niftify.in

The Economic Times

Star claims $940 million damages from ZEE over failed deal

Star India, owned by Walt Disney, has sought $940 million in damages from Zee Entertainment for not honoring a $1.5 billion ICC TV rights deal. Zee refuted the claims and stated that arbitration is still in its initial stages. The matter will likely continue post Star's merger with Viacom18.

The Economic Times

Cabinet clears establishment of National Centre of Excellence for animation, VFX

The government in its statement on Wednesday said the AVGC-XR sector plays an indispensable role in the entire realm of media and entertainment including filmmaking, over the top (OTT) platforms, gaming, advertisements and several other areas including health, education and other social sectors.

The Economic Times

Cabinet approves setting up of National Centre of Excellence for Animation on lines of IITs, IIMs

The Union Cabinet has approved the establishment of the National Centre of Excellence for Animation, Visual Effects, Gaming, Comics and Extended Reality in Mumbai. This initiative aims to position India as a global content hub, enhance soft power, and attract foreign investments in the media and entertainment sector.

Business Standard

Zee Entertainment refutes $940 million damages claim by Disney's Star India

The dispute centres on an alliance agreement between Zee and Star India valued at $1.4 billion for the broadcasting rights for International Cricket Council (ICC) events

Business Standard

Bang Overseas Ltd leads losers in 'B' group

Renaissance Global Ltd, Ecos (India) Mobility & Hospitality Ltd, SpiceJet Ltd and Imagicaaworld Entertainment Ltd are among the other losers in the BSE's 'B' group today, 18 September 2024.

CNBC TV18

Zee Entertainment will contest ₹8,000 crore claims made by Star India; Shares fall

Zee Entertainment Enterprises has categorically refuted all claims and assertions made by Star India including its claims for damages.

The Economic Times

Star files Statement of Case in London court against ZEE, seeks $940 million in damages

Star India has filed a Statement of Case against Zee Entertainment, seeking $940 million in damages over a terminated ICC TV rights deal. Zee denies the allegations and plans to contest the claims. The arbitration is still in its early stages, with the LCIA Tribunal yet to determine Zee's liability.

The Economic Times

Network18's merger with TV18 and E18 gets NCLT approval

The move comes ahead of the merger of the India media businesses of RIL and Walt Disney to create the country's largest media and entertainment company, which recently got approvals of the Competition Commission of India (CCI) and NCLT. E18 and TV18 will be dissolved without winding up once their merger with Network18 gets the final approval from the Ministry of Information and Broadcasting (MIB).

The Economic Times

Buy PVR INOX, target price Rs 2065: Anand Rathi

PVR INOX Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 16583.95 Crore) operating in Media & Entertainment sector.

Business Standard

Indoor amusement centres may occupy 11 mn sq ft space by 2028: Report

The entertainment category is increasingly being integrated into initial mall design phases by developers

Business Standard

India audio device mkt sees remarkable growth, hits Rs 5,000 cr sales: GFK

The Indian audio devices market is experiencing "remarkable growth" as offline retail sales hit Rs 5,000 crore moving annual turnover (MAT) in June 2024, driven by a 61 per cent YoY volume growth in the Personal Audio segment, according to a report from GfK. Growth is driven by the rise in immersive sound technologies, enhanced consumer experiences, and a growing demand for high-quality audio products across both home and personal categories, it said. Moreover, a shift towards premiumisation in the category as consumers look towards superior quality and immersive audio experiences also aiding the Indian audio device market. Indian consumers have a "massive appetite" for audio devices and are seeking a cinematic experience and convenient listening. "With the evolving entertainment landscape, consumers increasingly seek premium, cinematic audio experiences, making the sector ripe for growth and revenue opportunities," said GFK, which is now an NIQ Company, a leading global market and

