Sony Pictures Networks India Private Limited and Zee Entertainment Enterprises Ltd. announced on Wednesday that they have signed definitive agreements to merge ZEEL with and into SPNI and combine their linear television networks, digital assets, production operations and programme libraries. The combined company will retain Zee`s listing in India. But Sony will provide a large injection of cash and control a majority stake of nearly 51%. The deal, which was first announced in September, is subject to regulatory and shareholder approval. The move follows years of unrest within both companies and comes at a time when India`s massive TV landscape is changing with much wider access to broadband internet and the penetration of streaming video services. India has one of the largest and most competitive streaming scenes in the world, based on low-cost mobile data and hybrid business models that combine advertising and subscription video-on-demand. According to the channel price list, Zeel standard definition channels, including Hindi GEC Zee TV, Marathi GEC Zee Marathi, Bengali GEC Zee Bangla, Odia GEC Zee Sarthak, Telugu GEC Zee Telugu, Kannada GEC Zee Kannada, were more expensive than Rs 12. a zeel spokesman said.
Business conglomerate Tata Group is poised to replace Vivo as title sponsor of the Indian Premier League (IPL) next year, league chairman Brijesh Patel said on Tuesday. The decision was announced after the Governing Council meeting. “Yes, it is possible. Tata Group will replace Vivo as the title. The merger faces a potential hurdle in the form of Atlanta-based Invesco fund, which owns 18 percent of Zee`s shares. Prior to the announcement of the merger, Invesco called an extraordinary general meeting that would remove Goenka from his position as CEO of Zee and add six directors from his election to the board of directors. Invesco`s efforts to achieve this remained persistent until a court order prevented it from calling the meeting. Invesco appealed the order. The transaction must be approved by 75% of shareholders who express an opinion, Variety understands. Mumbai: Eurosport India, the sports brand of Discovery Network and Jio TV Network, have acquired the broadcast rights to the AFC Women`s Asian Cup India 2022. India will host the 20th edition of Asia`s flagship women`s football tournament between January 20 and February 6. Eurosport India will be the.
The motivation for the merger comes from massive changes in the Indian entertainment landscape and also from internal corporate pressure within each company. Punit Goenka de Zee will lead the merged company as Managing Director and CEO. The majority of the Board of Directors will be appointed by the Sony Group and will be the current Managing Director and CEO of SPNI, N.P. Singh. Upon closing of the agreement, Singh will assume a broader leadership position at SPE as President, while Sony Pictures India (a division of Sony Pictures Entertainment) will report to Ravi Ahuja, President of SPE Global Television Studios and SPE Corporate Development. Mumbai: After enthusing audiences in nine spectacular seasons, Zee Ganga, the best BHojpuri GEC in Bihar, Jharkhand and Purvanchal, is ready to present the tenth season of “Memsaab No 1” in an unprecedented avatar. It is the very first unscripted reality show in the Bhojpuri category. In a statement, they said the agreement would create: “Commercial synergies and given its relative strengths in scripted, factual and sports programming, its respective distribution presence in India and iconic entertainment brands, the combined company is expected to be well positioned to meet growing consumer demand for premium content across touchpoints and entertainment platforms.” Streaming companies have aggressively embarked on sports casting, which was previously reserved for television. But the average revenue per user is very low. Netflix this week cut its monthly subscription in India to just $1.97. Zee and Sony both operate streaming platforms in India, although neither is the market leader.
Discovery Inc has joined FOX, NBCUniversal and ViacomCBS to acquire a minority stake in OpenAP, the progressive advertising company that works to “simplify and expand audience-based campaigns on television. The decision comes as media companies around the world look for improved ways. .