Fiction
Distraction Formats teams up with interactive partner IRM
MUMBAI: International format distributor Distraction Formats has announced its partnership with IRM (Interactive Rights Management Limited), an independent interactive rights and exploitation company.
“By joining forces with IRM, we can offer clients producing our formats a lot more value for their entertainment investment,” said Distraction Formats CEO Michel Rodrigue.
IRM will consult on a number of formats represented by Distraction Formats with an aim to adding value to local productions and maximizing the interactive potential of the product. Founded by the award-winning team responsible for the global interactive success of Who Wants To Be A Millionaire, IRM leverages the deployment of paid-for interactive consumer services across a number of interactive platforms, from mobile and fixed line telephony to Internet and interactive TV.
“The rapid rate of technological evolution continues to drive each of these platforms, enhancing its capabilities, accessibility and penetration level. As a result, the possibilities are virtually limitless,” said IRM director Valérie Bozzetto – Schenowitz.
Amongst early projects being worked on by the new team is Dirty Rotten Cheater, the game show in which six players answer survey-style questions. One of the players has secretly been fed all the answers, and the other five try to unmask the “cheater”. The format features suspense, comedy – and a number of interactive opportunities. The interactive strategy for the format, which aired in India on Star One as Bluff Master, will manage the exploitation of the brand on all platforms.
Fiction
Paramount taps Pentwater Capital’s Halbower in push to reshape Warner Bros board
Skydance-backed bid eyes board shake-up to derail Netflix deal and win shareholder support
CALIFORNIA: The battle for control of Warner Bros. Discovery has moved beyond takeover talks and into the boardroom, as Paramount Global and Skydance Media reportedly prepare for a proxy fight. At the center of the push is Pentwater Capital founder Matthew Halbower, whose potential nomination to the board could reshape the outcome of the high-stakes standoff.
Paramount is seeking to block Warner Bros. Discovery’s proposed tie-up with Netflix, arguing that its own $108.4 billion all-cash offer represents a stronger alternative for shareholders. By backing a new slate of directors, the Skydance-backed bidder aims to install leadership more receptive to its proposal — and willing to abandon the Netflix agreement.
As the seventh-largest investor in Warner Bros. Discovery, Halbower wields considerable influence. The Pentwater Capital chief has already voiced sharp criticism of the board, accusing it earlier this year of a “breach of fiduciary duty” for rejecting Paramount’s offer without what he described as adequate engagement.
According to Reuters, Halbower has held discussions with Paramount about a potential board role, though no final decision has been confirmed. He reportedly characterized his candidacy as a last resort, suggesting that if the current board meaningfully negotiates with Paramount, his presence would not be required.
In a bid to strengthen its appeal to shareholders, Paramount Global has enhanced its takeover proposal with added financial safeguards. The revised offer includes a delay-protection clause that would grant shareholders an additional $650 million in cash for every quarter the transaction remains incomplete beyond this year. Paramount has also pledged to absorb the $2.8 billion breakup fee that Warner Bros. Discovery would owe Netflix if it terminates its existing agreement, removing a significant financial obstacle to the deal.
Paramount is not alone in challenging the status quo. Hedge fund Ancora Holdings has also accumulated a stake in Warner Bros. Discovery and publicly opposed the Netflix deal.
With reports suggesting Paramount could nominate enough directors to overturn a majority of the company’s 14-member board, Warner Bros. Discovery’s leadership now faces mounting pressure from influential shareholders. The outcome of this proxy battle will determine whether the media giant proceeds with its streaming partnership or pivots toward a massive cash acquisition.
