Hollywood
World Film Premiere Festival to coincide with International Film Expo in Manila
NEW DELHI: A World Premiere Film Festival is to be launched by the Film Development Council of the Philippines (FDCP) in June next year to coincide with the annual International Film Expo (IFX)
The inaugural edition will host 25 to 30 feature films including a 12-film competition and a programme of films from ASEAN countries. Organisers expect that the competition films will be world premieres or, at least, Asian premieres.
The festival has already struck a partnership with the Shanghai International Film Festival, which will next year screen a programme of films from the Philippines. The Manila event will be hosted either before or after SIFF.
WPFF will be hosted at SM Mall of Asia and at the new SM Aura in Metro Manila’s Taguig City, which includes a 449-seat IMAX screen.
The festival also hopes to introduce a distribution component so that films have a life after the festival.
According to FDCP Head Briccio G. Santos, he is already in talks with various embassies in Manila – including those of Italy and Spain – to secure films to broaden the range of foreign films reaching local cinemas.
Hollywood
Paramount eyes $24bn Gulf support to fund Warner Bros Discovery merger: Reports
Sovereign funds line up funding as media giants chase streaming scale
NEW YORK: Paramount Skydance is in talks to secure nearly $24 billion in equity commitments from Gulf sovereign wealth funds to support its planned takeover of Warner Bros. Discovery, according to a WSJ report.
The funding push comes as Paramount Skydance advances its proposed $110 billion deal for Warner Bros. Discovery, which carries an equity valuation of $81 billion and is expected to close in the third quarter of 2026.
At the heart of the financing plan are three major Gulf investors. Saudi Arabia’s Public Investment Fund is expected to contribute roughly $10 billion, while the Qatar Investment Authority and Abu Dhabi-based L’imad Holding are likely to make up the remainder.
Crucially, the proposed investments are structured as non-voting stakes. This means the Gulf backers would not have direct control in the combined entity, a move designed to ease regulatory concerns in the United States. Paramount executives reportedly do not expect the deal to trigger scrutiny from bodies such as the Committee on Foreign Investment in the United States or the Federal Communications Commission.
If completed, the merger would bring together a formidable portfolio of entertainment and news assets, including CNN and CBS. The combined entity aims to better compete in a fast-evolving media landscape where streaming platforms are steadily pulling audiences away from traditional television.
The deal reflects a broader shift in global media, where scale is increasingly seen as essential to survive the streaming wars. By pooling content libraries, technology and distribution, Paramount Skydance and Warner Bros. Discovery are betting on size and synergy to drive future growth.
The involvement of deep-pocketed Gulf investors also underscores the growing role of sovereign wealth in shaping global media consolidation, particularly at a time when high-value deals demand equally large financial backing.
With shareholder votes and regulatory milestones still ahead, the proposed tie-up remains one of the most closely watched media deals of the year. If it clears the final hurdles, it could redraw the competitive map of the global entertainment industry.
