English Entertainment
Zee Café strengthens its originals library with ‘Chef Vs. Fridge’
MUMBAI: Zee Café is gearing up for the launch of its second original in 2021, Chef Vs. Fridge. Keeping up with the latest social trends, be it dance or food with the new show, the channel has released a teaser featuring celebrity chef Vicky Ratnani and Gaurav Gera aka ‘Chutki’ in their element as they announce the new show. Set to air in April, the show presents the ultimate food experience that will excite, entertain and make every foodie go wow.
Chef Vs. Fridge promises to be a unique competitive cooking show for every Indian foodie. Launched with the commitment of ‘ab fridge lega sabki class, aur chefs banaenge kuch world class’, the teaser features Gaurav Gera in his popular ‘Chutki’ avatar and Chef Vicky as the two experience a relatable situation when they open their fridge. What’s expected to be a fun ‘pawri’ turns to a challenge posed by the random ingredients found in the fridge. While Gaurav is dismayed, chef Vicky takes on the task and cooks up a storm. This appetizing teaser surely leaves viewers waiting for more. With yet another fun-filled digital challenge, unique cuisines and an exciting line-up of participants, there is loads to look forward to on this food fiesta!
In line with the announcement, the channel has onboarded leading brands as partners for the show. Co-presented By Haier, co-powered by Lifebuoy, cookware partner Prestige, spice partner Catch Salt & Spices and gifting partner The Gift Studio, the show promises to be a unique platform with multiple integration opportunities for brand partners.
ZeeL premium channels business head Kartik Mahadev said, “As we look to build more original content, we realised there is a gap when it comes to homegrown cooking competition shows and thus the inception of Chef Vs. Fridge. The show will feature exciting cook-offs, unique food combinations and interactive challenges for our viewers. There are multiple innovative integration opportunities being planned that are core to the show and we are certain that our brand partners will be delighted.”
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.
