English Entertainment
Disney-ABC to offer hit shows online in May and June
MUMBAI: With an aim to expand its network and channel brands across multiple platforms and connecting viewers with their favorite shows anytime and anywhere, Disney-ABC Television Group will be offering ad-supported, full-length episodes of four ABC primetime series online at www.abc.go.com.
However, this offer will be a part of a two-month-long experiment. Current episodes of Lost, Desperate Housewives and Commander In Chief, as well as the entire present season of Alias, will be available for streaming during May and June, marking the first time a broadcast network has made multiple series available for viewing online, free of charge to consumers.
“The evolution of ABC.com is just one piece of our comprehensive, digital media multiplatform business initiative,” said Anne Sweeney, co-chair, Disney Media Networks and president, Disney-ABC Television Group. “This announcement highlights the momentum we’ve achieved both in launching new broadband services and working with strategic partners in the digital media space, to ensure that our high-quality, informative and entertaining content is available to consumers whenever and wherever they choose.”
ABC is also exploring ways to work with its local broadcast affiliates on these online offerings as they continue to evolve. “Our ultimate goal is to find an effective online model, one in which our affiliates can take part,” stated Alex Wallau,president, Operations and Administration, ABC Television Network. “To that end, we’ll be sharing information from this two-month test in our discussions going forward, and working on ways for them to participate in this new method of delivering ABC programming.”
“Our mission with this trial is to gather key learning about the technology and the consumers who utilize it in order for ABC.com to become the leading broadband digital entertainment experience, packed with innovative, immersive content for our viewers,” said Albert Cheng, executive vice president, Digital Media, Disney-ABC Television Group. “In the months ahead, ABC.com will not only deliver a high quality, on-demand viewing experience to users, but will also gain valuable knowledge and research to help us better understand and serve our consumers in the rapidly evolving digital world.”
As part of the trial, ABC has offered ten advertisers the opportunity to test possible in-stream broadband advertising models as well as the ability to take advantage of sponsorships. The unique interactive video ads will take many different forms and will be seen within each episode. Participating advertisers include AT&T, Cingular, Ford, Procter & Gamble, Toyota, Unilever’s Suave, Universal Pictures and Walt Disney Pictures, among others.
“We have said all along that we are dedicated to finding ways to bring our advertiser partners along with us as we embrace new ways of doing business in the world of digital media,” said Mike Shaw, president, Sales and Marketing, ABC Television Network. “This unique project has allowed us to offer our advertisers the ability to deliver increased effectiveness in their messaging through targeted and engaging interactive ads that offer compelling consumer experiences.”
Combining an all-new sleek, modern design with user-friendly functionality, ABC.com will offer episodes the day after they premiere on the linear channel. Consumers will be able to pause and move back and forth between “chapters” within each episode, but will not have the ability to fast-forward through advertisements. Episodes will be streamed in 16×9 formatting which offers a cinema-like feel to the viewing experience.
Encoded and streamed in Flash 8, which offers the best video quality and allows users on both Mac and PC platforms to watch the video episode, will be offered in two different sizes. The standard viewing size is 500×282 pixels (streamed at 400kbs), and the larger viewing size is 700×394 pixels (streamed 700 kbps).
“Lost” was created by Jeffrey Lieber and J.J. Abrams & Damon Lindelof. Abrams, Lindelof, Bryan Burk, Jack Bender and Carlton Cuse serve as executive producers. “Lost,” which is filmed entirely on location in Hawaii, is from Touchstone Television.
Marc Cherry is executive producer and creator and Tom Spezialy is executive producer of “Desperate Housewives,” which is from Touchstone Television.
“Alias” was created by J.J. Abrams, who executive-produces the series along with Ken Olin, Jeff Pinkner, Jesse Alexander and Jeffrey Bell. The series, which is filmed in Los Angeles and premiered on September 30, 2001, is from Touchstone Television.
“Commander In Chief” was created by Rod Lurie. Steven Bochco, Dee Johnson, Rod Lurie and Marc Frydman serve as executive producers. The series is produced by Touchstone Television in association with Steven Bochco Productions.
