Sony Picture Network India (SPNI) management is committed to long-term growth in India and the company will actively explore new organic and inorganic possibilities to strengthen its presence in the country, company managing director and CEO, NP Singh told employees. In a letter, two-days after the calling off of the $10 billion merger deal with Zee Entertainment, he asked employees to focus on current projects, with an immediate goal to unleash the company's full potential, continuing to craft content that not only engages audiences but also boosts subscriber growth and revenues. "As we close the chapter on our proposed merger with ZEEL (Zee Entertainment Enterprises Ltd), I want to take a moment to talk to you - not just as your CEO but as someone who has been on this journey with you.
Chennai-based photographer Ramya Sriram explains how she captured the fiery and hypnotic Theyyam image that won her the National Geographic India Contest
A social organisation in Indore, Madhya Pradesh, staged a controversial protest during 'Holika Dahan', burning pictures of 11 women accused of murdering children, prompting a police investigation.
Parineeti Chopra offers a peek into the nursery she and Raghav Chadha have lovingly designed for their son, Neer.
Both our families believe firmly in astrology and matching gunas (compatibility attributes). That day, for some strange reason, no one from either family mentioned the janam kundli milan (matching of horoscopes), says Rediff reader Mukesh Soni.
Today, Sony has 124 channel feeds in 160 countries.
A key blow for JioStar came from an unlikely source: The Indian government's ban on real-money gaming, the sector that had become cricket's biggest advertiser.
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).
'If we don't become part of this, if we don't embrace this particular technology, millionaire brands might go down, which we cannot allow.'
It was a merry evening at Mumbai's iconic Prithvi Theatre, which is celebrating its 47th year with a 17-day theatre festival.
The Internet is abuzz with visuals of Hrithik Roshan and his teenage sons, Hridaan and Hrehaan, dancing in perfect sync at a family wedding.
From decorating Christmas trees to hosting parties, celebrities are embracing the holiday season. And the best part is, it's just getting started!
Sunny Deol hosted a special screening for Ikkis, his father Dharmendra's last film, on Monday.
The Critics Choice Awards was held at the Barker Hangar in Santa Monica and saw Hollywood's A-listers get honoured at the first awards ceremony of the year.
Shiv Sena (UBT) leader Priyanka Chaturvedi on Wednesday alluded to private companies promoting patriotism on one side while profiting off the India-Pakistan cricket matches, as the Army's Colonel Sofiya Qureshi and Air Force's Wing Commander Vyomika Singh are set to appear on an episode of Kaun Banega Crorepati (KBC).
ZEE Entertainment Enterprises Ltd (ZEEL) and Sony Pictures Networks India on Tuesday said they have settled their six-month-long dispute related to the failed $10-billion merger and have agreed to withdraw all claims against each other. As part of the "comprehensive non-cash settlement" between ZEEL and Culver Max Entertainment Pvt Ltd (CMEPL), both "have mutually agreed to withdraw all respective claims against each other, in the ongoing arbitration at the SIAC and all related legal proceedings initiated in the NCLT and other forums," said a joint statement.
The fate of the $10 billion merger between Zee Entertainment Enterprises and Culver Max Entertainment, formerly Sony Pictures Networks India, is hanging by a thread, with the two parties unable to finalise an agreement as the end of the one-month grace period looms. The two parties are yet to come to an agreement over Zee Entertainment Enterprises Ltd (ZEEL) MD and CEO Punit Goenka leading the merged entity after Sony expressed concerns after market regulator Sebi barred him from holding managerial posts in Zee and any of the entities in a fund-diversion case.
Pakistan's reported threat to pull out from the ongoing Asia Cup after demanding ICC match referee Andy Pycroft's removal won't be particularly easy
As Vikram Phadnis' celebrated 35 years in fashion and cinema, these couples added a touch of romance on the red carpet.
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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.
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.
Two days after the termination of the merger agreement by Sony Group, Zee Entertainment on Wednesday hit back by filing a petition before the National Company Law Tribunal (NCLT), seeking a direction to implement the merger scheme. Besides, it has also initiated appropriate legal actions to contest the claims of $90 million (Rs 748.5 crore) filed by Sony Group before the Singapore International Arbitration Centre (SIAC), according to a regulatory update by Zee Entertainment Enterprise Ltd (ZEEL).
Days before Sony Group pulled the plug on the $10 billion deal, Zee group founder Subhash Chandra had written to Finance Minister Nirmala Sitharaman, blaming Sebi for trying to "scuttle" the merger of its flagship media firm Zee Entertainment Enterprise with the Japanese firm and subsequent investment in the merged entity. Alleging market regulator Sebi is "acting with a predetermined mind", the Zee group patriarch requested the finance minister to take the necessary steps "to safeguard the interest of the minority shareholders of Zee". Chandra in his letter dated January 16, seen by PTI, said Zee and all other people have been cooperating in the investigation related to the alleged fund diversion by promoters and expressed concern over a new notice issued by the market regulator to former directors of Zee.
Zee Entertainment Enterprises has sought a termination fee of $90 million (around Rs 748.7 crore) from the Sony Group for calling off the $10 billion merger deal in January this year. It has sought termination fees from two Sony Group entities -- Sony Pictures Networks India (SPNI), now known as Culver Max Entertainment, and Bangla Entertainment (BEPL), according to a regulatory filing from Zee Entertainment Enterprises Ltd (ZEEL) on Thursday.
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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) 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.
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.
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".
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.
The National Company Law Tribunal (NCLT) on Thursday allowed the merger of Zee Entertainment Enterprises Ltd and Culver Max Entertainment (earlier known as Sony Pictures Networks India). This order by the Mumbai bench, headed by H V Subba Rao and Madhu Sinha, will pave the way for the creation of a $10-billion media company, the biggest in the country. The tribunal also dismissed all objections regarding the merger.
KL Rahul got emotional during a heartfelt on-air conversation with former teammate Cheteshwar Pujara, as he opened up about embracing fatherhood and the pain of being away from his newborn daughter, Evaarah, while on national duty.
'The Asia Cup matter or any other ACC event issue has not come up for discussion at any level, hence any news or report on that is purely speculative and imaginary.'
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Action, romance, comedy, drama unlimited on OTT this week, lists Sukanya Verma.
Reuters Photographer Adnan Abidi captures images of the mangled remains of AI-171 which crashed shortly after take off from Ahmedabad on Thursday afternoon.
'I don't know how long cinema will survive.'
Till now, Hollywood studios distributed local movies for commission and did not go the acquisition route.
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