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The Economic Times

Asian Cricket Council faces a tough media rights test

The Asian Cricket Council's media rights sale for the 2024-31 cycle will be a significant event, with a base price set at $170 million. Major players like Star India, Viacom18, Sony Pictures Networks India, Zee Entertainment, and FanCode are expected to participate. The auction comes amid industry consolidation and budget constraints due to previous commitments to other cricket properties.

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 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

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

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.

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

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

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

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

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.

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

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

The Economic Times

Hurun India Rich List 2024: Gautam Adani tops India’s rich list

​​Film star Shah Rukh Khan made his debut on the Hurun India Rich list with a wealth of Rs 7,300 crore, fuelled by his stakes in Kolkata Knight Riders and Red Chillies Entertainment Juhi Chawla and family (Rs 4,600 crore), Hrithik Roshan (Rs 2,000 crore), Karan Johar (Rs 1,400 crore), and Amitabh Bachchan (Rs 1,600 crore) are among the others from the film industry.

The Economic Times

JioCinema crossed 15 million subscribers in 100 days: Mukesh Ambani

JioCinema’s premium service, launched at introductory rates, has reached 15 million paying subscribers in 100 days, marking rapid growth in the streaming sector. Offering a range of content, the service has also boosted Reliance Industries' entertainment revenue significantly. The Chairman, Mukesh Ambani, hailed this as part of the company's broader media growth strategy.

Mint

Prime Video’s Vivek Srivastava set to join JioCinema

Prior to his stint at Amazon, Srivastava held key positions at various media companies, including as president of digital and broadcast at Times Network, and as head of digital and commercial at Colors, Viacom18. At JioCinema, he will report to Alok Jain, president, general entertainment, Viacom18.

Business Standard

Deal with Disney marks new era in entertainment industry: Mukesh Ambani

A day after anti-trust regulator CCI greenlit the mega merger of media assets of RIL and Walt Disney, Reliance Chairman Mukesh Ambani on Thursday said the deal marks the beginning of a new era in India's entertainment industry. Welcoming Disney to the Reliance family, Ambani said just like Jio and the Retail business, the expanded media business will be an invaluable growth centre in the Reliance ecosystem. "Let us now talk about our partnership with Disney. This marks the beginning of a new era in India's entertainment industry. We are combining content creation with digital streaming," he said at the RIL AGM. On Wednesday, 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. Reliance, through holding firm Network 18, owns TV18 news channels as well as a plethora of entertainment (under the 'Colors' brand) and sports channels. "We will provide ...

The Economic Times

F&O outliers: September seasonality weighs on ICICI Bank, Adani Ports, TVS Motors, 7 others. Here's why

Over the last decade, five F&O stocks showed positive seasonality in September with average returns over 5%, including TVS Motor, Deepak Nitrite, Abbott India, Escorts Kubota, and Zee Entertainment. Conversely, ICICI Bank, APSEZ, SBI, Cummins India, and Dabur India had negative seasonality, with average losses of 2% or more.

Business Line

Broker’s call: Zee Entertainment (Reduce)

Emkay Global

Mint

'Beginning of new era': Mukesh Ambani welcomes Disney at RIL AGM 2024, says, 'just like Jio in retail, our expanded...'

Reliance Industries (RIL) Chairman Mukesh Ambani welcomes Disney into the business family at the company's annual general meeting (AMG) on August 29, and says this entrance marks the beginning of a new era in India's entertainment industry.

The Economic Times

2024 Hurun List: Shah Rukh Khan, Juhi Chawla among Bollywood's wealthiest

Bollywood stars shine as key wealth creators in the 2024 Hurun India Rich List. Bollywood icon Shah Rukh Khan, revered as the 'King of the Indian Entertainment Industry,' makes his first appearance on the 2024 Hurun India Rich List.

The Economic Times

Shah Rukh Khan makes his debut on Hurun India Rich List: See how much wealth Bollywood's Badshah has

Shah Rukh Khan on Hurun Rich list 2024: Bollywood superstar Shah Rukh Khan has debuted on the 2024 Hurun India Rich List with an estimated wealth of Rs 7,300 crore. At 58, his financial success stems from stakes in Kolkata Knight Riders and Red Chillies Entertainment, indicating his substantial achievements beyond acting.

The Economic Times

Reliance Industries and Walt Disney merger approved by Competition Commission of India

The Competition Commission of India (CCI) has approved the merger between Reliance Industries-promoted Viacom18 and Walt Disney-owned Star India. This merger is set to create India's largest media and entertainment firm. Integration will start soon, with Reliance holding a 56% stake, while Disney and Bodhi Tree Systems will own 37% and 7%, respectively.