Stocks in news: Paytm, Sula Vineyards, ZEE, Omaxe, SpiceJet
Zee Entertainment has alleged that Star India has not acted in accordance with the agreement between them over the sharing of the TV broadcast rights of ICC cricket matches and has sought a refund of Rs 68.54 crore from the Walt Disney-owned firm. Key Points
Economic Times100 years of Disney: Catapulting cartoons to global fame
With $40 in his pocket, Walt Disney made his way to Hollywood. 100 years and countless classic films later, he leaves behind a multi-billion dollar legacy. Key Points
Hindustan TimesReliance-Disney merger may take up half of India's streaming market: Reports
Reliance Industries Limited and The Walt Disney Company formally signed a binding agreement on February 28 to establish an $8.5 billion media powerhouse. Key Points
India TodayHotstar's owner to merge with Star India
Novi Digital Entertainment, the owner of Disney+ Hotstar, has begun the process of merging with its parent company, Star India, which is owned by Walt Disney Company. The companies have filed a merger scheme with the National Company Law Tribunal in Mumbai. The aim of the merger is to restructure their streaming, broadcasting, and distribution businesses, achieving economies of scale and operational efficiencies. Key Points
Economic TimesDisney may post impairment charges of $1.8-2.4 bn
Walt Disney is forecast to record non-cash pre-tax impairment charges of $1.8 billion to $2.4 billion for the quarter ending March 31, primarily due to Star India's net asset and goodwill write-down at the entertainment linear network's reporting unit. The charges are mainly due to the merger deal with Reliance Industries Ltd (RIL) to create a $8.5 billion media entity through the combination of Star India and Viacom18. Key Points
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Disney names PepsiCo veteran Hugh Johnston as CFO
Walt Disney (DIS.N) on Monday named PepsiCo (PEP.O) veteran Hugh Johnston as its chief financial officer, strengthening top boss Bob Iger's hands as he tries to turn around the media giant facing a decline in its cable business and investor pressure. Key Points
ReutersESPN secures rights to air Tiger Woods, Rory McIlroy's golf league TGL
(Reuters) - Walt Disney's ESPN has clinched the U.S. broadcast rights for TGL, a new primetime golf league created by Tiger Woods and Rory McIlroy, the company said on Thursday. TGL fuses technology Key Points
ThePrintDisney+ Hotstar sees user exodus as IPL rights end
Walt Disney Co. said the subscriber base at its video streaming platform shrank 24% from 52.9 million to 40.4 million, the sharpest fall in any quarter yet. Key Points
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