Hollywood
Tom Cruise and Joseph Kosinski team up for Go Like Hell
MUMBAI: The movie Oblivion saw the coming together of Hollywood stars Tom Cruise and director Joseph Kosinski. Now, they have patched up for another upcoming movie, Go Like Hell for 20th Century Fox.
The movie is a battle between Ford and Ferrari for dominance in the sports car market. Based on the book Go Like Hell: Ford, Ferrari and their Battle for Speed and Glory at Le Mans written by A J Baime, the flick is being produced by Lucas Foster and Alex Young.
Cruise will be portraying Carroll Shelby who teamed up with Henry Ford II and Ford executive Lee Lacocca who challenged Ferrari in 1966 by developing the Ford GT40. The project has been under development since 2011. Michael Mann was supposed to direct the movie then and Brad Pitt was being considered for the lead role in the movie.
Cruise will next be seen in Edge of Tomorrow to be released on June 6, 2014. Oblivion collected $286 million over the world.
Hollywood
Paramount seeks FCC nod for foreign-backed $110 billion WBD deal
Gulf funds back merger as foreign stake nears 50 per cent, control stays with Ellison
NEW YORK: Paramount Global has approached the Federal Communications Commission seeking approval for foreign investments tied to its proposed $110 billion acquisition of Warner Bros. Discovery, marking another key step in one of the biggest media deals in recent years.
According to regulatory filings made public this week, the investment backing the deal includes major Gulf sovereign funds such as the Public Investment Fund, the Qatar Investment Authority and L’imad Holding Company. Together, foreign investors are expected to hold just under 50 per cent of Paramount’s equity once the transaction is complete.
Despite the sizeable international backing, Paramount has made it clear that voting control will remain with the family of chief executive David Ellison, ensuring the company stays firmly under US control as required by broadcasting rules.
A company spokesperson described the FCC filing as routine for transactions involving foreign capital and stressed that it does not impact the closing of the deal. Under US law, any significant foreign ownership in broadcast licence holders must undergo regulatory review.
The merger itself has already cleared a major hurdle, with Warner Bros. Discovery shareholders approving the deal on 23 April. The transaction values the company at $31 per share, a 147 per cent premium to its earlier trading price, reflecting strong strategic intent behind the tie-up.
If completed, the combined entity will bring together a vast portfolio including Warner Bros. film studios, HBO Max, and networks such as CNN, TNT and Discovery Channel. The deal is currently expected to close in the third quarter of 2026.
However, scrutiny is intensifying. The US Department of Justice has issued subpoenas seeking details on the merger’s potential impact on cinema competition, streaming services and content licensing. Reviews are also anticipated in international markets, including the United Kingdom.
There is also a financial safety net built into the agreement. If regulators ultimately block the deal, Paramount would face a $7 billion break-up fee. Additionally, the company has taken on $2.8 billion in obligations previously owed by Warner Bros. Discovery to Netflix following an earlier terminated arrangement.
Paramount maintains that easing foreign ownership barriers will unlock fresh capital and strengthen its ability to compete in a rapidly evolving media landscape. For now, the spotlight remains on regulators, whose decision will determine whether this global media consolidation moves from script to screen.
