English Entertainment
Disney to launch English GEC HD on 29 Oct
MUMBAI: English GEC Disney International HD will be launched on 29 October. “It will have exclusive content which has not been shown on any traditional or digital platform before — it’s cent per cent original content,” said Disney India vice-president – media networks and interactive Abhishek Maheshwari.
The new channel — catering to the entertainment needs of 14-25-year-olds — will be supported by a library of 1500-plus episodes of live action series and 100-plus Disney movies. The channel, with 6-8 pm prime-time band, will not have any animated shows.
With increase in the number of players in the English entertainment genre, the competition is also intense. Recently, Zee launched &Prive, targeting the non-conformists.
Disney India will now have eight channels in its portfolio, including the latest addition Disney International HD (from 29 October).
Maheshwari pointed out: “Typically, we have seen that kids grow out of animation after 14 years, and we would offer a kind of content that would resonate with them and stay there for a long time.”
The channel’s promotional and marketing campaign will start in full swing after Diwali in six metros and tier 1 cities. “A lot of tractional will come from these two geographies,” Maheshwari added.
About distribution, he said: “Our premier content will be available on all DTH platforms and we are closely following up with the cable networks as well. The increase in HD consumption and HD households, both are the reasons behind the HD strategy,” he added.
The content mix of the new channel spans a wide variety of new series and movies, ranging from the latest hits like ‘Liv and Maddie’, ‘KC Undercover’ and ‘Girl Meets World’, to blockbuster original movies such as ‘Descendants’ and ‘Teen Beach Movie, and popular hits like ‘Hannah Montana’ and ‘Wizards of Waverley Palace’ and ‘High School Musical’.
The content will also highlight Disney’s original music from these series and movies through music videos and sing-along versions.
It remains to be seen how convincing the new content in a superior HD format is to the grown-up teens and young adults.
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.
