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.
'It was just one episode, and I did it for a very special person.'
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.
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).
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 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.
SPN had been seeking a higher share of revenue, which Tata Sky blamed for the breakdown in talks.
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.
'There'll be extended periods where things aren't working in your favour. But if you believe in the cause profoundly, then you simply persevere.'
From serial killers to genies, interesting content ready to entertain you and satisfy your inner cinephile.
October looks bright with a lot of festive season releases on OTT.
Reliance-Anil Dhirubhai Ambani Group-controlled BIG TV has withdrawn from partnering the Indian Premier League, alleging discrimination by the league's broadcast rights-holder Sony Entertainment Television.BIG TV has communicated its decision to IPL CEO Sundar Raman, alleging that SET has decided to offer the contract to competitor Airtel DTH, though it quoted a lower price for on-air partnership, sources said. When contacted, a BIG TV spokesperson declined to comment.
Sony Entertainment Television, which recently bagged the telecast rights of the Indian Premier League, hopes to earn over Rs 300 crore (Rs 3 billion) as advertising revenue in the first season of the Board of Control for Cricket in India-promoted Twenty20 tournament.
The Competition Commission of India on Tuesday approved with certain conditions the mega-merger deal between media groups Sony and Zee. In a tweet, the watchdog said it has cleared the deal with certain modifications. The proposed merger was announced in September last year. CCI said it has approved the "amalgamation of Zee Entertainment Enterprises Limited (ZEE) and Bangla Entertainment Private Limited (BEPL) with Culver Max Entertainment Private Limited (CME), with certain modifications".
Mukesh Ambani's Antilia includes a private theatre that seats over 50, a snow room, and even an ice cream parlour. If that's not redefining home entertainment, what is?
Please continue to e-mail your pictures to getahead@rediff.co.in (My Lord Ganesha Pix) with your name, location and details about your Lord Ganesha and we will publish the best photographs on Rediff.
'I have been in love where I had no identity of my own. I had also broken up because I was strong-headed in the relationship.'
