India’s largest media and entertainment business is getting stitched up, spanning 100 TV channels, two streaming platforms Disney+ Hotstar and JioCinema, rights to premier sporting tournaments, including cricket Indian Premier League, as well as a robust international catalogue of content as American entertainment conglomerate The Walt Disney Company and billionaire Mukesh Ambani’s Reliance Industries have … Read more
Zee shares were locked at 10% lower circuit in the opening trade on Wednesday on report that Sebi has found irregularities worth ₹2,000 crore in the accounts of the company. In a setback for Zee Entertainment Enterprises Ltd (ZEEL), capital market regulator Securities and Exchange Board of India (SEBI) has unearthed a financial discrepancy exceeding … Read more
Story continues below Advertisement Zee Entertainment Enterprises Ltd on Tuesday clarified that the talk of renewed talks with Sony to revive the scrapped merger deal is incorrect and that the company is “not involved in any negotiations”. Earlier on Tuesday, The Economic Times reported, quoting sources, that ZEEL had re-engaged with Sony Corp to revive the $10-billion merger … Read more
Zee Entertainment has sought a refund of over Rs 68 crore from Walt Disney-owned Star in relation to the television broadcasting rights of the International Cricket Council (ICC) Men’s and Under-19 events. It said that Star violated the terms of the ICC TV rights agreement. Zee said that it has accrued Rs 72 crore for … Read more
Global brokerage firm CLSA has revised its recommendation on Zee Entertainment, changing it from a previous ‘buy’ rating to a ‘sell.’ This update comes in response to the cancellation of the $10 billion mega-merger with Sony Pictures Network. “With Zee-Sony merger being terminated, we believe Zee’s PE will slump back to 12x levels, seen prior … Read more
A day before the deadline for the extension of the proposed Zee-Sony merger expires, Zee Entertainment on Friday said that it was unaware of any board meeting held or proposed to be held by Culver Max Entertainment (formerly Sony Pictures Networks India) to discuss merger-related issues. The company also reiterated its commitment to the proposed … Read more
Shares of Zee Entertainment bounced back strongly in today’s intraday trade by gaining 4.48%, reaching ₹267.80 apiece, following a 7.64% drop in the previous trading session. The sharp uptick in shares today is attributed to the company’s clarification regarding media reports suggesting a potential cancellation of the planned merger between Zee Entertainment and Sony Group. … Read more
Zee Entertainment Enterprises Ltd said on Wednesday that “‘good faith negotiations” will happen with Japan-based Sony Group’s India unit to discuss an extension of the merger deadline. The deal to create a $10-billion media and entertainment powerhouse was first announced two years ago, but has been delayed due to regulatory and other uncertainties. “The Company … Read more
Zee Entertainment Enterprises Ltd on Sunday said it has requested Culver Max Entertainment Private Limited (formerly known as Sony Pictures Networks India Private Limited) for extension of timeline to complete the mega media merger. “Pursuant to the Merger Cooperation Agreement dated December 22, 2021 entered into amongst the Company, Bangla Entertainment Private Limited (‘BEPL’), and … Read more
•Fixed Income: The New 10-Year Benchmark GOI 7.18 2033 traded between 7.28% – 7.39% during this week Old 10-Year Benchmark GOI 7.26 2033 traded between 7.34% – 7.45% during this week, tracking movement in Crude Oil, Currency, US Treasury Yields and Inflation data. •Auction Highlights RBI conducted the Auction for G-sec, SDL, and T-Bill for … Read more