English Entertainment
NBC resurrects cult favourite TV series, Heroes
MUMBAI: An iconic series that still commands a rabid fan base, Heroes will return to the network in 2015 as an event miniseries with original creator and executive producer Tim Kring (Touch) at the helm, it was announced on 23 February by National Broadcasting Company (NBC) Entertainment President Jennifer Salke.
NBC has ordered 13 episodes for a new stand-alone story arc entitled Heroes: Reborn, with all details of storylines and characters being kept under wraps. “The enormous impact ‘Heroes’ had on the television landscape when it first launched in 2006 was eye-opening,” said NBC Entertainment President Jennifer Salke in a press statement.
“Shows with that kind of resonance don’t come around often and we thought it was time for another instalment. We’re thrilled that visionary creator Tim Kring was as excited about jumping back into this show as we were and we look forward to all the new textures and layers Tim plans to add to his original concept. Until we get closer to air in 2015, the show will be appropriately shrouded in secrecy, but we won’t rule out the possibility of some of the show’s original cast members popping back in.”
The original series chronicled the life-changing stories of a series of unrelated ordinary people who discovered they had superhuman abilities. As the saga unfolded, they learned they were part of a grand plan that brought them together to change the world.
With the return of Heroes: Reborn, NBC will launch a digital series prior to the 2015 premiere that will introduce the characters and new storylines. This leveraging of social media is being used as a way for fans to re-engage with what was one for the true pioneers in multiplatform storytelling.
The iconic science fiction series, which ran on NBC from 2006-10 and was an immediate hit, ranked as television’s #1 new drama with an average audience of 14.5 million viewers during its initial season. The show was Golden Globe-nominated in its first year of eligibility for best drama series; it won the BAFTA Award for best international series, the AFI Award, the Academy of Science Fiction, Fantasy & Horror Films Saturn Award, two People’s Choice Awards and the Television Critics Association Award for Program of the Year.
In India, Heroes aired on STAR World and FX India.
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.
