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.
Competition Commission of India on Wednesday said it has approved the merger of the media assets of Reliance Industries and Walt Disney Co to create the country's largest media empire. The deal, announced six months ago, has been cleared by the CCI with certain modifications proposed by the two parties.
Hotstar on Friday said it will offer the Asia Cup and ICC Men's Cricket World Cup tournaments at no cost to users.
Paramount Global has agreed to sell its 13 per cent stake in its Indian TV business to Reliance Industries for Rs 4,286 crore, the Indian firm said on Thursday. In a stock exchange filing, Reliance said it has signed a binding agreement with two subsidiaries of Paramount Global to acquire 13.01 per cent equity stake of Viacom 18 Media Private Limited held by Paramount Global. Similarly, in a filing on the US Securities and Exchange Commission (SEC), Paramount Global said the closing of the transaction is subject to the satisfaction of certain customary conditions, including receipt of applicable regulatory approvals, as well as the completion of a previously announced joint venture involving Reliance, Viacom18 and Star Disney.
Under the deal, reportedly worth more than $250 million, international matches and the domestic Big Bash League for men and women will be beamed to India "and other territories across Asia" from the 2023-24 season.
Analysts have given a thumbs up to the Reliance Industries (RIL) and Walt Disney Co. (Disney) proposed a joint venture (JV). The stock of the Mukesh Ambani-controlled company gained nearly 1.5 per cent on Thursday to Rs 2,952 levels as compared to the S&P BSE Sensex that traded marginally weak, down 0.2 per cent to 72,172 levels in intra-day trades.
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.
Walt Disney Co and Reliance Industries on Wednesday announced signing of binding pacts to merge their media operations in India to create a Rs 70,000 crore behemoth. Reliance and its affiliates will hold 63.16 per cent in the combined entity while Disney will hold the remaining 36.84 per cent, the companies said in a statement.
The BCCI will float tenders for IPL's media rights for the 2023-27 cycle as early as the coming week and complete the e-auction in two months.
At least five bidders have emerged for the five-year-old video service with four million users.
While making the announcement, Anil Ambani, chairman of ADAG, said, the partnership with Spielberg and Snider is the cornerstone of the company's Hollywood strategy.
Fox shareholders will receive 0.2745 Disney shares for each share held.
'Our intention is to make Disney-branded clean family movies for the entertainment of the local Indian market.'
Amazon's rivalry in India with oil-to-retail conglomerate Reliance Industries looks set to head to the cricket field, where they will likely battle media heavyweights for telecast rights to the Indian Premier League (IPL) with its hundreds of millions of viewers.
Property giant Dalian Wanda Group Co said on Wednesday it would buy a stake in Spanish soccer champions Atletico Madrid for 45 million euros ($52 million), becoming the first Chinese company to invest in a premier European football club.
The honorees smiled, held hands and exchanged hugs as they filled the stage at the glitzy event attended by top athletes and celebrities in downtown Los Angeles.
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The network also unveiled a new brand identity for Star Sports across six channels and has renamed all the ESPN channels, subsequent to the buyout of ESPN Inc's stake in their 16 year old joint venture ESPN STAR Sports.
Employees accused them of limiting competition by colluding not to poach each other's talent.
Zee and Star, the two largest media companies in India, are undergoing some radical ownership changes. What could it mean? Vanita Kohli Khandekar attempts an answer.
Fewer than half of Americans plan to go to sports events, concerts, movies and amusement parks when they reopen to the public until there is a proven coronavirus vaccine. That includes those who have attended such events in the past, an ominous sign for the sports and entertainment industries hoping to return to the spotlight after being shut down by the pandemic.
'It is perplexing to see the leader of the First World with a first rate medical infrastructure come up short on its foresight to handle the pandemic,' notes Group Captain Murli Menon (retd).
Terming Rajan as "India's prescient banker," Time said he is among a rare breed of "economic seers".
A summary of sports events and persons who made news on Monday.
Using Facebook video or YouTube for content distribution is not new.
The move will catapult Disney as the country's largest media and entertainment broadcaster, with over $1.3 billion of additional India revenue.
ESPN is experimenting to see if the sport can gain traction in the United States, where professional and college football are king while cricket, with its loyal but small fan base, is viewed as being on the fringe.
Apple Inc unveiled a watch, two larger iPhones and a mobile payments service on Tuesday as Chief Executive Officer Tim Cook seeks to revive the technology company's reputation as a wellspring of innovation.
A summary of sports events and sports persons, who made news on Tuesday
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