English Entertainment
Sony Pix introduces new programming property
MUMBAI: Sony Pix enthralled fans through 2020 with the biggest Hollywood premieres, new programming IPs and innovations so much so that it was audience’s favorite English movie channel. Now entering 2021 with a renewed zest to entertain, Sony Pix is helping viewers keep up the trend of new year, new resolutions by introducing a new programming property – Amazement @9: New Year Resolution. As part of the property, Sony Pix will pick a different theme each week and show the relevant, best of Hollywood movies under each theme.
‘Amazement @9: New Year Resolution’ movie property goes live on 11 January and will air movies from Monday to Friday at 9 pm. The theme will vary each week starting with ‘Have No Fear All Year’ under which there’ll be movies like I am Legend and Rampage, ‘Fit Enough To Kickass’ under which there’ll be Cold Pursuit and 300 among other movies, ‘Always Say Yes To Adventure’ which will have movies like How to Train Your Dragon and Fantastic Beasts and lastly, ‘Be A Hero’ under which there’ll be Wonder Woman and Justice League among other movies.
Additionally, there is the Indian television premiere of King of Thieves on 10 January at 9 pm. The movie has a stellar cast consisting of stalwarts like Michael Caine and Michael Gambon among others. There are also two popular movies airing first time on Sony Pix Kung Fu Panda 3 on 24 January at 1 pm and 9 pm and The Intern on 31 January at 9 pm. And to add to this, there’s a special programming line-up on Republic Day to keep the thrill and amazement alive through the day – there’s Fast & Furious PIXathon on 26 January, 9 am onwards.
And finally, continuing the legacy of introducing and showing multi-language films on a Hollywood movie channel, Sony Pix will have a special multi-language line-up on the occasion of ‘Pongal’ and ‘Makar Sankranti’ on 14 January, 10 am onwards. This special festival will consist of blockbuster movies like The Dark Knight, Fantastic Beasts and Where To Find Them, How to Train Your Dragon, The Mummy Returns and more.
Sony Pictures Networks India English cluster business head Tushar Shah said, “We are excited to start the new year with the same, new resolutions as our fans, which includes not to fear, which is with new resolutions which include to not fear, to be adventurous, to be fit and to be a hero when needed the most. We ended last year on a good note, with the love of our fans and we hope the same from this year too – to keep the entertainment and amazement quotient high with the best of Hollywood movies”.
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.
