English Entertainment
‘One World: Together at Home’ global special to air on Sony PIX, AXN, SonyLIV on 19 April
MUMBAI:‘One World: Together at Home’ — a globally televised and streamed special in support of the fight against the COVID-19 pandemic – will air on Sony PIX and AXN on 19 April At 8 pm and will be live streamed on SonyLIV at 5.30 am with a repeat at 8 pm.
Launched by international advocacy organization Global Citizen, and the World Health Organisation, ‘One World: Together at Home’ will show unity among all people who are affected by COVID-19 and will also celebrate and support brave healthcare workers doing life-saving work on the front lines.
Curated in collaboration with Lady Gaga, the ‘One World: Together At Home’ broadcast special will include performances and appearances by Alicia Keys, Amy Poehler, Andrea Bocelli, Awkwafina, Billie Eilish, Billie Joe Armstrong of Green Day, Burna Boy, Camila Cabello, Celine Dion, Chris Martin, David & Victoria Beckham, Eddie Vedder, Ellen DeGeneres, Elton John, FINNEAS, Idris and Sabrina Elba, J Balvin, Jennifer Lopez, John Legend, Kacey Musgraves, Keith Urban, Kerry Washington, Lang Lang, Lizzo, LL COOL J, Lupita Nyong’o, Maluma, Matthew McConaughey, Oprah Winfrey, Paul McCartney, Pharrell Williams, Priyanka Chopra Jonas, Sam Smith, Shah Rukh Khan, Shawn Mendes, Stevie Wonder, Taylor Swift, and Usher.
‘One World: Together at Home’ is not a telethon – it is a historic, first-of-its kind global broadcast event to celebrate the heroic efforts of community health workers, and to support the World Health Organization in the global fight to end COVID-19. The broadcast will feature stories from frontline healthcare workers on the COVID response, commitments from philanthropists, governments and corporations to support and equip frontline healthcare workers around the world, with masks, gowns and other vital equipment, and to local charities that provide food, shelter, and healthcare to those that need it most.
According to both, Danish Khan – business head, Sony Entertainment Television, Studio Next and digital business and Tushar Shah – business head, English cluster, Sony Pictures Networks India, “The concert is reflective of our solidarity during this situation and an effort to applaud the bravery of the frontline workers. We are happy to collaborate with Global Citizen and convey this powerful message of One World to our viewers.”
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.
