Hollywood
Oscars likely to be postponed
MUMBAI: Will Oscars be postponed due to the Covid2019 pandemic? The Academy of Motion Picture Arts and Sciences, considered the apex body of the Hollywood film industry, may postpone the 93rd edition of Oscars, according to entertainment website Variety.
As of now, the ABC telecast is set for 28 February, 2021. But it can be delayed further in view of the Covid2019 pandemic.
Though there have not been any “definitive plans’ yet on this as of now, a change in date is likely, reports Variety, quoting multiple sources.
Another source, however, revealed to the website that the date as of now remains unchanged.
The usual rules have it that films should be released for seven days in theatres in Los Angeles county to qualify for Oscars. However, in the changed scenario where theatres remain shuttered due to the pandemic, digitally released films will also be qualified for Oscars.
It is too early to know how the 2021 Oscar telecast could change in the wake of the Covid2019 pandemic, Academy of Motion Picture Arts and Sciences president David Rubin told Variety.
“It’s impossible to know what the landscape will be. We know we want to celebrate film but we do not know exactly what form it will take. I think everyone is sympathetic to the filmmakers’ plight and we’re here to support our members and the film community. It makes sense when we don’t really know what’s to come in terms of the availability of theatrical exhibition. We need to make allowances for this year only and during this time when theatres are not open so great film work can be seen and celebrated,” Rubin said.
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Hollywood
Trump invested over $1.1m in Netflix bonds at the peak of Warner Bros bidding battle
Financial disclosures show U.S. president also bought Warner Bros Discovery debt during high-stakes media takeover race.
WASHINGTON: New government financial disclosures show that U.S. president Donald Trump purchased more than $1.1 million worth of bonds issued by Netflix over the past three months. The transactions occurred during a period when Netflix was engaged in a competitive bidding war for Warner Bros. Discovery, a potential merger that the Trump administration had publicly criticised on antitrust grounds.
Between December and January, the president acquired Netflix bonds valued between $1.1 million and $2.25 million. The bonds carry a 5.375 per cent interest rate and are scheduled to mature in November 2029. Financial disclosures also revealed an additional investment in Warner Bros Discovery bonds. The purchase was valued between $500,002 and $1 million, with the debt reportedly bought at roughly 92 cents on the dollar. The bonds are now trading at around 95 cents on the dollar, leaving the position currently in profit.
The timing of the investments has drawn scrutiny because the administration had been openly critical of Netflix’s market activities at the time. While the president’s trust was purchasing the debt, the administration reportedly pressured Netflix to remove board member Susan Rice and expressed concerns that a Netflix–Warner merger could harm competition.
The White House has dismissed conflict-of-interest concerns, stating that the president’s assets are managed independently by his children. Spokesperson Anna Kelly said U.S. presidents are legally exempt from the conflict-of-interest laws that apply to other federal officials.
Despite the financial interest, Netflix ultimately lost the race to acquire Warner Bros Discovery. Paramount Skydance secured the deal on 27 February with a $110 billion offer. The acquisition was backed by Larry Ellison, who guaranteed $40 billion to support the bid, while major lenders including Bank of America, Citigroup and Apollo Global Management provided $39 billion in financing.
The final acquisition leaves the combined Paramount entity carrying roughly $85 billion in debt, while Netflix withdrew its bid roughly two weeks before the official disclosure report was released.
