Hollywood
Eight city-based artists shortlisted for the Chicago Digital Media Production Fund
NEW DELHI: Eight projects have been selected by the Chicago Digital Media Production Fund with a total of $100,000 in grants to eight digital media artists’ projects from the city in amounts ranging from $3,500 to $19,000.
Grants from the Chicago Digital Media Production Fund support independent film and video projects intended to raise awareness about current social issues. These projects are scheduled to be available for free online viewing by 15 May 2016. Now in their fourth year, the funding is done by Voqal Fund and Chicago Filmmakers.
“The Production Fund allows us to support artists who are creating work with the intention of sparking meaningful conversations around social change,” said Brenda Webb, Chicago Filmmakers’ executive director.
“The projects of the eight media artists receiving grants exhibit a range of compelling ideas. They include a narrative web series that tells unapologetically authentic stories through characters who are as diverse as they are genuine; a documentary web series that examines the historical to present day occurrences of police violence in Chicago; a four-part docu-series that explores the consequences of industrialization and urbanization on the environment and community of Wolf Lake, Illinois; an experimental documentary portrait piece highlighting real working women in Chicago and their ability to “make things move”; a video-based online instructional tool that helps sighted students gain a more nuanced understanding of people with visual impairments; a docu-series that asks key questions revolving around civil liberties in the United States; the second season of a previously funded cartoon web series that cleverly tackles issues like racism, gender, religion, feminism, and LGBTQ equality via humanoid food characters; and a narrative short that uses a non-linear style to tell the story of a young teen who will do anything to get his hands on the latest must-have pair of basketball shoes, despite dangerous, or even fatal, consequences.”
The Chicago Digital Media Production Fund is a project of Voqal Fund and is administered by Chicago Filmmakers. The Production Fund is intended to support digital media works that encourage social change and requires that all works funded are available for free online viewing upon completion in order to reach the widest possible audience. The fund supports artists with varying levels of experience, both to recognize accomplished individuals, as well as to provide opportunities for young and emerging artists.
Hollywood
Paramount seeks FCC nod for foreign-backed $110 billion WBD deal
Gulf funds back merger as foreign stake nears 50 per cent, control stays with Ellison
NEW YORK: Paramount Global has approached the Federal Communications Commission seeking approval for foreign investments tied to its proposed $110 billion acquisition of Warner Bros. Discovery, marking another key step in one of the biggest media deals in recent years.
According to regulatory filings made public this week, the investment backing the deal includes major Gulf sovereign funds such as the Public Investment Fund, the Qatar Investment Authority and L’imad Holding Company. Together, foreign investors are expected to hold just under 50 per cent of Paramount’s equity once the transaction is complete.
Despite the sizeable international backing, Paramount has made it clear that voting control will remain with the family of chief executive David Ellison, ensuring the company stays firmly under US control as required by broadcasting rules.
A company spokesperson described the FCC filing as routine for transactions involving foreign capital and stressed that it does not impact the closing of the deal. Under US law, any significant foreign ownership in broadcast licence holders must undergo regulatory review.
The merger itself has already cleared a major hurdle, with Warner Bros. Discovery shareholders approving the deal on 23 April. The transaction values the company at $31 per share, a 147 per cent premium to its earlier trading price, reflecting strong strategic intent behind the tie-up.
If completed, the combined entity will bring together a vast portfolio including Warner Bros. film studios, HBO Max, and networks such as CNN, TNT and Discovery Channel. The deal is currently expected to close in the third quarter of 2026.
However, scrutiny is intensifying. The US Department of Justice has issued subpoenas seeking details on the merger’s potential impact on cinema competition, streaming services and content licensing. Reviews are also anticipated in international markets, including the United Kingdom.
There is also a financial safety net built into the agreement. If regulators ultimately block the deal, Paramount would face a $7 billion break-up fee. Additionally, the company has taken on $2.8 billion in obligations previously owed by Warner Bros. Discovery to Netflix following an earlier terminated arrangement.
Paramount maintains that easing foreign ownership barriers will unlock fresh capital and strengthen its ability to compete in a rapidly evolving media landscape. For now, the spotlight remains on regulators, whose decision will determine whether this global media consolidation moves from script to screen.