Business Standard

NCLT recalls order on Zee-Sony merger, allows withdrawal of scheme

The National Company Law Tribunal (NCLT) has allowed withdrawal of its order approving the merger of Zee Entertainment and Sony Pictures Networks India and recalled its earlier order passed in this regard. The Mumbai bench of the NCLT had last week recalled its order passed on August 10, 2023, in which it had approved the merger of Zee Entertainment with Sony Pictures Networks India. The bench observed the parties have "mutually consented" to withdraw the scheme on account of the settlement agreement and the board of directors has passed the resolutions to withdraw the scheme of amalgamation. "Accordingly, this Bench allows the withdrawal of the Scheme of Amalgamation and hereby recalls order dated 10.08.2023 in C.P.(CAA) No. 209 of 2022," said NCLT order, a copy of which was shared to bourses by Zee on Thursday. Zee, which applied for withdrawal, submitted the Composite Scheme of the Merger Cooperation Agreement executed to give effect to this scheme stands terminated and accordin

The Economic Times

Boeing strike: Negotiations to start next week as plane production hit

Talks between Boeing and striking US factory workers are due to resume early next week under a federal mediator, the government said Friday, after workers voted overwhelmingly to reject an earlier proposal from the embattled aviation giant. Thursday's vote was a decisive rejection of a deal line workers said was far less generous than depicted by Boeing executives, marking the latest show of defiance by unions following earlier major strikes in the auto and entertainment industries.

The Economic Times

NCLT withdraws nod given earlier for merger of Zee and Sony entities

The National Company Law Tribunal has withdrawn its approval for the merger between Zee Entertainment Enterprises and Sony Group Corporation's India media entities. The decision, made by the Mumbai bench on September 5, ends the proposed deal that could have created India's second-largest media company. Zee had sought to recall the earlier approval granted on August 10.

The Economic Times

Prime Video launches HITS as add-on subscription service

Prime Video has introduced Singapore-based Rewind Networks’ HITS as an add-on subscription in India for Rs 299 annually. HITS offers a range of iconic TV shows like Frasier, CSI, and Baywatch. Customers can enjoy scheduled linear viewing and catch-up options, enhancing their entertainment experience within a single app.

The Economic Times

What should one do in the crude-related counters? Sandip Sabharwal answers

Sandip Sabharwal discusses the subdued outlook for crude and oil prices due to excess capacity and upcoming LNG projects. He highlights the potential outperformance of defensive sectors like FMCG and pharma, while also noting the challenges faced by Zee Entertainment and private sector banks. Key beneficiaries of lower crude prices include aviation and auto companies.

CNBC TV18

Zee Entertainment withdraws merger with Culver Max and BEPL

Zee Entertainment Enterprises Ltd. (ZEEL) has officially withdrawn its composite scheme of arrangement with Culver Max Entertainment and Bangla Entertainment Private Limited (BEPL), following a settlement. The National Company Law Tribunal (NCLT) approved the withdrawal.

CNBC TV18

BLS International, SBI Cards, Puravankara, H G Infra, Tata Power, BPCL and more: Stocks to watch on September 13

stocks to watch, BLS International Services, SBI Cards, Puravankara, H G Infra, Tata Power, BPCL, SBI, stocks to watch, Patanjali Foods, Zee Entertainment, LIC and more, these are the stocks to watch for today.

Hindustan Times

Kakao Founder’s Trial Melds Kpop, Billionaires and Markets

The founder of Kakao is facing allegations of rigging prices during the takeover battle for K-pop powerhouse SM Entertainment. Here's what to know

The Economic Times

Balaji Telefilms invests ₹795 cr in its OTT Arm

Balaji Telefilms has invested Rs 795 crore in its OTT subsidiary ALT Digital Media Entertainment, which operates the ALTT streaming platform. The company also provided loans totaling Rs 103 crore. ALT Digital has reduced its EBITDA losses and ventured into advertising. Balaji Telefilms reported a 6% revenue increase for 2023-24, with net profit reaching Rs 19 crore.

The Economic Times

Festive spending to spur ad sales in 2nd half of 2024

Media agencies predict mid-to-high single digit ad revenue growth for the second half of 2024, driven by festive season spending. Brands are expected to spend nearly 50% to 55% of the annual ad expenditure during this period. The absence of major cricket events will benefit non-cricket entertainment properties.

The Economic Times

BookMyShow partners with IndiGo to grow footfalls for live events

BookMyShow has partnered with IndiGo to launch the ‘Runway to Party’ campaign, offering exclusive benefits for attendees of major music festivals. Festival-goers booking through BookMyShow will receive discounts on IndiGo flights and additional perks for Sunburn Goa 2024. This initiative aims to boost entertainment tourism and enhance consumer experience.

