English Entertainment
“We will be looking into more original productions that are local and relevant to Indian audiences” : Sony Pictures Television SVP, GM, Networks Asia Ricky Ow
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Sony Pictures Television is on a major expansion course in Asia. It has widened its portfolio with the launch of a new channel, ONE. AXN HD has also launched in several markets.
The key strategy is to up localisation in language, on-air presentation and local original production so as to make the channels more relevant. 
In an interview with Indiantelevision.com‘s Ashwin Pinto, Sony Pictures Television SVP, GM, Networks Asia Ricky Ow elaborates on the company‘s brand positioning, growth, challenges and expansion plans.
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How would you describe the performance of SPE Networks Asia over the past couple of years?
In addition, we have expanded our portfolio by entering the Asian GE content space with the launch of our new channel, One. In a nutshell it has been a good couple of years with strong growth and expansion. |
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What are the priorities and key strategies for it going forward? |
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To what extent was the company affected by the economic downturn?
While there was some loss in ad sales momentum, it was nothing too drastic. We have always had a strong culture of prudence and the downturn actually provided us a great opportunity to further build our brand and engage our audiences by revisiting some of the basics in how we connect with them. |
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Are things back to normal now or are some Asian markets still feeling the impact? |
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How has SPE Networks Asia grown the number of feeds over the past couple of years? |
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Could you talk about the growing importance of HD for SPE?
AXN is a channel brand that is very relevant to early technology adopters and we have already launched AXN HD in Korea and several Southeast Asian markets. We have plans to bring it to India as well. |
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When he was in India, Sir Howard Stringer mentioned the importance of 3D for Sony. What role will this technology play in your broadcast business in the coming two to three years? |
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The last time we spoke you had mentioned revenue leakage from piracy being a concern. Is the growing digitisation in India addressing this problem? |
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There are synergies that exist between the broadcast business and other business verticals of Sony in India and across Asia. Could you talk about how this area is being exploited? |
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We are seeing more players enter the English GEC space in India after a long time when there have been just three players. What impact will this have?
With greater competition and more choices, the overall English GE viewership can expand and everyone wins. |
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From a programming perspective is AXN‘s template going to stay the same or are you looking to innovate?
An example comes in the form of AXN‘s Minute to Win It for India, which serves to localise the entertainment experience on the channel and make the content more relevant for Indian audiences. |
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Other English channels have introduced subtitling. Is AXN also doing this? |
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With CBS having launched channels in India, how will this affect deals you do with them? Will new seasons still be available? |
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On the localisation front, how has the response been to Minute To Win It India‘?
We are glad that Indian viewers have readily come forward to offer their honest feedback on Minute to Win It, without our having to ask. This points to real excitement and following for the show and format. We will be taking some of the suggestions to make Minute to Win It even better next season. |
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What is next on the local front? |
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You devised a social media strategy to push this show. How effective is social media in communicating AXN‘s brand message? |
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Social media means that brands lose control to an extent in terms of how information filters down and is disseminated to the consumer. That makes some companies insecure. How does SPE Networks Asia view this medium?
If responses received are negative, then we know we have to improve. Vice versa, if feedback is positive and we can continue in the direction which we know is right. We are never afraid of negative reactions and welcome all feedback.
Only when viewers engage with our channel brand do we understand them better and social media has enabled us to do this like never before and we will continue using it. |
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How is AXN perceived as a brand by viewers and advertisers? Has the perception changed over the past few years?
However, the definitions of ‘Action‘ and ‘Adventure‘ have probably evolved over the years. As audiences have grown increasingly sophisticated and mature in their choice of content, ‘Action‘ and ‘Adventure‘ may no longer be the same hard-boiled, head-on action in AXN programmes of yesteryear.
Instead, we find viewers embracing values such as courage, determination and irreverence embodied by key characters of popular AXN shows such as the CSI franchise, NCIS: LA, Leverage and Justified. This is also true when you consider the great support and following for local heroes from across the region who embark on the race of their lives in AXN‘s original production, The Amazing Race Asia. |
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What work has been done in the new media area by SPE Networks Asia in other Asian markets like Taiwan and Korea and what have the learnings been?
For SPT Networks Asia, we operate the Animax Mobile 3G streaming service as well as online catch-up TV for selected channels and programmes in various markets. We have found that these work for the youth who tend to be more active online and on mobile. |
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Is SPE Networks Asia going to launch more channels in India like AXN Beyond with digitisation growing? |
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.
