Hollywood
Scott Cooper replacing Ben Affleck as director of Stephen King’s ‘The Stand’
MUMBAI: Warner Bros has set Scott Cooper to re-write and direct The Stand, the seminal post-apocalyptic Stephen King novel. That means that while the studio has roped in Ben Affleck as its new Caped Crusader for Batman vs Superman, Affleck has withdrawn from The Stand. He had been set in late 2011 to write the script and helm the project. Affleck is busy directing and starring in his scripted adaptation of Dennis Lehane’s Live By Night for Warner Bros.
Warner Bros is teamed on the project with CBS Films, which is co-producing and co-presenting and possibly financing the project together. Dave Kajganich scribed the first draft. Published in 1978, the mammoth novel covered a biological apocalyptic disaster that decimated the population. The survivors then had to try and piece together a new form of humanity and it became a good vs evil struggle, with elements of the supernatural thrown in for good measure. King was at his best, both in creating depictions of the demise of civilization and in the arcs of characters good and bad who became important in a new order.
Roy Lee and Mosaic are producing for Warners and Jon Berg is the studio exec. Cooper is currently developing Creek with Leonardo DiCaprio, and his next film, Out Of The Furnace, is set to release 6 December. That one was produced by Appian Way and Scott Free. Cooper, the actor-turned-filmmaker who made his breakthrough with the Jeff Bridges-starrer Crazy Heart, is represented by CAA and attorney Darren Trattner.
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.
