Hollywood
Frances McDormand honoured in Venice
MUMBAI: Oscar-winning actress Frances McDormand has been honoured with the visionary talent award at the Venice Film Festival, ahead of the premier of her new HBO mini-series, Olive Kitteridge which she called the culmination of her life’s work.
McDormand, who is married to director Joel Coen and has starred in several Coen brothers films including Fargo and Burn After Reading, was presented with the Visionary Talent Award for a career that began on Broadway in 1984.
Talking about her new project, McDormand said that she was gratified to be at a film festival with Olive Kitteridge.
In Olive Kitteridge, McDormand plays a witty, acerbic maths teacher in a New England town in a story that spans 25 years, based on a Pulitzer prize-winning collection of short stories by Elizabeth Strout, and directed by Lisa Cholodenko. It is set to air in the US in November.
The actress made her feature film debut 30 years ago in Coen’s Blood Simple. Talking about working in television she said, “Television has allowed all of us to reinvent on our own terms what we want our professional lives to be. For a female elder, action roles in films are limited, but television opens up new possibilities.”
McDormand won the Best Actress Oscar for Fargo and has also been nominated three more times for Mississippi Burning (1988), Almost Famous (2000), and North Country (2005).
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.
