Zee Entertainment on Friday said it has "pruned" its Technology and Innovation Centre (TIC) by about 50 per cent following the guidance of a special committee, which had conducted a critical assessment of its several business verticals. The MD & CEO has pruned TIC staff strength by 50 per cent to achieve a cost-effective structure, a Bengaluru-based business vertical of the company that offers technology solutions, Zee Entertainment Enterprises Ltd (ZEEL) said in an official statement.
The BCCI on Sunday announced an open tender process for allocating the cash-rich Indian Premier League's global broadcasting rights, a move that conforms to the Lodha Committee recommendations on transparency. "We are happy to announce the tender process for IPL Global Media Rights (TV and Digital)," BCCI President Anurag Thakur announced in a press conference in New Delhi.
Females contributed to 47 per cent of the tournament reach.
Unprecedented bribery charges, farewells, separation, failed union, monumental mergers and record-breaking IPOs, along with a healthy dose of online happenings in the form of spat and lessons in customer care, corporate India saw it all in 2024.
The $385 million acquisition of TEN Sports is set to make Sony Pictures Networks a major cricket broadcaster in Asia as it seeks to expand its Twenty20-dominated portfolio. Sony Corp-owned SPN holds broadcast rights for the annual cash-rich Indian Premier League Twenty20 cricket tournament while also having the rights for the domestic leagues in South Africa and the West Indies.
Disney Star India, bought at a valuation of $15 billion, could be on the block for roughly one-third that amount.
In an open letter to Zee's shareholders, Invesco, which holds a 7.74 per cent stake in the firm, reiterated its demand for an overhaul of the media group's board and that it would pursue extraordinary general meeting (EGM) to oust chief executive Punit Goenka and two other directors. Last month, Sony Group Corp's India unit signed a non-binding offer to buy Zee.
At its meeting held on Friday, the company's board rejected the minority shareholders' demand and termed the requisition as "invalid and illegal". "In its meeting held on 1st October 2021, the board has arrived at a conclusion that the requisition is invalid and illegal; and has accordingly conveyed its inability to convene the Extraordinary General Meeting to Invesco Developing Markets Funds and OFI Global China Fund, LLC," ZEEL said in a statement.
In a major relief to media major Zee Entertainment Enterprises Ltd (ZEEL), the National Company Law Appellate Tribunal (NCLAT) on Friday stayed the insolvency proceedings initiated against it earlier this week. Admitting a petition filed by ZEEL Managing Director and chief executive Punit Goenka, the appellate tribunal issued notices to private sector lender IndusInd bank and the interim resolution professional directing them to file a reply in two weeks. NCLAT said the submissions made by both sides need a detailed hearing.
In 2018, KBC failed to make it to the top 5 shows list, Indian Idol featured on the same thrice.
The IPL broadcast rights -- internet, TV and mobile -- are expected to fetch the BCCI a massive sum of around Rs. 20,000 crore-plus.
Star India successfully bagged the global media rights for the next five seasons of Indian Premier League -- including broadcast and digital -- for a massive Rs. 16,347.50 crores ($2.55 billion), in Mumbai, on Monday.
The rights on offer are Indian Sub-continent Television Rights from 2018 to 2027 (10 IPL seasons), Indian sub-continent Digital Rights from 2018 to 2022 (5 IPL seasons) and Rest of the World Media Rights from 2018 to 2022 (5 IPL seasons).
Zee Entertainment Enterprises Ltd on Wednesday approached the National Company Law Appellate Tribunal (NCLAT) against the requisition of minority shareholders Invesco and OFI Global China Fund to convene an Extraordinary General Meeting (EGM) to discuss various issues, including removal of managing director Punit Goenka. The media major has challenged the orders of Mumbai-bench of the National Company Law Tribunal, which had on Tuesday directed Zee Entertainment Enterprises Ltd (ZEEL) to filed reply over the petition filed by its minority shareholders by October 7 (Thursday), the next date of hearing. Confirming the development, a ZEEL Spokesperson said: "The company has moved NCLAT in accordance with the due process available under the law."
'When guys with one, two, three, four followers troll, it isn't trolling.'
Why are DIIs holding such a high stake in Zee, which is beset with alleged governance issues? Perhaps they think Zee is a deep-value stock, observes Debashis Basu.
A division bench of Justices Amjad Sayyed and Anuja Prabhudessai passed the judgment on a bunch of petitions filed by several broadcasters, like the Indian Broadcasting Foundation, a representative body of TV broadcasters, the Film and Television Producers Guild of India, Zee Entertainment Ltd and Sony Pictures Network India.
The WWE says that India is its biggest market globally in terms of television viewership -- around 350 million unique viewers annually -- social media engagement and YouTube consumption, even claiming that it is the second-most watched sport in the country behind cricket.
