Sony India and Zee Entertainment Enterprises (ZEEL) have agreed to sell three Hindi channels--Big Magic, Zee Action and Zee Classic--to address anti-competition concerns arising out of their proposed merger. The broadcasters submitted their proposal to the Competition Commission of India (CCI), which gave a conditional approval on October 4. On Wednesday, the CCI made public its detailed 58-page order, specifying the channels that would be dropped.
D Gukesh crashed through the defenses of compatriot Leon Luke Mendonca in the ninth round to jump into sole lead at the Tata Steel Chess 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".
Looking at the OTT releases coming up this summer.
Norway's Magnus Carlsen continues to be the undisputed world No.1 with 2832.5 points, followed by United States' Grandmaster Hikaru Nakamura (2802) and country-mate Fabiano Caruana (2798).
Deadly brides, daredevil officers, bloodthirsty royals, killer toys, celebrity chefs, comic book heroes, angry goddesses, senior citizen dreams, poisonous snowfall, the OTT offerings this week will make you wish for days twice the size of its menu.
Horrors of the mind and modern technology rock the OTT this week.
Sukanya Verma lists everything that's there on OTT this week.
Sejal Shah's flatly-narrated timeline would probably serve better as a documentary, observes Sukanya Verma.
World champion D Gukesh climbed to a career-high No 3 ranking, while compatriot R Praggnanandhaa broke back into the top 10 in the latest FIDE classical ratings released on Saturday.
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.
'This is a first-of-its-kind partnership in the Indian media & entertainment landscape, and this association with Disney Star reflects our sharp, strategic vision for the sports business India.'
Shahid losing his memory, Nicole losing her mind, Mufasa holding on to both, only on OTT this week.
'...it was an awkward situation for both of us. I was in a hurry that day and really forgot. I want to wish good luck to both of you,'
Zee Entertainment last week witnessed shareholder activism that saw an open call for the ouster of promoters and the incumbent management led by Punit Goenka. Besides, Dish TV also faced a similar call earlier this month. The trouble at Zee Entertainment can be gauged from the fact that this is a unique company wherein the promoters own just 3.99 per cent, but fully control the firm.
The Mumbai bench of the National Company Law Tribunal (NCLT) on Wednesday directed Zee Entertainment to convene a shareholders' meet on October 14 for approving the merger with Culver Max Entertainment (formerly Sony Pictures Network). The order, passed on August 24, but uploaded to the bourses on Wednesday, comes close on the heels of the Competition Commission of India (CCI)'s observation that the $10-billion merger could hurt competition and that greater scrutiny of the deal was needed. "This Tribunal hereby directs that a meeting of the equity shareholders of the applicant company (Zee) be convened and held on Friday, October 14, 2022 at 4 p.m. for the purpose of considering, and if thought fit, approving the proposed scheme," the NCLT order read.
From old favourites to brand new attractions, Sukanya Verma lists all the excitement OTT has laid out in its action-packed menu this week.
Grandmaster Rameshbabu Praggnanandhaa opens up on beating World Champ D Gukesh to win the Tata Steel Chess Tournament, in Wijk Aan Zee, The Netherlands.
The merger of ZEE Entertainment and Sony has reached an advanced stage of completion, and the issues faced by promoters with Sebi should not become a problem for the company, debarred ZEEL MD Punit Goenka has said in a letter to employees, according to sources. Goenka, who along with his father Subhas Chandra, was denied any interim relief against a Sebi order that barred them from holding the position of director or key managerial post in any listed company, in the letter ZEE Entertainment Enterprises Ltd (ZEEL) staff asserted that the merger of Culver Max (earlier known as Sony Pictures Networks India) is at a very important juncture. With the Securities Appellate Tribunal (SAT) restricting him from holding a directorial or key managerial position in a listed company, Goenka told the employees that the ZEEL board has constituted an interim committee of senior executives to ensure smooth operations and day-to-day functioning.
