World Movie News: The Last 24 Hours
A federal judge clears Paramount’s $111 billion Warner Bros. Discovery takeover, Vijay Sethupathi’s Baththa opens strong in India, and happy birthday to Brie Larson.
Morning all — the biggest story in the industry’s corporate side just crossed its final legal hurdle, so that has to lead today. Here’s what happened in the world of movies during the last 24 hours.
Paramount’s takeover of Warner Bros. Discovery clears its last legal obstacle: A US federal judge yesterday approved Paramount’s settlement with a group of 12 Democratic state attorneys general, clearing the way for its $111 billion acquisition of Warner Bros. Discovery — the most expensive takeover in Hollywood history, and one that stitches together two of the industry’s biggest film studios alongside HBO Max, Paramount+, CBS, CNN, MTV and more. The deal is now expected to formally close on 6th October. Under the five-year, court-enforceable settlement, the combined studio must release at least 30 theatrical films a year for its first two years (rising to 32 after that), maintain minimum numbers of wide and independent releases, keep both the Hollywood and Burbank studio lots, and quadruple its US film tax incentive commitments — with the threat of forced divestitures (Miramax, VH1, Comedy Central among them) if it fails to comply. Financing reportedly includes roughly $24 billion in equity from the sovereign wealth funds of Saudi Arabia, Qatar and Abu Dhabi, alongside major backing from Larry Ellison. Outgoing Warner Bros. Discovery CEO David Zaslav is set to walk away with more than $550 million in stock, cash and severance once it closes. It’s a genuinely industry-reshaping moment, and one this newsletter will be watching closely over the coming weeks.
Baththa opens strong as The Paradise’s run cools: Over in Indian cinema, Vijay Sethupathi’s Tamil action drama Baththa opened in cinemas today to encouraging early reactions, written and directed by Balaji Tharaneetharan and co-starring Lijomol Jose. Meanwhile Nani’s The Paradise, last week’s big story, has begun to see its box office momentum cool after a hugely strong opening stretch — a reminder of just how quickly India’s weekly chart can turn over.
Happy birthday to Brie Larson: Rounding things off, happy birthday today to Room and Captain Marvel actress Brie Larson, who turns 37.
That’s all for today. I’m still busy watching films at the London Film Festival press week, so expect another deluge of new reviews today!
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