Apollo Global Management Also Looking To Acquire Paramount Global

Private equity firm Apollo Global Management has “reached out” to Paramount Global about a possible buyout or purchase of some of its holdings, Axios reported Tuesday.


The company faces competition, including a bid from Byron Allen, who in January offered to buy Paramount Global for $14 billion. The entertainment conglomerate’s parent, National Amusements, has also gotten an offer from David Ellison’s Skydance Media in a bid that was backed by rival private equity firms RedBird Capital Partners and KKR.


Warner Bros. Discovery also reportedly considered buying some or all of the entertainment conglomerate’s assets, but backed off last month.


The report said Apollo is looking at a deal only with Paramount, which would involve Paramount Pictures, the CBS network, along with Comedy Central, BET and other Viacom cable networks and the streaming services Paramount+ and PlutoTV.


“It’s also possible that Apollo could wind up bidding only on select assets,” Axios reported, citing two sources familiar with the matter.


Shares of Paramount Global initially jumped about 5% on the report, but the gains quickly disappeared. The stock was trading down 5 cents to 11.57, down nearly 20% since the start of the year, in late morning.


Apollo has long invested in news and entertainment companies, including purchasing “American Idol” owner CKx in 2011. It also has or previously held interests in Barnes & Noble, Cox Media Group, Legendary Entertainment, Redbox, Sirius Satellite Radio. It also bought Yahoo Inc. from Verizon in 2021.

DreamWorks Animation Rumoured To Be "Undergoing Further Restructure" As It Closes TV Division

DreamWorks Animation Television is a American based production company operated by NBCUniversal that distributes various animated titles. It is home to award winning productions such as Shrek, The Croods, How To Train Your Dragon and Boss Baby.

Accompanied by this, DreamWorks Animation Television operated several 24 hour channels across the world including Universal Kids (US), Sky Kids (UK) and DreamWorks Channel (Europe, Asia and Africa).

Following last year's dismal performance at the global box-office, it was announced that the brand would "no longer be producing films independently". By 2025, two upcoming films are said to headed by Imagework known for Hotel Transylvania and Spiderverse.

At the time fear lurked around the move away from in-house production with mass layoffs likely on the cards and downsizing of new content in the coming years.

In an interview with Kung Fu Panda co-director, it was revealed that most if not all TV divisons headed by DreamWorks Animation Television had been dissolved with the company reportedly wrapping up some "final projects" likely The Wild Robot.

It is currently unknown what fate may await short form projects like Megamind Rules and Jurassic World: Chaos Theory. Considering that the latter was based on existing IPs its likely that these will remain operational for the time being if not scrapped.

But considering the current state of DreamWorks Animation Television, we may be seeing less content of this stature going forward. Of course, the company had produced various content outside existing IPs such as Fright Krewe, Curses! and The Mighty Ones.

This had been more noticeable mainly through their preschool counterpart DreamWorks Jr., home to shows like Gabby's Dollhouse, Pinecone & Pony, Doug Unplugs and Rhyme Time Town.


Elon Musk To Launch New Rival Platform For YouTube Through X

Long-form videos will soon be available on smart televisions, billionaire Elon Musk said, after Fortune magazine reported that social network X planned to launch this week with a TV app for Amazon and Samsung users.

The platform rolled out an early version of video and audio calling for some users last October, after Musk had said he planned to turn it into a “super-app” offering services from messaging to peer-to-peer payments.

“Coming soon,” Musk said in a brief response on X to a user’s posting that the platform’s long-form videos could be watched directly on smart TVs.

Earlier, Fortune said the app could look similar to the TV app offered by Google’s YouTube. It cited an unidentified source as saying Musk was set on competing with YouTube. X did not immediately respond to a request for further details on the app.

In the push to become a “video-first platform”, X has been forging partnerships with the likes of former Fox commentator Tucker Carlson and former CNN anchor Don Lemon.

The platform, which has struggled to retain advertisers amid controversies ever since Musk bought it in 2022, said last month it would enable advertisers to run video ads next to certain content creators.  

