Zee entertainment refutes report of Rs 2,000 cr accounting gaffe, says it is 'false'
Zee entertainment denies media reports of a $240 million 'accounting hole,' calling them incorrect and false. The embattled Indian broadcaster asserts cooperation with SEBI and states they are addressing comments requested. SEBI reportedly uncovers a potential diversion of around Rs 2,000 crore, ten times higher than initial estimates, according to Bloomberg News sources Key Points
Economic TimesZee entertainment to review its entire business portfolio after breakup with Sony
Zee entertainment Enterprises on Tuesday reported a 140.74% year-on-year (YoY) jump in net profit at Rs 58.5 crore for the third quarter that ended December 31, 2023. Key Points
Business TodayZee entertainment moves NCLT against Sony for calling off merger
The company has initiated appropriate legal action to contest Sony's claims of USD 90 million (around Rs 748.5 crore) as a termination fee, for which the Japanese firm has moved the Singapore International Arbitration... Key Points
The Tribune IndiaIt’s a wrap! A look at Bollywood’s year of comebacks and India’s 2023 cinematic odyssey
In 2023, India's entertainment scene transformed drastically, offering unique experiences and emotions. Bollywood witnessed Shah Rukh Khan's triumphant return after five years, along with Sunny Deol's highly anticipated comeback in Gadar 2, thrilling movie lovers. It marked a remarkable year in curated entertainment, where audiences embraced both familiar cinema and explored new territories of live entertainment. Key Points
Economic TimesA censor board for OTT platforms? Think again.
Content filters could suffocate entertainment and come to prove counter-productive for the government. Quality entertainment needs a mature audience as well as mature governance. Key Points
mint
EXO's D.O. leaves agency after 12 years, Suho assures fans against disbandment
EXO consists of Xiumin, Suho, Lay, Baekhyun, Chen, Chanyeol, D.O., Kai and Sehun. D.O. is the first member to leave their agency. Key Points
Hindustan TimesIndian films and OTTs see money in Dalit stories. But watch out for symbolic violence
Dalit creative diaspora must contend with coerced aesthetic labour to survive in the media and entertainment industry. Unfortunately, their struggle finds no room or narrative support. Key Points
ThePrintSM entertainment denies knowing about Baekhyun's new company One Signature
EXO member Baekhyun recently said he won't be releasing his solo album. However, EXO agency SM entertainment has revealed plans of releasing his album in 2023. Key Points
Hindustan TimesInnovatus entertainment IPO: GMP, subscription status on day 1, and other key details here
Innovatus entertainment Networks is set to launch its IPO on August 4th at a price of ₹50 per share. The IPO has received positive response from retail investors. Key Points
mintZee Ent’s Punit Goenka pays Rs 50 lakh to settle insider trading case with SEBI
IndusInd Bank in its plea claimed a default of Rs 83.08 crore against the media and entertainment firm promoted by Subhash Chandra. Key Points
Economic Times
Booster Shot! Settlement with IndusInd Bank lifts Zee Ent shares to 1-month high
The insolvency plea by IndusInd Bank against Zee had raised questions over the smooth merger of the company with Sony Pictures, which was already delayed due to regulatory requirements. In February alone, shares of Zee entertainment lost nearly 14% of its value. Key Points
Economic TimesReliance and Disney announce $8.5 billion media assets merger in India
Reliance will infuse $1.4 billion in the merged entity, with the company and its affiliates holding a more than 63% stake. Disney will hold about 37%, the companies said in a joint statement. Key Points
ThePrintZEE shares gain 2% despite posting Q4 loss; should you buy, sell or hold Zee entertainment Enterprises stock?
