Hollywood
Discovery Communications bags two Apollo Award
NEW DELHI: Three entries from India including two from Discovery Communications India featured in the award-winners list of the 2014 Apollo Awards organised by Asia Image.
Discovery Communications India bagged two awards for the same programme – ‘Himalayan Tsunami’ produced by Beach House Pictures. It received the awards for Colour Grading by Karen Ng and Sound Design category- Long Form by Jerry Teo.
The third Indian award went to Merzin Tavaria and Alex Pejic for Visual Effects/ CGI – Long Form for two films ‘White House Down’ by Prime Focus.
The awards were given away last night at the Marina Bay Sands in Singapore, alongside BroadcastAsia at the 19th International Digital Multimedia & Entertainment Technology Exhibition & Conference.
Out of 165 submissions received, 42 entries made the final cut after being judged by a panel of judges that combines extensive technical knowledge, critically acclaimed creativity, and years of experience in the media and entertainment industry. The results are tabulated and audited by international auditing firm PriceWaterhouseCoopers.
Seven Indian entries had been shortlisted. While ‘Kai Po Che!’ had been shortlisted for Colour Grading for Merzin Tavaria and Paresh Acharya of Prime Focus, Discovery Communications India made it to the list for Cinematography – Long Form for Sanjay Agarwal filming ‘Everest: India Army Women’s Expedition’ produced by Robin Roy Films. The other Indian entries were: Sandeep Shelar & Ashok in Art Direction for ‘Ixigo’ by Studio Eeksaurus Productions Pvt. Ltd; and Merzin Tavaria for Visual Effects/ CGI – Long Form for ‘The Great Gatsby’ by Prime Focus.
“We will continue to evolve and remain relevant to provide industry players with a driving force that truly celebrates excellent performance. All our winners have made major contributions towards their respective fields, and we are proud to honour their achievements,” said Apollo Awards organiser Raymond Wong.
“Also, we thank our sponsors and partners for your generosity and contributions. The Awards wouldn’t have been so momentous without your kind support, endorsement and presence,” added Wong.
The ceremony brought together around 150 industry professionals, who celebrated the joyous occasion with all the award winners. First launched in 2005, the Asia Image Apollo Awards is an initiative aimed at honouring the best in production and post-production across Asia Pacific, with a strong focus on the creative and technical mastery behind the scenes.
Hollywood
Warner Bros board reopens talks after Paramount raises bid to $31 a share
Netflix has four days to revise $27.75-a-share proposal
NEW YORK: The board of Warner Bros Discovery has reopened talks with Paramount Skydance after the rival bidder raised its cash offer to $31 a share, intensifying a takeover contest for one of Hollywood’s most prized studios, Reuters reported.
Paramount’s revised proposal has pulled Warner Bros’ directors back to the negotiating table, even as Netflix risks losing its status as the preferred suitor. The board said it had not yet concluded whether Paramount’s offer was superior to the Netflix deal, but confirmed it would engage further with both sides. Should a higher bid emerge, Netflix has four business days to respond.
In a bid to strengthen its hand, Paramount increased the termination fee payable if regulators block the deal to $7 billion, up from $5.8 billion. It also agreed to pay Warner shareholders 25 cents a share per quarter for every quarter beyond 30 September that the transaction fails to close. Paramount further offered to inject additional equity should lenders raise concerns about financing at completion.
Paramount’s $31-a-share bid is an all-cash offer for the entire company. Netflix, by contrast, has proposed $27.75 a share in cash, valuing the deal at $82.7 billion including net debt, for Warner’s film and television studios, content library and the HBO Max streaming platform.
The comparison is muddied by structure. Warner plans to spin off its television networks into a separately listed company, Discovery Global. The ultimate value of Netflix’s offer therefore depends on the spun-off unit’s debt load and market valuation. The board estimates Discovery Global could trade between $1.33 and $6.86 a share, potentially lifting overall shareholder returns above Paramount’s earlier $30-a-share proposal.
Either outcome would reshape Hollywood’s balance of power, handing the winner a deep content vault and enduring franchises including Game of Thrones and DC Comics. Netflix has ample cash to raise its offer, while Paramount argues it faces fewer regulatory hurdles in the United States. It has also signalled readiness to mount a board challenge at Warner’s annual meeting if its proposal is rejected.
That pressure is building. One potential director nominee floated by Paramount is Pentwater Capital Management chief executive Matthew Halbower, one of Warner’s largest shareholders. Separately, activist investor Ancora Holdingshas accused the board of insufficient engagement with Paramount.
Warner is due to report quarterly results this week, which may shed more light on the value of its cable television assets. Paramount reports earnings on Wednesday. A shareholder vote on the Netflix deal is scheduled for 20 March.
