Movies
Sony Pictures Television, UNF to showcase emerging filmmakers
MUMBAI: Sony Pictures Television Networks (SPTN), in partnership with the United Nations Foundation (UNF), has announced the opening of the Picture This Festival for the Planet, a short-film competition for emerging filmmakers to showcase the positive future they see for the planet. Starting 30 January, people from over 70 countries around the world are invited to submit videos between one and eight minutes in length inspired by the sustainable development goals (SDGs), a set of global goals agreed upon by all 193 member states of the United Nations to end poverty, protect the planet and promote prosperity for all.
SPTN president Andy Kaplan said: “At Sony, we are proud champions of the intersection between storytelling and innovation and are incredibly excited to spearhead Picture This. With the support of the UNF and our other partners, we look forward to elevating and amplifying these important development goals through the voices of emerging creatives and acknowledge their good work in a meaningful way.”
The partners in this year’s festival are:TheUnited Nations Foundation, the United Nations Association of the United States of America, WeTransfer, Sony World Photography Awards, Sony Alpha Universe,the Environmental Media Association and leaders and environmental visionariesfrom around the globe. SPTN launched a similar contest in 2016 across its channel portfolio worldwide, including its flagship brands AXN, Sony Channel, Crackle and Animax and those same flagship channels will participate in this year’s festival.
Sony Pictures Networks India MD & CEO NP Singh said, “Much of India’s development agenda is embodied in the SDGs. Sony Pictures Networks India (SPN) is supporting the Picture This festival for the Planet because we believe that heightened social consciousness leads to positive social impact. Visual storytelling is a powerful tool to inspire social change. That is why we would like to invite students, professionals, academicians, environmentalists and filmmakers to submit their entries.”
United Nations Foundation deputy CEO Elizabeth Cousens said: “The Picture This Festival for the Planet is an innovative new platform to connect global audiences to what is happening on the ground as people put the SDGs into action in their daily lives. The United Nations Foundation appreciates Sony’s deep commitment to sustainability and its willingness to leverage its creativity and reach to bring the SDGs to new audiences.”
Hollywood
Paramount Skydance secures financing for Warner Bros Discovery deal
Debt syndication and new loans push $111 billion merger closer to close
WASHINGTON: Paramount Skydance has taken a major step towards its planned acquisition of Warner Bros Discovery, securing fresh financing and completing the syndication of its bridge loan facility.
In a filing with the Securities and Exchange Commission, the company confirmed that the bridge facility has now been distributed among a group of 18 banks, reducing total commitments to $49 billion from an earlier $54 billion. The move spreads risk across lenders and signals growing confidence in one of the year’s largest media deals.
Alongside this, the company has finalised permanent financing arrangements, including $5 billion in senior term loans and a $5 billion revolving credit facility. A previously planned $3.5 billion credit line has been dropped as part of the restructuring.
The loans are secured against key assets, including Paramount Global, Skydance Media and Warner Bros post-merger, underlining the scale and complexity of the transaction.
The financing push follows a competitive bidding process earlier this year, which saw interest from players such as Netflix before Paramount Skydance emerged as the frontrunner. The deal, valued at $111 billion, is expected to close in the third quarter, subject to regulatory approvals.
Adding to the momentum, the company has also secured significant equity backing, including investments from Middle Eastern funds, with support from billionaire Larry Ellison, who has guaranteed the equity portion of the transaction.
Commenting on the development, Paramount Skydance chief strategy officer Andy Gordon said, “Our successful debt syndication and new debt facilities represent another important milestone towards the completion of our acquisition of Warner Bros Discovery.”
Once completed, the combined entity is expected to carry net debt of just under $80 billion, reflecting the sheer scale of the merger.
As Hollywood continues to consolidate in the streaming era, this deal could reshape the competitive landscape, with Paramount Skydance betting big on scale, content and financial muscle to take on global rivals.