Zee's share price gained 2.1% intraday as analysts were positive on the stock. Despite the setbacks for Zee entertainment Enterprises, a lot of analysts are issuing a 'buy' call on the scrip. Key Points
FinancialexpressGovernment to host first World Audio Visual and entertainment Summit in Goa
New Delhi [India], July 13 (ANI): The Ministry of Information Broadcasting will organise the first edition of the World Audio Visual & entertainment Summit (WAVES) from November 20-24, 2024. The summit will be hosted in Goa in collaboration with the State Government of Goa. Speaking with the reporters on Saturday, Union IT Minister, Ashwini Vaishnaw […] Key Points
ThePrintZee shares rally on reports of revival of merger talks with Sony
Not involved in any negotiations: Zee. Shares of Zee entertainment Enterprises Ltd (ZEEL), which had been receiving a battering in an overall bull market,... Key Points
The Tribune India
Buzzing Stock: Zee entertainment climbs 8% as NSE issues fresh F&O contracts
NSE said on Monday circular dated February 23 regarding the exclusion of F&O contracts on Zee stands withdrawn. In addition to existing contracts with expiry months of March 2023 and April 2023, the futures and options contracts with May 2023 expiry shall also be made available for trading from February 28, 2023, it added. Key Points
Economic TimesZee entertainment shares rise over 3% after SAT sets aside SEBI order against Punit Goenka
In an interim order, the Securities and Exchange Board of India (SEBI) in June restrained Essel Group Chairman Subhash Chandra Goenka and Goenka from board seats in any entity formed through the merger or amalgamation of the four Zee group companies. SEBIs investigations showed that Chandra and Goenka abused their position as directors of Zee entertainment in 2019 by siphoning off funds for their own benefit. Key Points
Economic TimesNCLAT to hear IDBI Bank’s plea against Zee Ent in payment dispute case on Aug 31
The National Company Law Appellate Tribunal (NCLAT) on Thursday agreed to hear IDBI Banks plea against Zee entertainment in payment dispute case on August 31, 2023. Earlier, on August 2, the hearing on bank's plea was deferred by the NCLAT till August 17. The private lender has challenged an NCLT order, which had on May 19 rejected its plea to initiate insolvency proceedings against the media major. Key Points
Economic TimesNCLAT defers hearing on IDBI Bank's plea against Zee entertainment to Aug 17
The National Company Law Appellate Tribunal (NCLAT) on Wednesday deferred the hearing of IDBI bank's plea against Zee entertainment till August 17. The private lender has challenged an NCLT order, which had on May 19 rejected its plea to initiate insolvency proceedings against the media major. Key Points
Economic TimesInvesco exits ZEEL; sells entire stake for Rs 1,004 cr
According to the bulk deal data available with the BSE, OFI Global China Fund sold more than 4.91 crore shares, amounting to 5.11 per cent stake in the firm. Key Points
The Indian Express
Disney’s India unit valuation halves in Ambani merger talks
Walt Disney Co.'s India unit faces challenges in its proposed merger with Mukesh Ambani's media business, reflecting the struggle global media giants face in India's entertainment market. The valuation of Disney's India assets is around $4.5 billion, less than the $10 billion previously pursued. The lower figure is also due to a write-off of revenue from Zee entertainment Enterprises Ltd. Key Points
Economic TimesNCLAT disposes of Punit Goenka’s plea after Zee settles dues with its lender IndusInd Bank
The National Company Law Appellate Tribunal (NCLAT) on Monday disposed of an appeal filed by the promoters of Zee entertainment after the company settled its dues with IndusInd Bank. Punit Goenka, managing director (MD) of Zee entertainment Enterprises (ZEEL) approached the appellate tribunal in February to challenge the National Company Law Tribunals order to admit the company under the Corporate Insolvency Resolution Process. Key Points
Economic TimesBLACKPINK won't renew individual contracts for solo projects with group agency
YG entertainment said that they ‘will do our utmost to support BLACKPINK’s activities’. The group comprises Jisoo, Jennie, Rose, and Lisa. Key Points
Hindustan TimesOTTplay Awards' star-studded night lights up Twitter trends
OTTplay Awards were trending on social media on October 29. The ceremony was attended by the biggest names of entertainment industry. | Web Series Key Points
Hindustan TimesDisney, Reliance to merge India media operations to create Rs 70,000 crore behemoth
Reliance has also agreed to invest Rs 11,500 crore into the joint venture to fight rivals such as Japan’s Sony and Netflix. Walt Disney Co and Reliance Industries... Key Points
The Tribune India
Reliance, Disney announce merger; Nita Ambani to be chairperson
India Business News: Reliance Industries, Viacom 18 Media, and Walt Disney have formed an $8.5 billion joint venture in India. Nita Ambani and Uday Shankar will lead the v Key Points
Times Of IndiaAnant Ambani says no wildlife safari for guests at pre-wedding festivities
Anant dismissed reports of a wildlife safari for guests at the pre-wedding festivities. He said that the safari is solely for educational purposes, with no wildlife being exposed for mere entertainment. Key Points
India TodaySingapore arbitrator quashes Sony's request to stop Zee approaching NCLT
Sony Group and Zee entertainment called off their planned media merger in India in January, with the Japanese company accusing Zee to have failed to meet merger agreement conditions. Following the failure, Sony filed an arbitration application in Singapore, seeking a termination fee from Zee. Key Points
