English Entertainment
Disney/ABC transitions to IP-based virtual master control for linear TV
MUMBAI: After having successfully deployed its cloud-based Watch services across the Disney/ABC Television Group of networks, the company is now transitioning its linear broadcast operations – global programming playout, delivery and network operations – to a unified IP cloud architecture using Imagine Communications.
Imagine Communications is video infrastructure, advertising systems and workflow management solutions company serving media networks, broadcast stations, digital media, communication service provider and enterprise markets. This marks a significant evolution in Disney/ABC Television Group’s broadcast operations, and establishes a foundation for how broadcast programming could be made, moved, managed, and monetized in the coming years.
“By leveraging evolving IP and Cloud technologies we are able to move beyond what’s currently possible with traditional proprietary “Big Iron” broadcast infrastructures. Imagine Communications’ IP solutions enable us to automate and deliver workflow processes and technologies to a more agile and scalable environment. Our shared vision and close collaboration will enable Disney/ABC Television Group to take a uniquely innovative approach to the next generation of television and media distribution platforms,” said Disney/ABC Television Group executive vice president, global operations and chief technology officer Vince Roberts.
“We are thrilled to extend our relationship with the Disney/ABC Television Group on this groundbreaking project that represents the future of broadcast television. Their transition to cloud-based playout provides a platform to accelerate the expansion of their acclaimed programming and gain freedom from dependencies on geographic content origination and physical playout facilities. We are focused on supporting Vince and his team’s cutting-edge vision with the advanced technologies and on-the-ground professional service experts to support a seamless transition to cloud playout across multiple deployment phases,” added Imagine Communications CEO Charlie Vogt.
Disney/ABC Television Group is deploying VersioCloud, Imagine Communications’ advanced, fully IP-enabled, integrated playout in the cloud platform. Designed for a network origination ecosystem, this geo-dispersed platform aggregates national operations into a cohesive, resilient and unified entertainment delivery solution. VersioCloud advances the evolution of longstanding broadcast operations, including master control functionality. Software-based systems enable the integration of formerly discrete, hardware-based functions, expanding the productivity of master control room operations while optimizing workflow.
The VersioCloud solution is powered by Zenium, Imagine Communications’ software-defined workflow management platform. Zenium’s modular and flexible architecture provides the capability to plug-in content augmentation functions for affiliate branding platforms including triggers, live caption data, loudness control and externally generated crawls and tickers. A hierarchical programming model with an intuitive user interface enables associations to be made between programming blocks that move, track and trigger together, providing operational flexibility and simplification in executing complex and multi-region events. Imagine Communications’ professional service teams will support the transition and training, helping to ensure a seamless transfer for each production facility.
With its industry defining Watch ABC, Watch ABC Family, Watch Disney Channel, Watch Disney XD and Watch Disney Junior services, Disney/ABC Television Group became the first entertainment networks to provide authenticated users access to both live, 24/7 linear network streams as well as an extensive offering of advantaged window on demand episodes on desktops, connected TVs, smartphones and tablets. In the process, the company developed a proprietary cloud-based software solution that considers and automates complex business rules specific to the delivery of live and on-demand television feeds.
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.
