English Entertainment
TV channels gear up for V-Day
MUMBAI: Even as the week-long drum-up to Valentine’s Day draws to a grand finale, television channels are pulling out all stops to up the love quotient. Ergo, come 14th February, you and your loved one will be spoilt for choice, what with a slew of romantic comedies and epic love stories on offer on the small screen.
Among the leading English entertainment channels, Romedy Now will air seven of the most loved English movies of all time – Titanic, No Strings Attached, 27 Dresses, You’ve Got Mail, Valentine’s Day, Sleepless in Seattle and Another Cinderella Story – 7:50 a.m. onward.
While Movies Now, will bring love in its different hues with the likes of Titanic, P.S. I Love You, Little Manhattan, He’s Just Not That into You and Two Weeks’ Notice.
On Star Movies, romance will range from the classic – My Best Friend’s Wedding, As Good As It Gets and Bridget Jones’ Diary to the contemporary – Just Go with It, Hitch, Friends with Benefits and The Twilight Saga: Breaking Dawn – Part 2 !
And while on the subject of Twilight, if you want to see how it all began, catch The Twilight Saga: Twilight followed by The Twilight Saga: New Moon and The Twilight Saga: Eclipse on HBO Defined. The channel has also lined up new and old favorites like The Notebook, The Lake House, LOL, When in Rome and No Reservations.
By contrast, Sony Pix offers couples who choose to be anything but cliché a range of action packed films like Hancock, Skyfall, The Terminator, Spiderman 2 and Mission: Impossible 2.
Coming to English GECs, Comedy Central will offer lots of love and laughs with a back-to-back telecast of award-winning series, Rules of Engagement.
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While Star World, will treat die-hard romantics with a marathon session of popular series Melissa and Joey.
AXN however, will stick to its trademark thrills and chills even on a day meant for love. The channel will bring viewers back-to-back episodes of season 3 of the contemporary crime drama Sherlock starting 12 noon.
Not to be left behind, Vh1 will go to town with the choicest line-up of love songs in a special show titled Valentine’s Day Special, to be aired at 8am and 7pm on D-day.
With a celebration so big and varied and colourful, we think even Saint Valentine would approve…
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.