mintSAT gives relief to Punit Goenka, sets aside SEBI order barring him from holding board seats
The Securities Appellate Tribunal has overturned the decision made by SEBI, which had imposed a one-year ban on Zee Entertainment's CEO, Punit Goenka, preventing him from serving on the boards of listed companies. This likely paves the way for the completion of the merger between Zee-Sony, creating a $10 billion media entity in the country. Key Points
Economic TimesBlackpink's agency reacts to rumours of drug abuse against Rose
YG entertainment responded strongly over drug allegations against Blackpink's Rose. She also sparked dating rumours with Kang Dong Won. Key Points
Hindustan Times
It's official! Reliance signs binding merger with Walt Disney; full details here
Reliance Industries, Viacom 18 Media, and Walt Disney partner up to create a joint venture merging Star India and Viacom18, with Reliance investing Rs 11,500 crore ($1.4 billion) into the new enterprise. Key Points
Business TodaySony terminates merger agreement with Zee Entertainment
As per the deal, the merger was to be completed before December 21, 2023. Culver Max Entertainment, formerly known as Sony Pictures Networks India (SPNI), has... Key Points
The Tribune IndiaRose shares cryptic post, says ‘great minds think alike’ amid disbandment rumour
BLACKPINK consists of Jisoo, Jennie, Rosé and Lisa. They debuted under YG entertainment and there are reports that they might be disbanding. Key Points
Hindustan TimesReliance, Disney sign binding agreement to form JV, to merge media operations in India
Reliance Industries Limited (“RIL”), Viacom 18 Media Private Limited (“Viacom18”) and The Walt Disney Company (NYSE:DIS) (“Disney”) today announced the signing of binding definitive agreements to form a joint venture (“JV”) that will combine the businesses of Viacom18 and Star India. As part of the transaction, the media undertaking of Viacom18 will be merged into Star India Private Limited (“SIPL”) through a court-approved scheme of arrangement. Key Points
Economic TimesZee, Sony settle all disputes over failed $10-bn merger deal
New Delhi, August 27 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 USD 10-billion merger and have agreed to withdraw all claims against each other.... Key Points
The Tribune
'Crime Scene Kitchen Season 3': Know about show, prize money, people behind show and more
Fox Alternative entertainment and Fly on the Wall entertainment will produce 'Crime Scene Kitchen' Season 3. Allison Grodner, Rich Meehan and McHale will serve as their Executive Producers. Conrad Green will be the showrunner and Executive Producer. Know when it will arrive. Key Points
Economic TimesStocks 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 TimesSIAC denies emergency interim relief to Sony Group cos against Zee
The Singapore International Arbitration Centre (SIAC) denies emergency interim relief to Sony Group companies against Zee entertainment Enterprises. SIAC's emergency arbitrator states that the National Company Law Tribunal (NCLT) is the appropriate forum. Legal experts confirm that arbitration proceedings regarding Zee's obligation to pay $90 million in termination fees to Sony will continue. Key Points
Economic TimesSIAC to begin hearing in Sony-Zee arbitration matter on Jan 31
The Singapore International Arbitration Centre will hold online hearings for the arbitration case filed by Culver Max entertainment and Bangla entertainment against Zee entertainment Enterprises over alleged merger agreement breaches. Sony terminated the merger agreement on January 22 and demanded a $90 million termination fee. Zee disputes the allegations and urges withdrawal of the termination notice. Key Points
Economic TimesEnd of Zee-Sony deal may trigger a spate of legal wranglings
The Sony Group's decision to call off its deal with Zee entertainment Enterprises and seek a termination fee of $90 million is likely to trigger a messy legal war. Both companies can approach an arbitration tribunal or a high court for interim relief. Disputes relating to changes in the merger scheme can be challenged before the arbitral tribunal. Zee entertainment can also invoke arbitration and seek interim measures as per the agreement. Key Points
Economic Times
Zee entertainment stock rebounds, gains over 4% as company says Sony merger cancellation report 'baseless'
Zee entertainment shares bounced back after previous drop, following clarification on merger cancellation reports with Sony Group. In today's intraday trade, the stock surged by 4.48%, reaching ₹267.80 apiece. Key Points
mintSEVENTEEN singer Jeonghan undergoes ankle surgery, to miss Asia tour ‘FOLLOW’
Jeonghan of SEVENTEEN faces a setback in their FOLLOW tour as he undergoes ankle surgery, prompting PLEDIS entertainment to prioritize his recovery. The self-producing group, known for their active involvement in all aspects, rallies understanding from fans during this unforeseen hiatus. Key Points
Economic TimesIndian ministry examines market regulator's allegations against Zee - ET NOW
India's Ministry of Corporate Affairs (MCA) is examining irregularities in Zee entertainment Enterprises (ZEE.NS) as alleged by the market regulator, ET Now reported on Friday. Key Points
ReutersSunny Leone opens up about transitioning from adult entertainment to Bollywood: ‘There were death threats, bomb threats’
After making a name for herself in the adult entertainment industry, Sunny Leone moved to India after debuting on Bigg Boss season 5. She went on to appear in several Hindi movies, and is now a part of the Cannes title Kennedy. Key Points
The Indian Express