Culver Max Entertainment, formerly known as Sony Pictures Networks India (SPNI), has terminated merger agreements with Zee Entertainment, which could have otherwise created a USD 10 billion media enterprise in the country.
Sony India on Thursday declared a 20 per cent sales growth for the year ended March 31, 2004, and said it plans to launch VAIO personal computers in India over the next few months.
Channel also acquires rights to Slumdog Millionnaire.
Zee Entertainment Enterprises Ltd on Wednesday said Culver Max Entertainment, formerly known as Sony Pictures Networks India, has agreed to discuss extending the date required to make their merger scheme effective, a day ahead of the deadline. A day after Sony Pictures Networks India (SPNI) stated that it has not yet agreed to a deadline extension requested by Zee Entertainment Enterprises Ltd (ZEEL) for their proposed $10-billion merger, the Subhash Chandra family-promoted media firm said it has received a communication from Sony group for discussing an extension of the deal which was announced almost two years ago.
At 8,700 screens, India, the world's largest film producing country, has just six screens for every million of its people, compared to 125 in the US and 30 in China. With Sitaare Zameen Par, Aamir Khan hopes to expand the market for Indian cinema.
All other channels on the Sony network -- MAX (Hindi movie channel), SAB (family entertainment), PIX (English movie), MIX (Hindi music), Aath (Bengali movie) and the recently launched SIX (sports) have a clear roadmap.
Multi Screen Media Private Limited ((earlier known as Sony Entertainment Television India), announced on Thursday that its chief executive officer, Kunal Dasgupta has quit quoting personal reasons. The announcement was made by SPTI's president, international networks, Andy Kaplan.
Zee Entertainment Enterprises Ltd (ZEEL) is seeking rapprochement with Sony Group as it makes a last-ditch effort to resurrect a $10 billion merger, according to industry sources. After the Japanese multinational firm pulled the plug on its $10 billion merger deal in January, the Indian company reached out again to Sony to reconsider the termination and offered for talks this month, a source said. On the other hand, Sony is understood to be evaluating the proposal from Zee.
The National Company Law Tribunal (NCLT) on Tuesday admitted a fresh petition filed by a Zee Entertainment Enterprises Ltd shareholder seeking enforcement of the now-cancelled merger deal between ZEEL and Sony. The Mumbai bench of NCLT also directed Sony Pictures Network India, now known as Culver Max, to file a reply within three weeks and fixed the next date of hearing on March 12. On January 21, Sony Group Corp (SGC), the Japanese parent company of Sony Picture Network India (SPNI) and BEPL, announced the termination of the $10 billion merger agreement with ZEEL, while seeking $90 million for breach of conditions besides initiating arbitration.
More screens, more films, and longer windows will convert to more people watching, assuming they know a film is releasing, points out Vanita Kohli-Khandekar.
The National Company Law Appellate Tribunal (NCLAT) has set aside the order of NCLT directing bourses NSE and BSE to reconsider their approval for the Zee-Sony merger. A two-member NCLAT bench has asked NCLT to consider the merger of Zee Entertainment with Culver Max Entertainment (earlier known as Sony Pictures Networks India) afresh, after hearing all the parties. The appellate tribunal order came on hearing the appeal filed by Zee Entertainment Enterprises Limited (ZEEL) against the order passed by the Mumbai bench of the National Company Law Tribunal (NCLT) on May 11, 2023.
'There is so much talk about Netflix and what they should be doing.' 'In two years, SonyLIV has done what Netflix should be doing.'
The National Company Law Tribunal (NCLT) has reserved its order on the merger of Zee Entertainment Enterprises and with Culver Max Entertainment (earlier known as Sony Pictures Networks India). The Mumbai bench of NCLT, comprising H V Subba Rao and Madhu Sinha, reserved the order on Monday, after hearing arguments from creditors who objected to the scheme including Axis Finance, JC Flower Asset Reconstruction Co, IDBI Bank, Imax Corp and IDBI Trusteeship. In December 2021, Zee Entertainment and Sony Pictures had agreed to merge their businesses.
The feud between Sony Entertainment Television (SET) and two of its minority stakeholders, who hold a combined 31.67 per cent stake, is finally ending. Both parties have decided to shake hands over paying additional capital demanded by Sony to repay a loan taken to finance its bid for the 2003 Cricket World Cup.
July has interesting OTT entertainment awaiting you.
A fresh row broke out over the issue of telecast rights of the Indian Premier League with Sony Entertainment dragging the Board of Control for Cricket in India to the Bombay High Court which restrained the Cricket Board from entering into any further agreement related to the Twenty20 tournament. Sony moved the High Court against BCCI's move to enter into a contract with World Sports Group after terminating its agreement with Sony on broadcasting rights in the country.
After three editions of the hugely-successful Kaun Banega Crorepati, Sony TV has bought the rights for the show this year.
Tarun Katial of Star Network has joined Sony Entertainment Television to oversee the channel's creative content, programming and on-air promotions.
'It was just one episode, and I did it for a very special person.'
Flush with cash from his wireless telephony company's sale, industrialist B K Modi is negotiating to acquire 39 per cent stake in Indian television company, Multi Screen Media, earlier known as Sony Entertainment Television. Modi, who was earlier eyeing the 32 per cent stake held by Indian shareholders, is now looking at acquiring an additional 7 per cent held by trusts. He is also planning to re-brand the television channel as Sony Spice TV.
The Indian cricket board's official Twenty20 League (IPL) has secured a 10-year rights contract worth more than $1 billion ahead of its launch in April, organisers said on Monday.
BBC to join OneAlliance platform, to outsource sales to MSM.
Sony Pictures Television, a wholly owned subsidiary of the US-based Sony Pictures Entertainment, has inked a deal with these shareholders to acquire 32 per cent stake for $271 million (about Rs 1,512 crore).
SPN had been seeking a higher share of revenue, which Tata Sky blamed for the breakdown in talks.
Black, White & Gray - Love Kills has a unique take on the standard murder mystery that may not be perfect but is very entertaining nonetheless, discovers Mayur Sanap.
Kaun Banega Crorepati-4 (KBC-4), hosted by Amitabh Bachchan, got an average TV rating of 5.5 in its final episode, according to data from TVR agency aMap. The closing episode had a peak rating of 7.4, it said. TVRs denote the percentage of viewers who watched the show for a stipulated period.
The consortium of Sony Entertainment Television and World Sports Group, which paid BCCI $60 million (Rs 240 crore) as the telecast rights fee for the first season of the Twenty 20 league has already recovered its money. Sony-WSG will together earn around Rs 380 crore (Rs 3.8 billion) worldwide from the league. Sony is confident of selling 11,800 seconds across 59 matches, at a premium. Vodafone, Godrej, Hyundai, Coca-Cola & Max New York and StanChart has already booked spots.
Sony TV has locked horns with production house Endemol over airing of Big Boss sequels. Sony maintains that it has the first refusal rights, as per the agreement between the two.
Sony has been given the satellite rights for the series for USD 11.5 million.
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