Tongues were wagging in Hollywood and on Wall Street last week following the revelation that Warner Bros Discovery chief executive David Zaslav and Paramount chief Bob Bakish had met to discuss a possible merger between the entertainment giants.
The deal could be one of the most significant Tinseltown takeovers since Disney acquired several major 21st Century Fox assets, including the 20th Century Fox film and television studios and the majority of National Geographic, in 2019. Perhaps most significantly for film fans, that arrangement also included the rights to a raft of new Marvel characters to come under Disney’s ownership, including Deadpool, who will enter the MCU in next year’s third instalment, as well as the X-Men and Fantastic Four, the latter of which have a film slotted for 2025.
While there are rumours that some on the latter side are hesitant to make such a move, a Warner-Paramount deal could create a company with a market value of about $40 billion which, while still smaller than rival Disney, worth about $166 billion in Friday’s trading, would see the value of Warner Bros Discovery, the larger of the two merged entities, increase by about 30 per cent overnight.
Paramount’s key properties include CBS, major film studio Paramount Pictures and former Viacom cable channels that include MTV, Comedy Central, BET and Nickelodeon. Warner Bros Discovery, meanwhile, formed from the merger of the two titular media giants last year, is home to household names including DC Comics, HBO, the Discovery Network and the Turner Broadcast channels, namely CNN, TBS and TNT.
It’s an impressive list, but what would this mean for audiences? Perhaps the first tangible effect of a merger for viewers would be a combination of the two entertainment giants’ streaming services, which have been somewhat slow out of the blocks compared to rivals Disney+ and Netflix. The Max/Discovery+ service currently boasts about 95 million global subscribers, while Paramount+ has about 63 million. Some of these subscribers are undoubtedly signed up to both, but a combined service would clearly compare favourably to Disney+’s 105 million subscribers, and at least be somewhat closer to global leader Netflix’s 247 million.
The era of streaming slowdown has seen both Disney and Netflix struggle to attract and retain subscribers, with both introducing ad-supported plans in many markets, further consolidation seems inevitable, especially due to the costly nature of the system that has proven profitable for few in the space. Quite simply, compared to the early days of "cord-cutting" when viewers were gleefully cancelling expensive pay-TV subscriptions to subscribe to one or two streaming services, there are now too many streamers for people to handle, leading to viewers picking and choosing which they prioritise. A comprehensive subscription plan to all of them can run to significantly more than the pay-TV plans of old, and it has become increasingly tough for smaller players and legacy studios to compete with tech giants such as Netflix, Amazon, and Apple.
And while some may view services such as Disney+, Paramount+ and Max to be successful from afar, it was reported in September, that till date, Netflix is the only streaming service to turn a profit. Simply put, the system as it stands doesn't seem to be working for anyone, neither audiences nor the streamers themselves.
A combined Warner/Paramount service would feature properties including Star Trek, DC Comics, Harry Potter, Mission Impossible, Transformers, Spongebob Squarepants and Looney Tunes, and might prove a significantly more tempting offer at a single price point than the current separate services. For viewers in the UAE, though, there would probably be little action required to access the new service since Warner Discovery and Paramount both have deals in place with OSN, and there’s no reason to assume that would change following a merger. In fact, things could get even more synergistic.
OSN, meanwhile has been making its own merger moves as of late, joining forces with Middle Eastern music streamer Anghami to create the biggest streaming platform in the region.
The proposed deal should also be relatively straightforward compared to the Disney/Fox tie-up, which saw US regulators demand that several Fox assets, including Fox News, Fox Sports and Fox TV, were not included in the deal under anti-trust laws as Disney already owned the ABC Network.
Despite its dominance on the cable side, Warner Bros. Discovery does not currently own a broadcast TV network, clearing a more workable path to a takeover. The main potential complication for regulators would come in how they respond to the idea of taking Hollywood’s "Big Five" studios down to four. That seems likely to prove less problematic, however, not least because Paramount is currently about $15 billion in debt, with a negative cash flow.
Faced with the alternative of a repeat of former "Big Six" member MGM’s 2010 bankruptcy, regulators would surely take a "lesser of two evils" stance. International viewers could also see a change in the way they get their news. Paramount-owned CBS News has long been a respected news provider domestically. Combined with CNN’s global footprint, the merged company could be a huge player on the worldwide news stage, and could affect local players, such as the CNN Business Arabic venture that launched earlier this year.
You might think this could attract the attention of regulators too, but the two previously held merger talks around the turn of the century. Sources close to that, eventually uncompleted, deal reported that the view at the time was that the two organisations would complement each other. Of course, the talks are at a very early stage and could yet come to nothing. Warners is not the only suitor for Paramount and its parent National Amusements Inc, either. Nai has made no secret of its financial plight and has already unloaded book publisher Simon and Schuster, while it is currently in talks to sell off its BET cable TV network.
Warners should also not be viewed as a white knight riding in to save the troubled smaller studio – the larger partner in the proposed deal is not in great financial shape itself. Warners’ net debt stood at $43 billion at the end of September, and it’s far from unthinkable that an organisation in better financial shape could come in with a more attractive offer. Both Mission Impossible producer Skydance Media, which already has a co-production and co-financing deal with Paramount, and AC Milan owner RedBird Capital Partners were reported to be eyeing a potential deal for a majority stake in Nai earlier this month, and Warners is not the only show in town.
