English Entertainment
Nat Geo Intl, Singapore EDB invite entries for documentary fund
MUMBAI: Asian stories for a global audience! National Geographic Channels International (NGCI) together with the Singapore Economic Development Board (EDB) invite Asia’s filmmakers to submit programme proposals for the fifth season of the NGCI-EDB Documentary Fund 2006.
The objective of the NGCI-EDB Documentary Fund is to seek out and groom production talent the region has to offer, as well as facilitate the production of global quality documentaries made in Asia.
NGCI is primarily looking for one-hour, one-off documentaries but will consider short series of up to three episodes. This documentary fund is open to Asia-based companies and filmmakers and proposal submissions guidelines are available on www.ngcasia.com/asiafilmmaker.
Previous seasons have received entries from countries like India and Bhutan. It has also inspired Asian films such as Body Snatchers of Thailand. This film won Best Documentary at the Asian Television Awards 2004. In that same year, Kung Fu Dragons of Wudang won World Bronze Medal at the New York Film Festivals. More recently, Hiss of Death was a finalist at the prestigious Jackson Hole Wildlife Film Festival.
This year, NGCI will commission 11 hours of programming. Filmmakers intending to participate and receive support from the NGCI-EDB Documentary Fund are required to submit programme proposal ideas that challenge, surprise as well as compel viewers to re-think the way we view the modern world. These works have to be dramatic stories with strong central characters and portrayed through innovative storytelling.
NGCI executive VP, poduction Bryan Smith, said, “We have definitely noticed a flourishing of productions dealing with Asian themes and topics since we embarked on this project four years ago. With greater proficiency in filmmaking, we see more sophisticated storytelling and well-crafted documentaries.
“We are confident that the NGCI-EDB Documentary Fund, showcased as ShowReal Asia has aided in boosting the region’s filmmaking industry and we certainly hope that its continued success will pave the way for more filmmakers in Asia to showcase their talents on a global platform in the years to come.”
Economic Development Board director, Infocomms and Media, Quek Swee Kuan says, “Over the past four seasons, we have seen Asia’s best filmmakers produce award-winning documentaries that captured the global audience. EDB is proud to be part of this partnership with NGCI that has helped cultivate and grow the creative talent base in Singapore. This initiative will continue to push the standards of documentary filmmaking here, and bring us closer to our strategic intent of developing Singapore into a media hub.”
Submissions have to reach NGCI by 4 September. Following the announcement of the shortlisted candidates on 20 September, a producer’s master workshop will be organised from 4 to 6 October. NGCI and EDB will announce the winning commissioned projects on 6 October.
Selected grantees can showcase their works through National Geographic Channel’s global reach of up to 290 million viewers in 164 countries as well as of a long-term creative opportunity with the Channel.
As with previous years, this year’s selected talents from ShowReal Asia will be mentored by National Geographic Channel’s producers.
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.
