LONDON: Sony Pictures Entertainment and Apollo Global Management are discussing making a joint bid for Paramount Global, according to a person familiar with the matter.
The companies have yet to approach Paramount, which is in exclusive deal talks with Skydance Media, an independent studio led by David Ellison, though some investors have urged Paramount to explore other options.
The competing bid, which is still being structured, would offer cash for all outstanding Paramount shares and take the company private, the source said.
Sony would hold a majority stake in the joint venture and operate the media company, and its library of films, including such classics as “Star Trek,” “Mission:Impossible” and “Indiana Jones,” and television characters like SpongeBob SquarePants, according to the source.
Sony Pictures Entertainment Chairman Tony Vinciquerra, a veteran media executive with deep experience in film and television, would likely run the studio and take advantage of Sony’s marketing and distribution.
Apollo would likely assume control of the CBS broadcast network and its local television stations, because of restrictions on foreign ownership of broadcast stations, the source said. Sony’s parent corporation is headquartered in Tokyo.
The New York Times first reported the Sony-Apollo discussions. Paramount and Sony declined comment. Apollo could not be reached for comment.
The private equity firm previously made a $26 billion offer to buy Paramount Global, whose enterprise value at the end of 2023 was about $22.5 billion.
A special committee of Paramount’s board elected to continue with its advanced deal talks with Skydance, rather than chase a deal “that might not actually come to fruition,” said two people with knowledge of the board’s action.
The board committee is evaluating the possible acquisition of the smaller independent studio in a stock deal worth $4 billion to $5 billion.
Skydance is negotiating separately to acquire National Amusements, a company that holds the Redstone family’s controlling interest in Paramount, according to a person familiar with the deal terms. That transaction is contingent upon a Skydance-Paramount merger.
Sony, Apollo discuss joint bid for Paramount, says source
https://arab.news/rjjuj
Sony, Apollo discuss joint bid for Paramount, says source
- Paramount is already in an exclusive deal with Skydance Media over possible merger
US State Department orders enhanced social media screening for student and visa applicants
DUBAI: The US State Department has ordered overseas officials to scour the social media accounts of some student and exchange visitor visa applicants in a bid to stop critics of the US and Israel from entering the country, say media reports.
US Secretary of State Marco Rubio sent out a 1,700-word cable on March 25 titled “Action Request: Enhanced Screening and Social Media Vetting for Visa Applicants.” It described the process foreign service officers abroad must follow when reviewing student and exchange visitor visa applications.
Independent news site The Handbasket, which broke the story, said the cable asked consular officers to refer certain applicants to the Fraud Prevention Unit for a mandatory social media check. The enhanced vetting applies to those suspected of having terrorist ties or sympathies, those who held a student or exchange visa between Oct. 7, 2023, and Aug. 31, 2024, and those who have had a visa terminated since Oct. 7, 2023.
A State Department employee told the media outlet it was “pretty clear the immediate target is anyone who participated in pro-Palestinian protests — one of the triggers for social media screening is having been in the US on one of these visas between Oct. 7 and the end of last August.”
The cable states that, during the screening, officers “MUST ADDRESS any derogatory information indicating that a visa applicant may be subject to the terrorism-related ineligibility grounds of the Immigration and Nationality Act,” which includes “advocating for, sympathizing with, or persuading others to endorse or espouse terrorist activities or support a DESIGNATED FOREIGN TERRORIST ORGANIZATION.”
It also contains some broader guidance. One section suggests a student visa applicant does not necessarily need to express explicit support for terrorist activity in order to be denied as long as they demonstrate “a degree of public approval or public advocacy for terrorist activity or a terrorist organization.”
This could be evident in “conduct that bears a hostile attitude toward US citizens or US culture” or in “advocacy or sympathy for foreign terrorist organizations.”
“All of these matters may open lines of inquiry regarding the applicant’s credibility and purpose of travel,” the cable states.
Some directives are somewhat vague — perhaps intentionally, so they can be applied in whichever way is required, the State Department employee told The Handbasket.
The cable also cites a quote from Rubio’s interview with CBS on March 16: “We don’t want people in our country that are going to be committing crimes and undermining our national security or the public safety. It’s that simple. Especially people that are here as guests. That is what a visa is ... It is a visitor into our country. And if you violate the terms of your visitation, you are going to leave.”
Since taking up his role in January, Rubio has revoked at least 300 visas awarded to students, visitors and others. Last Thursday, he told the media he had signed letters on a daily basis. He refused to comment on how the cases came before him, but said he reviewed each one personally.
“If they’re taking activities that are counter to our national interest, to our foreign policy, we’ll revoke the visa,” he said.
Rubio added that a visa holder charged with a crime while in the US should automatically lose their permission to be in the US. Permanent residents, or green card holders, are not exempt from additional scrutiny and could also lose their status.