Business Standard

Ingka Centres to invest Rs 5,500 cr in India on 2nd meeting place at Noida

Ingka Centres, a part of Ingka Group that operates IKEA retail, will invest 607 million euros (about Rs 5,500 crore) to set up its second meeting place in India at Noida under the Lykli brand, taking its overall investment in the country to a 1 billion euros, according to the company's Global Expansion & Development Director Sebastian Hylving. It is betting big on the Indian market and is looking at expanding where IKEA plans to open its outlets in the country, although the opening of its first meeting place in Gurugram -- Lykli Gurugram -- has been pushed to 2026 from the originally planned opening in late 2025. The company on Monday unveiled the second IKEA-anchored meeting place in India at Noida which will offer a blend of retail, dining, hospitality, co-working spaces, entertainment, and cultural experiences tailored to the needs of modern urban residents. "It (Lykli Noida) is at an investment of 607 million euro...that investment is purely for the Noida project, and then we .

The Economic Times

Telangana signs MoU for establishment of World Trade Centre within its AI City

The campus will offer world-class office spaces, trade services, training facilities, retail and entertainment zones, co-living spaces, a luxury hotel, and primary healthcare facilities—all in line with the vision of Telangana’s leadership to develop an integrated mini smart city that embodies a "walk-to-work" concept.

Business Standard

Ultra Media announces Rs 500 cr investment, launches 2 OTT platforms

Ultra Media & Entertainment Group on Thursday announced a Rs 500 crore investment to drive its growth and expand the content portfolio. As part of the growth strategy, the content production and distribution group launched two new over-the-top (OTT) platforms, Ultra Play and Ultra Gaane, the company said in a statement. The Rs 500 crore "strategic financial commitment will support the launch and expansion of two OTT platforms Ultra Play and Ultra Gaane alongside enhancing the existing Marathi platform, Ultra Jhakaas", the statement said. "The investment is a key component of Ultra Media & Entertainment Group's five-year growth plan. The allocation includes Rs 250 crore dedicated to content acquisition, ensuring a robust and diverse library across all platforms," it added. An additional Rs 200 crore will fuel the production of new content, while Rs 50 crore is earmarked for marketing and technological advancements, further solidifying Ultra's position in the digital ...

The Economic Times

Zomato upsets BookMyShow-KKR deal; BigBasket's FY24 report

Zomato’s entry into the entertainment space has cast a cloud over KKR’s investment in BookMyShow. This and more in today’s ETtech Top 5.

Business Standard

Nazara Tech partners with Telangana govt for AI centre of excellence

Gaming and e-sports company Nazara Technologies has inked a pact with the government of Telangana to establish an AI centre of excellence (AI CoE) focused on gaming and digital entertainment, a release said on Thursday. The 'Nazara AI CoE' will focus on research, development, and innovation in areas such as gaming, interactive media, gamified learning, and other digital content, leveraging cutting-edge technologies like AI, VR/AR (virtual and augmented reality), blockchain, and Web 3.0. "Nazara Technologies has signed a landmark Memorandum of Understanding (MoU) with the Government of Telangana," the release by Nazara said. With the strategic partnership in place, Nazara aims to establish an AI centre of excellence focusing on gaming and digital entertainment, underlining the company's strengths in AI-driven gaming and digital entertainment space, and Telangana as a global hub for AI innovation. "Telangana's proactive approach in fostering industry growth through public-private ...

The Economic Times

Nazara Tech partners Telangana govt for AI centre of excellence

Nazara Technologies has partnered with the Telangana government to set up an AI centre of excellence focused on gaming and digital entertainment. The initiative will drive research, development, and innovation in areas like interactive media and gamified learning, leveraging technologies such as AI, VR/AR, blockchain, and Web 3.0.

The Economic Times

Snack brand 4700BC collaborates with Netflix to launch content-specific variants

Snacking brand 4700BC has partnered with Netflix to launch new popcorn variants in India. This collaboration aims to boost the popcorn category and enhance at-home entertainment. The products will be available on ecommerce platforms, retailers, and the brand’s website. The company expects to report significant revenue growth by March 2025.

