Hollywood
European Film Academy to honour Pedro Almod var with lifetime achievement
NEW DELHI: Spanish filmmaker Pedro Almodóvar is to receive the European Film Academy’s European achievement in world cinema for his outstanding body of work.
Pedro Almodóvar will be an honorary guest at the 26th European Film Awards Ceremony on 7 December 2013 in Berlin, streamed live on ww.europeanfilmawards.eu.
“I am very thankful for this award. From its creation, the European Film Academy has been very generous with me and my closest collaborators,” stated Pedro Almodóvar upon receiving the news, “I share with them the joy of this award”.
With a background in independent theatre, Super-8-film making and underground magazines, Pedro Almodóvar’s early films were the heirs and witnesses of the brand new Spanish democracy. After a year and a half of eventful shooting on 16mm, in 1980 he opened Pepi, Luci, Bom, a no-budget film made as a co-operative effort with the rest of the crew and the cast, all beginners, except for Carmen Maura.
In 1986, he founded the production company El Deseo S.A. with his brother Agustin. Their first project was Law of Desire. Since then, they have produced all the films that Pedro has written and directed, and have also produced other young directors.
In 1988, Women on the verge of a nervous breakdown brought him international recognition and the Best Young Film award at the first European Film Awards. Since then, his films have opened all around the world to great acclaim. Pedro Almodóvar has won virtually every award there is and his films have played an important role in shaping the way we see not only Spain but also European cinema itself.
Hollywood
Paramount eyes $24bn Gulf support to fund Warner Bros Discovery merger: Reports
Sovereign funds line up funding as media giants chase streaming scale
NEW YORK: Paramount Skydance is in talks to secure nearly $24 billion in equity commitments from Gulf sovereign wealth funds to support its planned takeover of Warner Bros. Discovery, according to a WSJ report.
The funding push comes as Paramount Skydance advances its proposed $110 billion deal for Warner Bros. Discovery, which carries an equity valuation of $81 billion and is expected to close in the third quarter of 2026.
At the heart of the financing plan are three major Gulf investors. Saudi Arabia’s Public Investment Fund is expected to contribute roughly $10 billion, while the Qatar Investment Authority and Abu Dhabi-based L’imad Holding are likely to make up the remainder.
Crucially, the proposed investments are structured as non-voting stakes. This means the Gulf backers would not have direct control in the combined entity, a move designed to ease regulatory concerns in the United States. Paramount executives reportedly do not expect the deal to trigger scrutiny from bodies such as the Committee on Foreign Investment in the United States or the Federal Communications Commission.
If completed, the merger would bring together a formidable portfolio of entertainment and news assets, including CNN and CBS. The combined entity aims to better compete in a fast-evolving media landscape where streaming platforms are steadily pulling audiences away from traditional television.
The deal reflects a broader shift in global media, where scale is increasingly seen as essential to survive the streaming wars. By pooling content libraries, technology and distribution, Paramount Skydance and Warner Bros. Discovery are betting on size and synergy to drive future growth.
The involvement of deep-pocketed Gulf investors also underscores the growing role of sovereign wealth in shaping global media consolidation, particularly at a time when high-value deals demand equally large financial backing.
With shareholder votes and regulatory milestones still ahead, the proposed tie-up remains one of the most closely watched media deals of the year. If it clears the final hurdles, it could redraw the competitive map of the global entertainment industry.
