Hollywood
Hollywood attorney Irwin Russell dies at 87
MUMBAI: Entertainment attorney Irwin Russell, who represented industry notables including Michael Eisner, Jim Henson, David Wolper and Theodor Geisel (Dr. Seuss), passed away on 23 August from complications related to Leukemia. He was 87.
“Irwin Russell was a brilliant lawyer, an insightful executive, an eloquent writer and, in all things, a true gentleman,” said Eisner, the former CEO of The Walt Disney Company, in a statement. “He represented me for 40 years, including my tenures at ABC, Paramount, Disney and, until the day he died, at Tornante.”
Eisner added: “He was able to write – and get all parties to agree to – a one-page deal, something unheard of in American business. Ethics, doing it right and being fair were embedded in his DNA. This is a deep loss for all of us.”
Born in 1926, Russell arrived in Los Angeles in 1971 after experience serving on the National Wage Stabilization Board in Washington, DC and working in private practice in New York City. He was involved in the takeover of the Walt Disney Company in 1984 and served on the Disney board.
Among the many industry deals he is credited with, Russell helped bring the Muppets to Sesame Street and Candid Camera to television. The lawyer is survived by his wife, Suzanne. A memorial is set for September.
Hollywood
WBD sets April 23 vote on $110bn Paramount Skydance merger
Investor approval key step, but regulators loom over mega media deal
NEW YORK: Warner Bros. Discovery has set April 23 as the date for shareholders to vote on its proposed $110 billion merger with Paramount Skydance, marking a crucial step in one of the biggest media deals in recent years.
The all-cash transaction offers WBD shareholders $31 per share, a hefty 147 per cent premium to its unaffected stock price, signalling strong intent to push the deal across the finish line. The company’s board has unanimously backed the merger and is urging investors to vote in favour.
Even if shareholders give the green light, the deal is far from done. Regulators in the United States and Europe are expected to scrutinise the merger closely, weighing concerns around competition and potential price impacts for consumers.
To keep investors on side, WBD has built in a safety net. If the deal is not completed by September 30, shareholders will receive a quarterly “ticking fee” of $0.25 per share until closure.
The proposed merger would significantly reshape the media landscape, combining the assets of Warner Bros. Discovery with those linked to Paramount Global and Skydance Media. It would also cement the growing influence of David Ellison, who has been steering Skydance’s aggressive expansion strategy.
“The WBD Board has been guided by the singular principle of securing a transaction that maximises the value of our iconic assets and delivers as much certainty as possible to our shareholders,” said Warner Bros. Discovery board chair Samuel A. Di Piazza Jr.. “This historic transaction will expand consumer choice and create new opportunities for creative talent.”
Warner Bros. Discovery chief executive officer David Zaslav added that the company is working closely with its counterpart to close the deal and unlock value for stakeholders.
With investor backing likely but regulatory hurdles ahead, the proposed merger is shaping up to be a defining moment for the global entertainment industry, where scale, content and competition are increasingly intertwined.