English Entertainment
Warner Bros. Discovery shareholders approve Paramount deal
Investors wave through a $111 billion megamerger but deliver a stinging, if toothless, rebuke over half-a-billion-dollar goodbye packages
NEW YORK: The shareholders said yes to the deal. They said no to the cheque. At a virtual special meeting on Thursday that lasted barely ten minutes, Warner Bros. Discovery investors voted overwhelmingly to approve Paramount Skydance’s $111 billion acquisition of the company — and then turned around and voted against the lavish exit pay packages lined up for chief executive David Zaslav and his fellow outgoing executives.
Not that it will make much difference. The compensation vote is purely advisory and non-binding. The Warner Bros. Discovery board can, and almost certainly will, pay out as planned.
But the symbolism stings. It is the second consecutive year that WBD shareholders have voted against the executive compensation packages, and this time they had good reason. Zaslav’s exit deal is, by any measure, extraordinary. Under the terms filed with the Securities and Exchange Commission, he is set to receive $34.2 million in cash severance, $517.2 million in equity in the combined company, and $44,195 in continued health coverage — a total of at least $550 million. On top of that, Warner Bros. Discovery has agreed to reimburse Zaslav up to $335 million for taxes assessed by the Internal Revenue Service on his accelerated stock vesting, though the company says that figure will decline depending on when the deal closes. As of March 11, Zaslav also held $115.85 million in vested WBD stock awards — and last month sold a further $114 million worth of WBD shares.
Shareholder advisory firm ISS recommended voting against the compensation measure, citing “problematic” tax reimbursements to Zaslav and the full vesting of his stock awards.
Zaslav will be bound by a two-year non-competition covenant and a two-year non-solicitation of customers and employees after the deal closes.
His lieutenants are not walking away empty-handed either. J.B. Perrette, chief executive and president of global streaming and games, is in line for $142 million, comprising $18.2 million in cash severance and $123.9 million in equity. Bruce Campbell, chief revenue and strategy officer, will receive an estimated $121.5 million, including $18.8 million in severance and $102.7 million in equity. Chief financial officer Gunnar Wiedenfels is set for $120 million, made up of $6.6 million in cash severance and $113.1 million in equity. Gerhard Zeiler, president of international, will get $82.6 million, including $11.9 million in severance and $70.7 million in equity.
The deal itself, clinched in February after Netflix declined to raise its bid for Warner Bros., still needs regulatory clearance from the Justice Department and European authorities. Several state attorneys general are also weighing legal action to block it.
Senator Elizabeth Warren, Democrat of Massachusetts, was unsparing. “The Paramount-Warner Bros. merger isn’t a done deal,” she said after the shareholder vote. “State attorneys general across the country are stepping up to stop this antitrust disaster. We need to keep up this fight.”
If it does go through, the combined entity would be a formidable beast, bringing together Paramount Skydance’s stable — CBS, CBS News, Paramount Pictures, Paramount+, BET, MTV and Nickelodeon — with WBD’s portfolio of HBO, Max, Warner Bros. film and TV studios, DC, CNN, TBS, TNT, HGTV and Discovery+. Paramount has said it expects $6 billion in cost savings from the merger, which is Wall Street shorthand for mass layoffs on a significant scale.
The ten-minute meeting was presided over by chairman Samuel Di Piazza Jr., with Zaslav, Campbell, Wiedenfels and chief communications officer Robert Gibbs in virtual attendance. Di Piazza was bullish. “We appreciate the support and confidence our stockholders have placed in us to unlock the full value of our world-class entertainment portfolio,” he said. “With Paramount, we look forward to creating an exceptional combined company that will expand consumer choice and benefit the global creative talent community.”
Zaslav echoed the sentiment. “Over the past four years, our teams have transformed Warner Bros. Discovery and returned the company to industry leadership,” he said. “Today’s stockholder approval is another key milestone toward completing this historic transaction that will deliver exceptional value to our stockholders.”
Paramount Skydance struck a similar note. “Shareholder approval marks another important milestone towards completing our acquisition of Warner Bros. Discovery,” it said in a statement, adding that it looked forward to “closing the transaction in the coming months.”
The shareholders have spoken on the merger. On the pay, they were ignored before the vote was even counted.