Press Release: Breaking News From Monstropolis: Original Series 'Monsters At Work' To Premiere On Disney Channel Across Africa From Monday, 25 March

The Walt Disney Company Africa today announced the highly anticipated animated series "Monsters at Work" will premiere across Africa on Disney Channel, DStv Channel 303, from Monday 25 March at 15:15 CAT.

 

"Monsters At Work" takes place the day after the Monsters, Incorporated power plant started harvesting the laughter of children to fuel the city of Monstropolis, thanks to Mike and Sulley's discovery that laughter generates ten times more energy than screams. It follows the story of Tylor Tuskmon, an eager young monster who graduated top of his class at Monsters University and always dreamed of becoming a Scarer until he lands a job at Monsters, Incorporated, and discovers that scaring is out, and laughter is in. After Tylor is temporarily reassigned to the Monsters, Inc. Facilities Team (MIFT), he must work alongside a misfit bunch of mechanics while setting his sights on becoming a Jokester.

 

Produced by Disney Television Animation and inspired by the world of Disney and Pixar's Academy Award-winning "Monsters, Inc.," the series introduces new monster characters alongside returning favourites. Ben Feldman stars as the voice of Tylor Tuskmon, alongside other new cast members including Mindy Kaling as Val Little, Henry Winkler as Fritz, Lucas Neff as Duncan and Alanna Ubach as Cutter. Billy Crystal and John Goodman reprise their beloved roles as Mike Wazowski and James P. "Sulley" Sullivan.

 

Season 2 of the series will premiere on both Disney Channel and Disney+ later this year and sees a stellar cast of new voice actors joining the series, including Aubrey Plaza, Nathan Fillion and Bobby Moynihan.

 

Tune in to Disney Channel, DStv channel 303 on Monday, 25 March at 15:15 CAT for the series premiere.

 

Recap To The Decade: The Mysterious Disappearance Of Flight MH370

Malaysia's government has said it may authorize a new hunt for the missing Malaysia Airlines flight 370 a decade after the plane and all 239 passengers and crew on board disappeared on March 8, 2014. What happened to MH370 after it departed Kuala Lumpur, Malaysia, en route to Beijing remains one of aviation's biggest mysteries.

Texas-based marine robotics company Ocean Infinity, which tried previously to find the plane, has proposed launching a new search, and Malaysia's transport ministry said it would consider the proposal.

The pilot sent a normal sounding radio call as the plane left Malaysian airspace, but he never checked in with Vietnamese air traffic controllers upon entering that country's airspace as he should have done.

MH370 timeline, from takeoff to final satellite signal

About two minutes after the last radio correspondence, MH370's transponder — a standard piece of equipment on all commercial aircraft that routinely relays a plane's position to air traffic control authorities — turned off, making the jet invisible to civilian radar systems.

Military radar and satellites showed that MH370 then turned around to travel over the Andaman Sea back toward Malaysia, flying for hours before it vanished, possibly when it ran out of fuel.

Malaysia's prime minister said 17 days after the plane disappeared that, based on the satellite data, his government had concluded that the plane crashed down in a remote corner of the Indian Ocean, and that there were no survivors.

Who was on Malaysia Airlines flight MH370?

There were 227 passengers and 12 crew members on board flight MH370, including three Americans as well as people from China, Indonesia, Russia and France.

Among them was a celebrated group of 24 Chinese calligraphy artists coming from an exhibition of their work. Two young Iranian men on the plane, 18-year-old Pouria Nour Mohammad Mehrdad and 29-year-old Delavar Seyed Mohammadreza, were traveling on stolen passports to seek better lives in Europe.

Two of the U.S. citizens on the plane were young children, Nicole Meng, 4, and 2-year-old Yan Zhang.

Philip Wood was the only American adult on the flight. The IBM executive had been living in Beijing and was planning to relocate to the Malaysian capital with his girlfriend, Sarah Bajc.  

Is there still an ongoing search for flight MH370?

When MH370 disappeared, an international search effort involving dozens of ships and aircraft was mobilized to scour the South China Sea and southern Indian Ocean. Australia, Malaysia and China then conducted a huge underwater search operation, covering around 46,000 square miles with sonar, submarines and aircraft. 

