Hollywood
Spielberg to bring Dahl’s ‘Big Fat Giant’ on screen
MUMBAI: According to The Hollywood Reporter (THR), Steven Spielberg will helm the live-action film adaptation which will be based on the fantastical tale of a Big Friendly Giant (BGF) who befriends a young orphan girl.
The BFG is no ordinary bone-crunching giant. He is far too nice and jumbly. Had she been carried off in the middle of the night by the Bloodbottler, the Fleshlumpeater, the Bonecruncher, or any of the other giants-rather than the BFG-she would have soon become breakfast.
When Sophie hears that they are flush-bunking off in England to swollomp a few nice little chiddlers, she decides she must stop them once and for all. And the BFG is going to help her!
DreamWorks acquired the book in 2011 with Kathleen Kennedy and Frank Marshall to produce. Melissa Mathison, who penned the script for E.T., wrote the screenplay. Marshall will produce with Michael Siegel on board as executive producer along with Madden.
There has been one other adaptation of the popular children’s book: for a 1989 animated made-for-TV television movie in the U.K. Spielberg, has not directed a movie since 2012’s Lincoln, but Spielberg is officially committing himself to BFG and is planning a 2015 start date with a release in 2016.
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.
