English Entertainment
AXN to premiere ‘Sherlock: The Abominable Bride’
MUMBAI: AXN is starting off 2016 with a special treat for Sherlockians in India. Catch the premiere of the much-awaited special episode from BBC series, Sherlock, entitled, Sherlock: The Abominable Bride, on 9 January, 2016, and watch the repeat on 10 January 2016 at 12 noon only on AXN.
Set in the Victorian London of 1895, this special episode will witness Sherlock Holmes and Dr. Watson in a different era. The world’s most famous detective-duo find themselves amidst a Baker Street of steam trains, hansom cabs and top hats. But some things remain reassuringly the same, such as their friendship, the adventure, the murder… and the dialogue, “The Name is Sherlock Holmes and the address is 221 Baker Street”.
Talking about the premiere of the special episode, Sony PIX & AXN India executive vice-president and business head Saurabh Yagnik says, “Sherlock is an icon worldwide, and AXN is the home to Sherlock in India. The fans here have waited two-long years to see the new episode of this cult show, and we are very excited to be premiering it. In Sherlock: The Abominable Bride, viewers will witness a very different, Victorian version of the contemporary Sherlock. Tuning in to this two-hour special episode will definitely enthral the viewers as they are taken into a different era of mystery and crime-solving. We expect to delight our viewers with this offering because they know, if it’s Sherlock, it has to be on AXN.”
The Sherlock series is written and created by Steven Moffat and Mark Gatiss, and inspired by the works of Sir Arthur Conan Doyle. Before the production of Season 4 kicks off later this year, this special episode will be a treat to the Sherlock fans in India, who can now catch the premiere exclusively on AXN!
“Sherlock has become a global phenomenon that we at BBC worldwide are extremely proud of. AXN India has been a valued partner for Sherlock for the past three seasons and we are very happy to work with them again for Sherlock: The Abominable Bride. We are confident that this special episode will captivate Sherlock fans in India”, adds BBC Worldwide India SVP & GM Myleeta Aga.
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.