...followed by financial services, IT, and sales and marketing.
The country will host the first ever live NBA match in October this year
In its reply to the Securities Appellate Tribunal (SAT), the Securities and Exchange Board of India (Sebi) said urgent action was warranted against the promoters of Zee Entertainment Enterprises Limited (ZEEL) in the alleged fund diversion case to safeguard the management and protect investors and other stakeholders. It termed the applications made by Essel Group Chairman Subhash Chandra and ZEEL managing director (MD) and Chief Executive Officer (CEO) Punit Goenka as "completely false and misleading" in its response submitted to SAT on June 17. "We have a situation before us where the chairman emeritus and the MD and CEO of this large listed company are involved in a myriad of different schemes and transactions through which vast amounts of public money belonging to listed companies are diverted to private entities owned and controlled by these persons.
The e-auction of television and digital rights, a first in cricket, was not concluded but the Indian board (BCCI) received a bid of 44.4 billion Indian rupees ($683 million) for consolidated global rights from an unidentified bidder.
Bollywood actor Emraan Hashmi, watched captain Rohit Sharma lead by example as a thoroughly professional Mumbai Indians outclassed Pune Supergiants.
'The IPL is by the biggest sports property in the country and having it will give any digital video player an edge.'
Former cricketer Mohammad Azharuddin, who is actively promoting his upcoming biopic 'Azhar', walked out of an interview recently when posed questions about the match-fixing controversy.
Reiterating its position, TRAI, which oversees both the telecom and television sectors in the country, said the amendments suggested on January 1 had been done to correct "distortions" in the market and address pricing issues.
As the feud continues between Zee and Invesco, appellate body NCLAT on Thursday directed the National Company Law Tribunal (NCLT) to give reasonable opportunity to the media major to reply to Invesco's plea for holding a meeting of shareholders, and also remarked that the tribunal made an "error" by not providing sufficient response time. With the order capping a day of fast legal developments at the NCLAT as well as the NCLT within a span of a little over an hour, the spat between Zee Entertainment Enterprises Ltd (ZEEL) and minority shareholder Invesco will now come up for hearing before the NCLT on Friday. Invesco is seeking the ouster of ZEEL MD and CEO Punit Goenka and appointment of six new directors on its board.
Invesco, the single largest shareholder of Zee Entertainment Enterprises Ltd (ZEEL), on Wednesday said it had tried to facilitate a possible deal between Reliance and the company but refuted claims it had pushed for the transaction at a lower valuation. The latest statement from Invesco comes a day after ZEEL chief Punit Goenka told the company's board that Invesco had come with a proposal in February for a merger with certain entities owned by a large Indian group (Strategic Group) with inflated valuation "by at least Rs 10,000 crore". In a statement on Wednesday, Invesco mentioned that Reliance was the large Indian group.
Board of Control for Cricket in India's Chief Executive Officer Rahul Johri says the revenue generation from the upcoming Indian Premier League's media rights auction could be "historic".
he battle has moved to the small screen and guess who's winning? Urvi Malvania reports.
After the second day, BCCI's media rights value has already gone up by 56 percent with the per match value touching nearly Rs 60 crore (Rs 59.16 crore) for 102 international games across three formats.
Sri Lanka Cricket, currently fighting the menace of deep-rooted corruption, was dealt a blow after its Chief Financial Officer was arrested for alleged financial fraud, police said on Monday.
Phogat, who will make her MMA debut against South Korea's Kim Nam-hee at One Championship's Age of Dragons event in Beijing on Saturday,
The current broadcasting platforms believe the road ahead for Netflix might not be a cakewalk
Google is the most attracitve employer in India followed by Sony
We must stop stigmatising business failures. Particularly when startups are mushrooming all around, the financial system, backed by the RBI and the government, can explore ways of extending support to restart the journey of a failed entrepreneur by finance as well as counselling, recommends Tamal Bandyopadhyay.
Buoyed by increased viewership and a relatively controversy-free tournament, the Indian Premier League (IPL) has seen a spike in its brand valuation to $5.3 billion after the 10th edition, according to global valuation and corporate finance advisor Duff & Phelps.
The four south Indian languages grew by 7% while regional languages within the Hindi speaking markets (such as Bhojpuri, Bangla, Marathi, etc) grew by 26%.
Puneet Goenka's ability to stay calm is probably what helped Zee rise from a down-in-the-dumps broadcaster into one of the largest, steadiest and most profitable media companies in India, reports Vanita Kohli-Khandekar.
The Supreme Court-appointed Justice Rajendra Mal Lodha panel asked the Board of Control for Cricket in India to accept its reforms before proceeding ahead with the process of awarding the Indian Premier League media rights from 2018 onwards.
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