Hollywood
Leonardo DiCaprio and Dennis Lehane to team up once again on ‘Travis McGee’
MUMBAI: Leonardo Dicaprio is re-teaming with 'Shutter Island' writer Dennis Lehane. The Hollywood writer will write the screenplay for DiCaprio's crime picture 'Travis McGee', based on John D. MacDonald's 1964 book 'The Deep Blue Good-by' according to The Hollywood Reporter.
The mystery novel was the first of a 21 book series focusing on the character Travis McGee, a self-described ''salvage consultant''. The film – to be developed by DiCaprio's Appian Way company – is seen by backers 20th Century Fox as a potential franchise.
The screenplay will be the second book Lehane has adapted after 'Shutter Island' – which also starred DiCaprio. This will be the first film project Lehane has worked on which is not a direct adaptation of his own work.
Lehane has also enjoyed Hollywood success with his previous novels, with both 'Mystic River' and 'Gone, Baby, Gone' adapted into films.
His novel 'Live by Night' is also reportedly being prepared to hit soon on big screens.
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.
