Hollywood
‘Miss South Pacific: Beauty and the Sea’ to open Mokpo Ocean Film Fest
NEW DELHI: An American made documentary by Mary Lambert, Miss South Pacific: Beauty and the Sea will open the first edition of the aquatic-themed Mokpo Ocean Film Festival in South Korea.
A total of 29 ocean-themed features and short films will be screened at the Festival to be held for four days from 31 July to 3 August in the coastal city of Mokpo. Festival organisers say it will be Asia’s first ocean-themed film festival although similar festivals take place in San Francisco, Hawaii, Vancouver and South Africa.
Festival co-director Yoo In-taek said such an event would help develop awareness of maritime affairs. “Mokpo is a working port city, not a holiday resort for the privileged. We feel proud and honoured to be hosting such an event where people make their living directly from the sea,” said In-taek, who is also a renowned film producer.
South Korea has seen a surge of film festival launches in the past few years. A mountain-themed film fest is tentatively scheduled to debut in Ulju in summer 2015.
Late last month, Revolution – a true-life adventure of filmmaker Rob Stewart – had won the top award at the 40Fathoms Film Festival which is a cinematic celebration of Earth’s Oceans.
Using the power of film and imagery, 40Fathoms Film Festival raises public awareness about issues facing the oceans today and provides people with the tools to make a difference.
The 40Fathoms Film Festival was conceived by the South African Shark Conservancy (SASC) to celebrate World Oceans Day. It showcases underwater filmmaking talent and emphasises marine conservation concerns and success stories on a regional and global scale. 40Fathoms was held at Hermanus in South Africa – a historic coastal village just 1.5 hours from Cape Town.
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.
