English Entertainment
Wentworth: Fremantlemedia International, Sky Deutschland tie up
MUMBAI: FremantleMedia International (FMI) has announced it had secured a deal with German-speaking PayTV platform, Sky Deutschland, for the award-winning and critically-acclaimed prison drama, Wentworth.
The deal, which covers all five seasons of the dynamic Australian series, will mark the first time Wentworth will be available to German-speaking viewers. Season 1 will premiere on Sky Deutschland’s recently-launched flagship channel Sky 1 on 7 December.
Set in the present day, Wentworth is a modern adaptation of the classic prisoner series, Prisoner Cellblock H. Filled with divided loyalties, the series takes viewers inside the uncompromising environment of a female prison and delivers a world with unexpected twists and turns and where no character is safe. The high-stakes action-packed storylines and cast of legendary characters has won it international acclaim and industry awards including four Astras; three logies and an Australian Writers Guild Award.
FremantleMedia International’s SVP of German-speaking Europe, CEE, Israel, Russia & CIS Maximilian Bolenius said, “Wentworth is a brilliantly-made, suspenseful and explosive drama filled with twists and turns every step of the way. It’s combination of strong female cast, universal themes and strong scripts make it must-see viewing. I’m really excited that Sky Deutschland viewers will get to meet Bea and the rest of the inmates of Wentworth Prison, and I have no doubt that they’ll be as captivated by their stories as the rest of the world has been.”
Sky Deutschland entertainment channels VP Christian Asanger added: “The thrilling drama series Wentworth is the very successful remake of the series, Prisoner Cell Block H. Since its launch in 2013, Wentworth has won the Australian ASTRA Award for best drama series in two consecutive years – a perfect reason for us to pick this gripping show and launch it as German TV Premiere on Sky 1.”
The show has been sold in over 140 countries worldwide with three local adaptations, the most recent of which is a Flemish-language version commissioned by the commercial Belgian broadcaster Vier.
The show consistently proves to be a ratings success: its first episode became the most-watched Australian drama series premiere in Foxtel history, while Season 4 achieved an average audience share of 5.3 per cent, making it the highest-rated programme on SoHo in 2016 so far. Wentworth’s fifth season was commissioned by Foxtel on 19 July 2016.
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.
