English Entertainment
Prepare to Samba at the 2019 Rio Carnival in Brazil with COLORS INFINITY Odyssey
MUMBAI: Stepping into 2019 with a promise to excite, engage and entertain, COLORS INFINITY announced the second edition of CI Odyssey, one of the India’s biggest travel contest. Giving consumers the opportunity to win a paid trip to the Rio Carnival in Brazil, the channel has now opened its window for aspiring gallivants to book a seat in this life-changing wanderlust–adventure.
Last year’s campaign garnered immense success, where the winner – Purab Saxena won a chance to fulfill his dream of visiting Ushuaia, often considered as the ‘end of the world, beginning of everything’ in Tierra Del Fuego, Argentina.
Thrilled at the announcement of CI Odyssey 2019, Sabrina D’Souza – Head of Marketing, English Entertainment, Viacom18, said, “Establishing its position as the go-to channel for the latest and best in English Entertainment, COLORS INFINITY has further embedded itself as a clutter-breaking brand to not only consumers but to the industry as well. Creating a rapport with our audience, we offer multiple avenues throughout the year for engagement and entertainment, that goes beyond conventional marketing. Yet again through CI Odyssey, COLORS INFINITY will fulfill the innate travel desires of one lucky winner, who will experience the vibrant Rio Carnival and explore the breathtaking sights of Brazil.”
So, if you yearn for sun-soaked beaches, inimitable scenic locales of a city and the pulse of a bustling festival, follow these simple steps to participate;
Step – 1: Log on to any of our official social media handles;
Facebook: https://www.facebook.com/ColorsInfinity/
Twitter: https://twitter.com/colors_infinity
Instagram: https://www.instagram.com/colorsinfinitytv/
Step – 2: Answer as many questions as possible in the next four weeks with a new question everyday
Step – 3: Don’t forget to put the contest hashtag #ToRioWithInfinity
Step – 4: Pack your bags and prepare for RIO
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.
