This deal will make Music Broadcast, which currently operates 39 channels, the largest private FM Channel operator.
The Enforcement Directorate (ED) on Saturday said it has detected alleged irregularities after it conducted raids in a money laundering case to probe 'black marketing' of tickets for two 'highly anticipated' music concerts by British rock band Coldplay and actor-singer Diljit Dosanjh.
After a sharp outperformance in the mid-and small-cap segments in the first half of calendar year 2023 (H1-CY23), analysts are now turning cautious on these two market segments and suggest investors stay selective and look for valuation comfort and earnings visibility before investing. The S&P BSE Midcap index has surged 13.7 per cent in H1-CY23, and the S&P BSE Small-cap index gained 12.7 per cent during this period, data shows. The S&P BSE Sensex, in comparison, has moved up 6.4 per cent.
ZEE Entertainment Enterprises Ltd on Friday said its MD & CEO Punit Goenka has initiated a process of rationalisation of workforce by 15 per cent to prune staff strength across the company. In a regulatory filing, ZEE Entertainment Enterprises Ltd (ZEEL) said Goenka has proposed a lean organisation structure to the board with a lateral structure while identifying broadcast, digital, movies and music as core business units. "In line with his overall strategic approach, the MD & CEO has initiated the process of rationalisation of the workforce by 15 per cent, that will prune the staff strength across the company to arrive at a streamlined team that is sharply focused on the set goals for the future," the company said.
These firms are Avenue Supermarts, owner and operator of supermarket retail chain D-Mart; Music Broadcast Ltd, a Jagran group firm that runs Radio City FM channel; Shankara Building Product; BSE-promoted CDSL; and test-prep player C L Educate.
Radio City 91 FM, an FM radio station jointly promoted by Music Broadcast Private Ltd and STAR TV, hopes to break even in next two years time, provided there is a slash in the FM radio broadcaster licensing fee.
The opening up of the sector has led to investments of Rs 1,200 crore towards the acquisition of over 280 frequencies.
The DCA is still examining the matter of alleged violation of terms and conditions of license agreement by P K Mittal group company Music Broadcast Pvt Ltd and has not conveyed any decision to the government as yet on the issue.
Bullish on the private FM radio business, Rupert Murdoch's Star group will pick up 20 per cent equity in radio company Music Broadcast Pvt Ltd.
Could it be about clout? Given its size and influence, RIL doesn't need the media for that, notes Vanita Kohli-Khandekhar.
Its order also includes a direction for the channel to broadcast a statement of Ofcom's findings on a date and in a form to be determined by the watchdog and also for KTV not to repeat the music video or the discussion programme found in breach of its rules.
The communications regulator said the 95-minute live discussion programme included material likely to 'incite violence.'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The proposals were considered by the Foreign Investment Promotion Board at its meeting held on July 4.
Anil Ambani-led Reliance Broadcast Network Ltd (RBNL) today announced its foray into the regional television space with the launch of its Hindi entertainment channel - Big Magic. The channel, which will be targeted at the core Hindi heartland, will be launched on April 4.
Indrani Mukerjea was the founder and chief executive officer while Peter Mukerjea was chairman and chief strategy officer. They set up INX Media three years ago after Mukerjea resigned as Star India CEO. According to a press release issued by the company, they will continue to be shareholders in the broadcasting company.
Buoyed by Sooryavanshi's success, the Hindi film industry is banking on 25-30 big movies lined up with a collective cost tag of Rs 2,000 crore.
The Supreme Court has dismissed the appeal of ACC Cement, ruling that if a product is manufactured by one firm and sold by another with the latter's brand name, that sale would attract sales tax, not the first transaction.
SFIO tried to sift through changed names, cross-holdings in INX Group
The advance booking of Salman Khan's eagerly awaited film Jai Ho have started and although the sentiment regarding the movie is buoyant in markets such as Uttar Pradesh, metros such as Delhi and Mumbai have shown a softer response than usual.
Over a third of Ambani's speech was focussed on RIL's plans.
'Amitabh Bachchan told me, "I don't appreciate other people doing my voice".'
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