Last month, Rubio signed off on revoking the PR status of Syrian-born Mahmoud Khalil and Yunseo Chung, of South Korea, both of whom were involved in pro-Palestinian protests at Columbia University.
Khalil, who is married to a US citizen, was seized from his home by immigration agents and taken to a detention center in Louisiana. Chung has been in the US since the age of seven.
Trump says confident of TikTok deal before deadline
- Chinese owner ByteDance to sell the popular short video app by April 5 or see it banned in the US
- US in talks with four groups interested in acquiring the platform, Trump said
WASHINGTON: President Donald Trump said Sunday he was confident of reaching a deal on TikTok ahead of the April 5 deadline for its Chinese owner ByteDance to sell the popular short video app or see it banned in the United States.
“We have a lot of potential buyers. There’s tremendous interest in TikTok,” Trump told reporters onboard Air Force One.
“We have a lot of people that want to buy TikTok. We’re dealing with China also on it, because they may have something to do with it,” he said, adding “I’d like to see TikTok remain alive.”
China on Thursday had rebuffed a suggestion from Trump that he might offer to reduce tariffs to get Beijing’s approval for the sale of TikTok to a non-Chinese firm.
Trump said this month the United States was in talks with four groups interested in acquiring the platform, which has 170 million American users.
A US law has ordered TikTok to divest from ByteDance or be banned in the United States, enacted over concerns that Beijing could exploit the app to spy on Americans or covertly influence US public opinion.
The law took effect on January 19, a day before Trump’s inauguration, but he quickly announced a delay that has allowed it to continue to operate.
That delay is set to expire on April 5.
“There’ll be a deal with TikTok, I’m pretty certain,” Trump said when asked if he would extend the deadline if there was no deal.
Trump attempted to ban TikTok in the United States because of national security concerns during his first stint in the White House but has warmed up to it.
“Selfishly speaking, I won the young vote by 36 points. Republicans generally don’t do very well with the young crowd, and I think a lot of it could have been TikTok,” he said.
Turkiye confirms Swedish journalist arrested amid protests
- The jailing of Medin came just hours after the authorities released the last of 11 journalists arrested in dawn raids on Monday for covering the protests
Istanbul: A Swedish journalist who was detained on his arrival in Turkiye to cover protests over the jailing of Istanbul’s mayor has been arrested on terror-related charges and for “insulting the president,” the Turkish presidency said Sunday.
Joakim Medin, who works for the Dagens ETC newspaper, “has been arrested on charges of ‘membership in an armed terrorist organization’ and ‘insulting the president’,” the presidency said.
Medin was detained on Thursday when his plane landed in Turkiye, and sent to prison the next day.
In a bulletin published by its “Disinformation Combat Center,” the presidency said Medin was “known for anti-Turkiye news and his closeness to the terrorist organization PKK,” the banned Kurdish militant group.
“This arrest decision has no connection whatsoever to journalistic activities,” it added.
The jailing of Medin came just hours after the authorities released the last of 11 journalists arrested in dawn raids on Monday for covering the protests, among them AFP photographer Yasin Akgul.
Turkish authorities have also deported BBC journalist Mark Lowen, who had been covering the protests, after holding him for 17 hours on Wednesday, saying he posed “a threat to public order,” the broadcaster said.
Turkiye’s communications directorate said Lowen had been deported “due to a lack of accreditation.”
Turkish prosecutors had already opened an investigation into Medin in 2023 over a demonstration he joined in Stockholm in which a puppet of President Recep Tayyip Erdogan was hung from its feet, according to the presidency’s statement Sunday.
It said the Swedish journalist was among 15 suspects believed to have carried out, organized or publicized the demonstration.
The protest infuriated Turkish authorities, who alleged it was orchestrated by PKK members and summoned Sweden’s ambassador to Ankara.
Academy apologizes after stars say it ‘failed to defend’ Palestinian filmmaker
- Hamdan Ballal was assaulted this week by settlers and detained at gunpoint by soldiers in the Israeli-occupied West Bank
- “No Other Land” chronicles the forced displacement of Palestinians by Israeli troops and settlers in Masafer Yatta in the West Bank
LOS ANGELES: The Academy of Motion Picture Arts and Sciences apologized Friday for failing to defend an Oscar-winning Palestinian filmmaker who said he was attacked by Israeli settlers.
The group, which hosts and awards the Oscars each year, wrote to members after movie stars including Joaquin Phoenix, Penelope Cruz and Richard Gere had slammed its initially muted response to the incident.
The Academy “condemns violence of this kind anywhere in the world” and its leaders “abhor the suppression of free speech under any circumstances,” said the letter, seen by AFP.
Hamdan Ballal co-directed “No Other Land,” which won best documentary at this year’s Academy Awards.
This week, he said he had been assaulted by settlers and detained at gunpoint by soldiers in the Israeli-occupied West Bank.
Unlike multiple other prominent filmmaker groups, the US-based Academy initially did not issue a statement.
