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Welcome to Two The Point, your weekly briefing on Asia’s entertainment business with Janine Stein and Patrick Frater. This week, we break down the biggest global media story of the moment — Paramount’s likely acquisition of Warner Bros — and what it actually means for Asia. We also talk about festival politics and China’s box office muscle, and other forces shaping Asia’s screen industry. 🎬 The Deal: Paramount + Warner – What Happens in Asia? We split the implications across film, TV distribution, channels and streaming: Will theatrical distribution networks in Southeast Asia be reshuffled? And what happens to legacy structures like United International Pictures (UIP)? Role duplication, TV programme distribution and job losses Will HBO Max, Paramount+, and existing output deals in India and Japan be affected? We also look at why Asian producers may be the unexpected winners — especially as Netflix doubles down on regional production while rivals struggle to rebuild trust. 🎥 Berlin Film Festival: Asian Presence, Political Firestorm Asia was strongly represented at the Berlin International Film Festival — but left largely empty-handed on the awards front. We discuss: The wins: Michelle Yeoh’s honorary Golden Bear The disappointments: Why Asia missed out on major prizes The growing political tensions at major festivals and whether Asian film festivals will face similar pressures 🎟 China Box Office: Still a Billion-Dollar Story Despite softer comparisons to last year’s record-breaking numbers, China’s Lunar New Year box office has already crossed US$1 billion in under two weeks. We analyse: The runaway success of "Pegasus 3" Strong showings from "Blades of the Guardians" and Zhang Yimou’s "Scare Out" Why IMAX is one of the big financial winners What this means for Chinese cinemas after a rocky period 📊 And in other wins Across Asia... A Filipino theatrical hit breaking into Netflix’s global non-English Top 10 Movie Charts Media Prima Malaysia’s content sales surge iQIYI’s financial pressures — and its bold experiments in vertical video and theme parks The rise of revenue-share distribution partnerships across Southeast Asia 🔔 Subscribe for weekly briefings on Asia’s entertainment economy.