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    Warner Bros. answers diversity call with directors program

    By SHOOTUpdated:No Comments1884 Views
    An undated photo, provided by Warner Bros., shows Kevin Tsujihara. (AP Photo/Warner Bros.)
    LOS ANGELES (AP) --

    Warner Bros. is answering calls to make Hollywood more diverse, launching a program where it will provide five up-and-coming directors from underrepresented groups with mentoring and around $100,000 to produce a short film to show to agents, producers and studio executives.

    Applications will be accepted some time before July with a nine-month fellowship beginning in the fall.

    Greg Silverman, Warner Bros.' president of worldwide production, says that while the studio hires diverse directors for its films, it needed to broaden the pool of talent coming into the Hollywood system.

    "It doesn't address the whole issue. But we think it's a real positive," he said.

    Warner Bros., a unit of Time Warner Inc., is the only major studio in Hollywood led by a person who is non-white, CEO Kevin Tsujihara.

    Tags:diversityKevin TsujiharaWarner Bros.



    DirecTV calls off acquisition of rival Dish, possibly ending a yearslong pursuit

    Friday, November 22, 2024
    Dish Network satellite dishes are shown at an apartment complex in Palo Alto, Calif., Feb. 23, 2011. (AP Photo/Paul Sakuma, File)

    DirecTV is calling off its planned acquisition of rival Dish after the offer was rejected by bond holders at that company.

    The deal was reliant on Dish bond holders agreeing to trade in the debt they held for debt in the new company, a swap that would have cost them about $1.6 billion, collectively.

    The retreat by DirecTV this week may end a years-long effort by the company to acquire both Dish and Sling after it announced the bid in September.

    DirecTV was looking to acquire Dish TV and Sling TV from its owner EchoStar in a debt exchange transaction that included a payment of $1, plus the assumption of approximately $9.8 billion in debt. The deal was contingent on several factors, including regulatory approvals and bondholders writing off debt related to Dish.

    "While we believed a combination of DirecTV and Dish would have benefited all stakeholders, we have terminated the transaction because the proposed exchange terms were necessary to protect DirecTV's balance sheet and our operational flexibility," DirecTV CEO Bill Morrow said in a statement.

    The prospect of a DirecTV-Dish combo has long been rumored, and reported talks resurfaced over the years. And the two almost merged more than two decades ago — but the Federal Communications Commission blocked the deal valued at the time at $18.5 billion deal, citing antitrust concerns.

    The pay-for-TV market has shifted significantly since. As more and more consumers tune into online streaming platforms, demand for more traditional satellite entertainment continues to shrink.

    DirecTV says that it will continue to invest in next-generation streaming platforms and offer new packaging options while integrating content from live TV alongside direct-to-consumer... Read More

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