English Entertainment
Watch Kendrik Lamar, Drake, Cardi B, Camila Cabello and the entire music universe at the industry’s biggest award night – The 61st Annual Grammy Awards exclusively on Vh1 India
MUMBAI: Music awards don’t get bigger than the GRAMMYS! Music industry’s most coveted and nonpareil annual award ceremony returns tofelicitate talent par excellence. Unanimously reckoned as the highest honor for a musician, The Recording Academy recognizes artists for their exemplary achievements in the industry on this starry night. Hosted by fifteen-time GRAMMY winner Alicia Keys, the 61stAnnual Grammy Awardswill airexclusively on Vh1 India,this Monday February 11 at 7:30am, with repeat telecasts at 2pm and 9pm.
“Vh1 India has continued to reign as the undisputed leader in showcasing the best and biggest music events from all over the globe. Widely reputed as the pinnacle of music industry awards, the GRAMMYS is also one of the most anticipated events for music enthusiasts and viewers in India. As die-hard fans of icons like Kendrick Lamar, Drake, Cardi B, Lady Gaga and many more nominated artists, wait with bated breaths, Vh1 ensures they can experience the excitement ofthe awardsas it happens at the Staples Center in LA.“ said, Hashim Dsouza – Head of Programming, English Entertainment, Viacom18.
Making her GRAMMY performance debut, current nominee Camila Cabello will take the stage on music’s biggest night, along with performances by co-nominees Cardi B, Dan + Shay, Post Malone, Shawn Mendes, Janelle Monáe, and Kacey Musgraves. The Recording Academy further expanded its performances lineup with a special tribute to eight-time GRAMMY winner and 2019 MusiCares® Person of the Year – Dolly Parton, who makes her return to the GRAMMY stage for the first time since 2001. Dolly's special tribute segment will also feature her classic hits sung by Little Big Town, Maren Morris, Kacey Musgraves and Katy Perry.
Dominating nomination categories, Hip-Hop kings Kendrick Lamar and Drake lead the race with eight and seven nods respectively, while Brandi Carlilebecomes the most nominated female artist with six nods. Marking its first major recognition outside of the Korean music space, K-pop band BTS earned a nomination for ‘Best Recording Package’. Also nominated in this year’s Grammy awards are Indian-origin artists Falguni ‘Falu’ Shahfor Falu’s Bazaar, Snatam Kaur Khalsa for Beloved andPrashant Mistry (Engine-Earz Experiment) for Symbol in the following categories – ‘Best Children’s Album’, ‘New Age Album’ and ‘Best Immersive Audio Album’ respectively.
The 61st Grammy Awards will also honor Lifetime Achievement Recipient Diana Ross for her profound contributions to music and a landmark career comprising of 42 chart-topping songs, 91 singles & 59 albums with a special 75th Diamond Diana Birthday Performance at the ceremony.
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.
