Hollywood
‘Vampire Diaries’ prod house to adapt new novel by ‘Sisterhood of Travelling Pants’ scribe
MUMBAI: Alcon Entertainment and Alloy Entertainment along with Kira Davis’ 8:38 Productions have acquired film rights for Young Adult (YA) novel The Here and Now by Ann Brashares.
The Here and Now follows the story of seventeen-year-old Prenna James, who immigrated to New York when she was twelve. Except Prenna didn’t come from a different country, she came from a different time – a future where a mosquito-borne illness has mutated into a pandemic, killing millions and leaving the world in ruins.
Prenna and the others who escaped to the present day must follow a strict set of rules: never reveal where they’re from, never interfere with history, and never, ever be intimate with anyone outside their community. She does as told, believing she can help prevent the plague that will one day ravage the earth. But everything changes when Prenna falls for Ethan Jarves.
This upcoming film project marks a reunion for Alloy, Alcon and 8:38, as the three companies collaborated on their two movies based on Brashares’ The Sisterhood of the Travelling Pants novels. Starring Blake Lively (Gossip Girl), Alexis Bledel (Gilmore Girls), America Ferrera (Ugly Betty) and Amber Tamblyn (Two and a Half Men), the first film, The Sisterhood of the Travelling Pants was released in 2005 and earned $42 million worldwide, and the sequel, The Sisterhood of the Travelling Pants 2 followed in 2008, earning $44.4 million worldwide.
“I’m excited to be working with Alloy and Alcon again as they take my latest novel and the main character of Prenna James to the big screen,” said Brashares in a statement. “We had an incredibly productive collaboration on The Sisterhood of the Travelling Pants, and I’m looking forward to building on that great foundation we established for The Here and Now.”
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.
