English Entertainment
George Alagiah joins BBC World to present ‘NewsHour’
MUMBAI: George Alagiah, one of the BBC’s well-known news presenters, will join BBC World to present a brand-new programme NewsHour. Beginning in June, the programme will broadcast each weekday during peak times in the key markets around the world, including the US breakfast peak and Asia evening peak.
Alagiah will present NewsHour at 12 PM (GMT) from Monday to Thursday. He currently co-presents the BBC’s Six O’Clock News in the UK, and will continue in that role in addition to presenting NewsHour, informs an official release.
BBC Global News Division director Richard Sambrook says, “We are extremely pleased to have a journalist of George’s calibre on board to present our new programme. George has achieved tremendous success in the UK for his objective coverage, in-depth international knowledge, and his sharp interviewing skills. His experience and his ability to uncover the news behind each story will be crucial for the success of NewsHour, which was created to ensure that BBC World delivers continuous and authoritative news programming to its audiences in the US during peak morning hours, and in East Asia in the evening.”
“As a foreign correspondent for a decade, I saw first-hand how people around the world turned to the BBC for its sheer breadth of coverage and the authority with which it came. Now, more than ever, American audiences are interested how global events can have an impact on their lives and Newshour will bring them the day’s international news stories from an impartial and global perspective.”
Alagiah joined the BBC in 1989 and worked as a foreign correspondent specialising in Africa and the developing world. In March 2002, he launched BBC Four’s international news programme and began presenting BBC’s Six O’clock News in January 2003.
He has reported on many issues and events including the famine in Somalia, the genocide in Rwanda, the civil war in Liberia, Saddam Hussein’s campaign against the Iraqi Kurds and the aftermath of the terror attacks on New York.
Alagiah has won several awards for his reporting and has interviewed many prominent international figures including Nelson Mandela, Yasser Arafat and Tariq Aziz of Iraq.
The introduction of NewsHour is part of the channel’s plan to establish regular NewsHour programmes throughout the day, to ensure BBC World delivers tailored news programming at the breakfast and evening peak-times across key time zones.
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.