It may be the most intriguing show in town, however, in large part due to the potential for combined properties. Just as the Disney/Fox deal brought Deadpool and the Fantastic Four into the MCU, and the 2019 Viacom-CBS merger united the Star Trek TV and film franchises under one roof after years as separate entities, a Warners/Paramount deal could see Bugs Bunny locking horns with Captain Kirk, Barbie joining Tom Cruise to scale the Burj Khalifa in a future Mission Impossible, or any number of (probably more credible) hybrids from the combined studios’ repertoire.
But more concerningly for film fans in the region and across the world, it could just mean fewer options moving forward, as a merger will likely mean that the two will produce fewer films and television series so as not to overcrowd their release schedule.
The move could also see completed projects that fans are looking forward to cancelled. Warner Bros Discovery has received criticism for its shelving of films such as Batgirl, directed by Belgian-Moroccan filmmakers Adil El Arbi and Bilall Fallah. The recent scorn the studio received for cancelling the Looney Tunes film Coyote vs Acme actually led to the studio reversing the decision, and is reportedly still currently shopping it to other buyers. Similarly, Paramount received backlash online for announcing it was cutting back on new original animation projects, instead sticking to proven properties.
But if a merger can get the two studios back on track financially, perhaps they'll be able to take a more bold approach to content, leading to an exciting new future for audiences everywhere.
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
Indoor cricket in a nutshell
Indoor Cricket World Cup - Sep 16-20, Insportz, Dubai
16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership
Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.
Zones
A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
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COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
The specs: 2018 Audi R8 V10 RWS
Price: base / as tested: From Dh632,225
Engine: 5.2-litre V10
Gearbox: Seven-speed automatic
Power: 540hp @ 8,250rpm
Torque: 540Nm @ 6,500rpm
Fuel economy, combined: 12.4L / 100km
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
If you go
The flights
There are direct flights from Dubai to Sofia with FlyDubai (www.flydubai.com) and Wizz Air (www.wizzair.com), from Dh1,164 and Dh822 return including taxes, respectively.
The trip
Plovdiv is 150km from Sofia, with an hourly bus service taking around 2 hours and costing $16 (Dh58). The Rhodopes can be reached from Sofia in between 2-4hours.
The trip was organised by Bulguides (www.bulguides.com), which organises guided trips throughout Bulgaria. Guiding, accommodation, food and transfers from Plovdiv to the mountains and back costs around 170 USD for a four-day, three-night trip.
HIJRA
Starring: Lamar Faden, Khairiah Nathmy, Nawaf Al-Dhufairy
Director: Shahad Ameen
Rating: 3/5
COMPANY%20PROFILE
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Janet Yellen's Firsts
- In 2014, she became the first woman to lead the US Federal Reserve
- In 1999, she became the first female chair of the White House Council of Economic Advisers
EPL's youngest
- Ethan Nwaneri (Arsenal)
15 years, 181 days old
- Max Dowman (Arsenal)
15 years, 235 days old
- Jeremy Monga (Leicester)
15 years, 271 days old
- Harvey Elliott (Fulham)
16 years, 30 days old
- Matthew Briggs (Fulham)
16 years, 68 days old
MATCH INFO
Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid
When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid
'The worst thing you can eat'
Trans fat is typically found in fried and baked goods, but you may be consuming more than you think.
Powdered coffee creamer, microwave popcorn and virtually anything processed with a crust is likely to contain it, as this guide from Mayo Clinic outlines:
Baked goods - Most cakes, cookies, pie crusts and crackers contain shortening, which is usually made from partially hydrogenated vegetable oil. Ready-made frosting is another source of trans fat.
Snacks - Potato, corn and tortilla chips often contain trans fat. And while popcorn can be a healthy snack, many types of packaged or microwave popcorn use trans fat to help cook or flavour the popcorn.
Fried food - Foods that require deep frying — french fries, doughnuts and fried chicken — can contain trans fat from the oil used in the cooking process.
Refrigerator dough - Products such as canned biscuits and cinnamon rolls often contain trans fat, as do frozen pizza crusts.
Creamer and margarine - Nondairy coffee creamer and stick margarines also may contain partially hydrogenated vegetable oils.
ASHES FIXTURES
1st Test: Brisbane, Nov 23-27
2nd Test: Adelaide, Dec 2-6
3rd Test: Perth, Dec 14-18
4th Test: Melbourne, Dec 26-30
5th Test: Sydney, Jan 4-8
The biog:
From: Wimbledon, London, UK
Education: Medical doctor
Hobbies: Travelling, meeting new people and cultures
Favourite animals: All of them
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F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
Continental champions
Best Asian Player: Massaki Todokoro (Japan)
Best European Player: Adam Wardzinski (Poland)
Best North & Central American Player: DJ Jackson (United States)
Best African Player: Walter Dos Santos (Angola)
Best Oceanian Player: Lee Ting (Australia)
Best South American Player: Gabriel De Sousa (Brazil)
Best Asian Federation: Saudi Jiu-Jitsu Federation
Pharaoh's curse
British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.
Killing of Qassem Suleimani
