Movies
PVR responds to disgruntled customer’s complaint with F&B schemes
Mumbai: Going to catch up on a film in the movie theaters, has become an expensive affair, quite literally. Even though movie ticket prices are not that costly, it’s the sky-rocketing prices of food & beverages (F&B) that make it an overall pricey experience.
PVR displayed a small gesture in response to a customer’s tweet, which went viral a few days back, complaining about the F&B pricing at cinemas. The film goer complained about the high prices on F&B at PVR Noida. To show that it pays heed to the voice of its consumers, and respects their opinion, PVR has announced some unprecedented F&B offers for weekdays and weekends at all its cinemas through #PVRHeardYou
We at PVR believe that every opinion matters and it must be respected. We have this update for you and for every moviegoer in India #PVRHeardYou https://t.co/rrBL3xFUJs pic.twitter.com/PsOvxxqAaj
— P V R C i n e m a s (@_PVRCinemas) July 12, 2023
Hollywood
Paramount Skydance secures financing for Warner Bros Discovery deal
Debt syndication and new loans push $111 billion merger closer to close
WASHINGTON: Paramount Skydance has taken a major step towards its planned acquisition of Warner Bros Discovery, securing fresh financing and completing the syndication of its bridge loan facility.
In a filing with the Securities and Exchange Commission, the company confirmed that the bridge facility has now been distributed among a group of 18 banks, reducing total commitments to $49 billion from an earlier $54 billion. The move spreads risk across lenders and signals growing confidence in one of the year’s largest media deals.
Alongside this, the company has finalised permanent financing arrangements, including $5 billion in senior term loans and a $5 billion revolving credit facility. A previously planned $3.5 billion credit line has been dropped as part of the restructuring.
The loans are secured against key assets, including Paramount Global, Skydance Media and Warner Bros post-merger, underlining the scale and complexity of the transaction.
The financing push follows a competitive bidding process earlier this year, which saw interest from players such as Netflix before Paramount Skydance emerged as the frontrunner. The deal, valued at $111 billion, is expected to close in the third quarter, subject to regulatory approvals.
Adding to the momentum, the company has also secured significant equity backing, including investments from Middle Eastern funds, with support from billionaire Larry Ellison, who has guaranteed the equity portion of the transaction.
Commenting on the development, Paramount Skydance chief strategy officer Andy Gordon said, “Our successful debt syndication and new debt facilities represent another important milestone towards the completion of our acquisition of Warner Bros Discovery.”
Once completed, the combined entity is expected to carry net debt of just under $80 billion, reflecting the sheer scale of the merger.
As Hollywood continues to consolidate in the streaming era, this deal could reshape the competitive landscape, with Paramount Skydance betting big on scale, content and financial muscle to take on global rivals.