On Wednesday, it sent a letter to members that condemned “harming or suppressing artists for their work or their viewpoints,” without naming Ballal.
By Friday morning, more than 600 Academy members had signed their own statement in response.
“It is indefensible for an organization to recognize a film with an award in the first week of March, and then fail to defend its filmmakers just a few weeks later,” the members said.
“We stand in condemnation of the brutal assault and unlawful detention of Oscar-winning Palestinian filmmaker Hamdan Ballal by settlers and Israeli forces in the West Bank,” they wrote.
The Academy leadership’s response “fell far short of the sentiments this moment calls for,” said the members.
The Los Angeles-based group’s board convened an extraordinary meeting Friday to confront the deepening crisis, according to trade outlet Deadline.
Later Friday, it issued an apology to Ballal “and all artists who felt unsupported by our previous statement.”
“We regret that we failed to directly acknowledge Mr. Ballal and the film by name,” it wrote.
“No Other Land” chronicles the forced displacement of Palestinians by Israeli troops and settlers in Masafer Yatta — an area Israel declared a restricted military zone in the 1980s.
Despite winning the coveted Oscar, the film has struggled to find a major US distributor.
Following Monday’s incident, Ballal told AFP the “brutality” of the attack “made me feel it was because I won the Oscar.”
During his detention at an Israeli military center, Ballal said he noticed soldiers mentioning his name alongside the word “Oscar” during shift changes.
He was released Tuesday, after being detained the previous day for allegedly “hurling rocks.”
Yuval Abraham, who also co-directed and appears in the documentary, has spoken out against the Academy’s response.
“After our criticism, the academy’s leaders sent out this email to members explaining their silence on Hamdan’s assault: they need to respect ‘unique viewpoints’,” he wrote on X, sharing a screenshot of the Academy’s letter.
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Warner Bros. Discovery investment in OSN Streaming signals broader industry shift, says CEO
- Middle East ‘no longer a peripheral market’ — Joe Kawkabani
DUBAI: Warner Bros. Discovery this week announced a minority investment in OSN Streaming in a move that “reinforces its commitment to the region’s rapidly growing streaming landscape.”
The deal is reportedly valued at $57 million for a third of OSN Streaming. It will take place in phases and is subject to customary conditions, including regulatory approvals.
Joe Kawkabani, OSN’s group CEO, said the deal “signals a broader shift in the industry” as global players recognize “that substantial growth in the Middle East and North Africa region requires more than just exporting content.”
He told Arab News: “It’s about investing in local platforms, collaborating with regional talent, and tailoring content specifically to the market. That’s precisely what we’re doing here, and I believe it sets a new standard for successful partnerships in the region.”
Warner Bros. Discovery opened its first office in the region in Dubai in 2012. The investment reflects its “prioritization of working with the best creative talent, advancing technologies and forging key partnerships to fuel continued growth.”
It also serves as an opportunity for the company to “deepen their regional presence through a trusted platform that truly understands the market's nuances,” Kawkabani said.
The two companies have had a long-standing history, with OSN being the exclusive home for HBO content in the region. Just last year, OSN acquired the rights to all first-run Max Originals and the full Warner Bros. Pictures feature film library as part of a multi-year deal.
Jamie Cooke, executive vice president and managing director for Central Europe, Turkey and Middle East, at Warner Bros. Discovery said this was a “natural step” for the company, as “OSN has been a great partner and custodian of our content.”
He added: “We recognize that alongside enjoying the latest global hits, regional audiences also want stories from and about the region that reflect their own cultures and experiences.”
Kawkabani highlighted the importance of the MENA market on the global map.
He said: “It is no longer a peripheral market — it’s becoming central to the future of streaming. Our role is to drive this transformation from within the region, not just import it from the outside.”
Saudi Arabia has emerged as a key player in the region’s media and entertainment industry. In 2018, the Kingdom announced it would invest $64 billion in its entertainment sector over the coming decade. Since then, it has implemented several initiatives and investments to bolster these sectors.
Most recently, in January, Saudi Arabia’s General Entertainment Authority unveiled 29 investment opportunities aimed at expanding the entertainment landscape while fostering private sector participation and aligning with Vision 2030 objectives.
Saudi Arabia is “one of the most exciting and dynamic entertainment markets in the world right now” and the deal “aligns seamlessly with Saudi Arabia’s broader vision for its entertainment sector — one that prioritizes creativity, local talent, and global collaboration,” said Kawkabani.
“We view Saudi Arabia not just as a key market but as a creative hub that can lead the region forward,” he added.
Going forward, the deal will see the two companies invest in “high-quality, locally produced content, ensuring a richer and more diverse offering for viewers,” according to Cooke.
For OSN, Kawkabani said it wasn’t just about content licensing or capital, but rather about “two companies aligning on a vision to sustainably grow the regional streaming market in a way that resonates locally.”
He added: “We’re not here to follow trends; we’re here to shape them.”
