’s Gianfranco Rosi and also included Chinese director Diao Yi’nan, filmmaker Thomas Arslan, as well as actresses Alice Braga and Connie Nielson. Diaz was the president of last year’s international competition jury in Locarno.
The two other Asian winners in this year’s festival were both in the Best First Feature section. ‘Songs from the North’, a documentary by the South Korean filmmaker Yoo Soon-mi won the Leopard for the Best First Feature. France-based Japanese filmmaker Sawada Masa also received a special mention for ‘I, Kamikaze’.
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.
