English Entertainment
Zee Studios International to release the most anticipated films of August and September!
MUMBAI: While the second half of 2018 has just begun, Zee Studios International, leading overseas film distributor, continues growing strong and has already announced its robust slate for August and September! Having distributed hits like Raazi, Veere Di Wedding, Parmanu and Dhadak, the latter of 2018 has opened new avenues for the distributor with their venture into Foreign Language Cinema, apart from taking prominent Bollywood films to markets outside India.
Zee Studios International has recently distributed Ishaan Khatter and Janhvi Kapoor’s ‘Dhadak’ and has diversified its distribution and marketing with an exciting line-up for the next two months including Anubhav Sinha’s ‘Mulk’ starring Rishi Kapoor and Taapsee Pannu, Excel Entertainment’s Akshay Kumar starrer ‘GOLD’, Arjun Rampal’s ‘Paltan’, Fahad Mustafa & Mehwish Hayat’s ‘Load Wedding’, Marathi film ‘Pushpak Vimaan’ and ‘Anandi’, Philippine Cinema including films like ‘Buy Bust’, ‘The Day After Valentine’s’ and ‘Miss Granny’.
Alongside these films, Zee Studios International is also distributing their first Tamil comedy thriller film ‘Coco’ (also referred to as Kolamaavu Kokila). Releasing in more than 20 countries with over 200 screens, Coco will be seen in over 70 screens in USA.
In the past, they have distributed films like Hindi Medium, Mom, Secret Superstar, Raees, Fukrey Returns, Parmanu, Raazi, Veere Di Wedding and the recent Dhadak across markets including U.K, USA, Canada, Australia, New Zealand, Singapore, UAE/GCC, and in unconventional markets like Russia, Turkey, Germany, Austria, Czech Malta, Hungary, Maldives Taiwan, Hong Kong and China to name a few.
Commenting on this development Vibha Chopra, Head – Zee Studios International (Film Marketing, Distribution, and Acquisition) said, “We at Zee Studios International are thrilled to distribute more and more films across territories, in variant languages as well as acquire worthwhile/rewarding content. We have been able to gradually shift from distributing Bollywood films to now distributing foreign films in markets outside India. Having the right team and constantly focussing our energies on content-driven films has allowed us to be able to attract as many markets while developing our traditional markets and audiences around the world”
Having recently distributed their first ever foreign film Sid & Aya: Not A Love Story in Singapore last month, Vibha adds “We thank our partners who have helped us in distributing our films across the globe, allowing us to reach the viewers, localize our content, which in turn has helped us to customise our marketing for each territory.”
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.