The Economic Times

GTPL Hathway launches entertainment app GTPL Buzz

GTPL Hathway has launched the GTPL Buzz app, offering cloud gaming, live TV streaming, and international content channels. The app includes Blacknut Cloud Gaming's first commercial launch in India, with over 500 premium games. It also integrates Distro TV for a variety of global content and features an upgraded GIVA chatbot for customer support.

Business Line

Stocks that will see action today: September 4, 2024

Buzzing stocks: Raymond, IEX, GIC-RE, Utkarsha SFB, AU SFB, Rane Holdings, Finolex Cables, Cipla, Godrej Phillips, Zee Entertainment, NHPC, GSK Pharma

The Economic Times

Ultra Media to make substantial investments in OTT business

Ultra Media & Entertainment Group has launched two new OTT platforms, Ultra Play and Ultra Gaane, focusing on classic Hindi films and music. The company plans to invest Rs 500 crore over five years in these ventures. Subscription costs are Rs 199 per year or Rs 99 for three months.

CNBC TV18

Zee Entertainment granted 3-month extension for 42nd AGM

Shares of Zee Entertainment Enterprises Ltd ended at ₹136.95, down by ₹5.00, or 3.52% on the BSE.

The Economic Times

Essel chief Subhash Chandra says he'll take Madhabi Puri Buch to court

Subhash Chandra alleged that Sebi under Buch scuttled Zee's merger deal with Sony Pictures Networks India through its "motivated investigation" against him and his son Punit Goenka, managing director and chief executive of Zee Entertainment. He noted that Sebi's confirmatory order banning Goenka from holding a top-level position in any listed entity was overturned by the Securities Appellate Tribunal.

Business Line

Zee founder Subhash Chandra says he will not co-operate with SEBI, accuses chairperson of bias

Zee Entertainment founder Subhash Chandra refuses to cooperate with SEBI probe, accuses chairperson of corruption and bias

The Economic Times

Air India's A350-900 debuts on Delhi-London route: Explore new luxuries, features & amenities

Air India’s new A350-900, launched for the Delhi-London route, features upgraded cabins, advanced inflight entertainment, and enhanced comfort for passengers.

The Economic Times

ZEEL appoints Shiva Chinnasamy as Chief Technology and Product Officer

Zee Entertainment Enterprises Limited has appointed Shiva Chinnasamy as the new Chief Technology and Product Officer. He will be based in Bengaluru, focusing on data, AI, and machine learning to enhance consumer experience. With over 20 years of experience, Chinnasamy aims to support the company's growth and innovation goals.

The Economic Times

ICICI Prudential MF pares down stake in Zee Entertainment

ICICI Prudential Mutual Fund has reduced its stake in Zee Entertainment Enterprises by selling 12,66,929 shares, bringing its total stake down to 3.05% from 5.08% since January. The sale coincides with Zee resolving merger disputes with Sony Pictures Networks India. Zee's share price closed at Rs 140.80, down 1.05%.

The Economic Times

Zee files application seeking recall of NCLT order sanctioning merger with Sony

Zee Entertainment has filed an application with the NCLT to recall the order sanctioning its merger with Sony's India media units. Zee and Sony announced a comprehensive settlement, resolving all disputes related to their failed merger.

Business Standard

NCLT approves merger of Reliance-owned Viacom18 Media with Star India

The NCLT on Friday approved the scheme of merger of Reliance Industries-owned Viacom 18 Media -- the holding company of the group's media and entertainment assets -- with Star India. A two-member bench of the National Company Law Tribunal (NCLT) approved the composite Scheme of Arrangement among Viacom 18, Digital18 and Star India, a unit of global media giant The Walt-Disney. The development comes two days after the Competition Commission of India approved the merger of media assets of Reliance Industries and The Walt Disney Co to create the country's largest media empire worth over Rs 70,000 crore. Approving it, the NCLT observed: "From the material on record, the Scheme appears to be fair and reasonable and is not violative of any provisions of law and is not contrary to public policy". The NCLT in its 22-page-long order also observed that the scheme "will be made effective, in terms of the Scheme, only upon the receipt of the approval of the Competition Commission of India". T