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.
Babil's palpable reactions to invasion of privacy make a strong case for Logout's plausible scenario, observes Sukanya Verma.
Ace investor Rakesh Jhunjhunwala's Rare Enterprises Ltd and BofA Securities Europe SA on Tuesday bought shares of Zee Entertainment Enterprises worth over Rs 225 crore through open market transactions.
Reliance-Disney skips bidding
World champion D Gukesh played out a draw with top seed Fabiano Caruana of the United States in the third round of the Tata Steel Chess Tournament.
February has some promising original content streaming on OTT.
The Zee saga will see a long-drawn-out court battle before shareholders get any chance to vote on any proposal by the management or Invesco, says Prosenjit Datta.
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.
R Praggnanandhaa, who drew with Wei Yi of China in the sixth round, is the joint leader in the Tata Steel chess tournament.
The biographical drama is caught up in controversy after some Sikh organisations including the Shiromani Akali Dal objected, accusing it of misrepresenting the community and getting historical facts wrong.
Manjulika, Bajirao Singham, Squid Games, it's an action-packed end to 2024 on OTT this week.
The world is celebrating Raj Kapoor's birth centenary, but when was the last time you watched an RK film?
IDBI Bank has moved the National Company Law Tribunal (NCLT) against Zee Entertainment Enterprises Ltd (ZEEL) seeking an insolvency proceeding against the media firm to recover dues of Rs 149.60 crore. IDBI Bank has claimed an amount of Rs 149.60 crore, which has been disputed by ZEEL, said a regulatory update from the media major. IDBI Bank has filed an application under section 7 of the Insolvency and Bankruptcy Code, 2016, claiming to be a financial creditor, before NCLT for initiation of Corporate Insolvency Resolution Process against the company, it added.
Raveena Tandon's daughter making her debut, Kangana Ranaut's controversial Indira Gandhi movie, Millie Bobby Brown's brand new sci-fi offering and more on Sukanya Verma's Holi weekend watch.
Witches and westerns, goosebumps and goldfish, it's all there on OTT this week.
A very good mix of movies and Web series arrives on OTT in January.
Gukesh will have to carry with him the tag of world champion and along with it loads of expectations and increased scrutiny. But the 19-year-old is prepared to stand in the limelight.
The biographical drama is caught up in controversy after some Sikh organisations including the Shiromani Akali Dal objected, accusing it of misrepresenting the community and getting historical facts wrong.
R Praggnanandhaa, the newly-crowned Tata Steel Chess champion, was given a warm reception upon his return to Chennai. The 19-year-old made history by defeating reigning World Champion D Gukesh in the final, marking the biggest win of his career. Fans, officials from the Tamil Nadu government, and the national federation gathered at the airport to welcome the young chess prodigy. Praggnanandhaa became the first Indian after Viswanathan Anand to win the Tata Steel Chess title.
Investment firm Invesco Developing Markets Fund, the largest shareholder in Zee Entertainment Enterprises, on Thursday said it will support the Zee-Sony merger deal and has decided not to pursue the call for ZEEL EGM to remove managing director and CEO Punit Goenka and two independent directors. The company said it will support the merger of Zee and Sony, contending the "deal in its current form has great potential for Zee shareholders" but added if it is not completed as currently proposed, Invesco retains the right to requisition a fresh EGM. Two days after the Bombay high court ruled that Invesco's call for EGM was legally valid, the investment firm in a statement said, "Since we announced our intention to requisition an EGM and add six independent directors to Zee's Board of Directors, Zee has entered into a merger agreement with Sony.
World champion D Gukesh played out a draw with Jorden van Foreest of Holland, while Grandmaster R Praggnanandhaa beat Alexey Sarana of Serbia as the two Indians shared the lead after a thrilling day at the Tata Steel Masters at Wijk Aan Zee (The Netherlands) on Saturday.
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