In July 2015, an airplane fragment later confirmed to be a flaperon from MH370 was found washed ashore on the western Indian Ocean island of Reunion. It was the first hard evidence that the plane had gone down in the area. More debris was later found washed up on the coast of eastern Africa.

But after no more results, all formal search efforts were suspended in 2017.

In 2018, Ocean Infinity launched its own hunt for MH370 north of the initial search area, as part of a "no find, no fee" deal with Malaysia, but that search was called off after a few months.

What comes next?

Ocean Infinity recently suggested it could resume the "no find, no fee" search for MH370, though Malaysia has said it will only do so if there is credible new evidence of where it might be located.

Malaysian Transport Minister Anthony Loke said he was open to being briefed on Ocean Infinity's proposal, and if there is credible new evidence to work with, he said he would seek government approval to resume the search.

"The government is steadfast in our resolve to locate MH370," Loke said at a memorial event for MH370. "We really hope the search can find the plane and provide truth to the next-of-kin."

Malaysian Prime Minister Anway Ibrahim echoed the sentiment on Monday.

"We have taken the position that if there is a compelling case, evidence that it needs to be re-opened, we're certainly happy to re-open," Ibrahim told journalists. "Whatever needs to be done must be done."

What are some of the leading theories on what happened to MH370?

No conclusive evidence has been found to support a specific cause of the plane's disappearance. However, various theories have been proposed and investigated in the years since.

One theory is that the captain or another crew member deliberately crashed the plane in an act of mass murder-suicide. Authorities reviewed the crew's financial records and tracked the pilots' activity leading up to the flight using security camera video and found "no significant" behavioral changes and no evidence of financial trouble, according to a 2015 report from Malaysia.

A 2016 report in New York magazine revealed that authorities had found the pilot used his home flight simulator to do a simulated flight that was similar to the path MH370 is believed to have taken before it disappeared. Hishammuddin Hussein, Malaysia's acting transport minister in 2014, said there was "nothing sinister from the simulators," according to the BBC.

Malaysian Prime Minister Najib Razak said in 2014 that both the radar transponders and flight data transmission system had been deliberately turned off by someone on the flight in an attempt to hide the plane's location, according to a report in New Scientist. This has led some to speculate the plane may have been hijacked.

Several passengers were investigated as possible perpetrators of a hijacking, including the two men who had been traveling using fake passports. No evidence was ever found linking any passengers to the plane's disappearance, and authorities concluded that the two Iranian men had been seeking asylum.

Credits: Hailey Ott, CBS News

Adult Swim Games Titles Are Being Pulled From Stores By Warner Bros.

Warner Bros. Discovery has begun the process of delisting video games from digital stores that have been published under the Adult Swim Games label, as reported by Game Developer. Adult Swim Games has been inactive for a few years now, but the publisher’s games are still available on platforms like Steam and the PS Store under the label.

However, solo developer Fire Face Corporation, who made the puzzle game Small Radios Big Televisions published by Adult Swim Games, has now been informed that the publisher’s owner, Warner Bros. Discovery, would be “retiring” the game and it would be delisted in 60 days. Fire Face reacted by making the game available for free on their own website.

Speaking to Games Developer, Owen Deery – the man behind Fire Face – called the decision by WBD “depressing,” but said he “can see why they did it.” As reported by the site, which saw the notice sent to Deery, WBD explained the delisting with “internal business changes” without going into much detail.

Since then, another indie developer who had worked with Adult Swim Games in the past got the same notice about their title, Fist Puncher. Matt Kain Lewandowski, one half of the brother duo making up Team2Bit, wrote in a forum post that WBD declined to transfer ownership of the title’s Steam page to their own publisher account so the game could stay visible on the store.

“This is incredibly disappointing,” he stated. “It seems like more and more the videogame industry is filled with people that don't like and don't care about videogames. All that to say, buy physical games, make back-ups, help preserve our awesome industry and art form.”

It seems likely that other Adult Swim Games-published titles will suffer the same fate, although no additional developers have come forward with similar announcements yet.

Warner Bros. Discovery published the best-selling game of 2023 with Hogwarts Legacy as well as one of 2024’s biggest flops so far in Suicide Squad: Kill the Justice League. This setback had one executive describe the video game industry as “volatile” and call for a strategy change.