Zee-Sony merger to have largest entertainment network in India

#Sony, #Zee, Zee Entertainment Enterprises Ltd, the combined entity will operate

Sony Pictures Networks India (SPNI) and Zee Entertainment Enterprises Ltd (ZEEL) announced that they had entered into an exclusive, non-binding Term Sheet to combine both companies’ linear networks, digital assets, production operations and program libraries.

The merger will mean that the combined entity will operate a network of 75 channels with SPNI operating 26 channels after it added two new channels in the sports genre and Zee’s 49 channels.

In addition, Zee has a presence in over 173 countries and a reach of more than 1.3 billion people around the globe and reaches over 600 million individuals in India every week whereas Sony reaches out to over 700 million viewers in India and is available in 167 countries.

Also, both Zee and Sony have video streaming platforms — ZEE5 and SonyLIV.

Sony, which has now merged with Zee, was also in the picture when Subhash Chandra, founder of Zee was looking for a buyer for the Zee stake sale in 2019.

It was in November 2018 when Indian media conglomerate Zee Entertainment had decided to sell half of its promoter holding of about 42 percent in flagship Zee Entertainment Enterprises Ltd (ZEEL). The company called it a “strategic review of its business in the changing global media landscape”.

After Zee’s announcement, Macquarie Capital had said in a research note that a global partner will prove beneficial for Zee to plug gaps in the firm’s media-tech prowess.

A leading candidate in the race to buy stakes in Zee was Sony. And experts were of the opinion that acquiring stakes in Zee will help Sony increase its presence in India.

If we look at Zee’s regional presence, the network has 20 percent viewership share in the south market.

According to an Elara capital report, Zee Telugu entered the top 10 list with 7.8 percent viewership share in July. During the same period, Zee continued its leadership in Karnataka led by Zee Kannada, Assam/North East led by Zee Bangla, and in all other major regions. It was followed by the Star group that stood second.

Zee witnessed gains across markets for its regional channels, the report added.

The channels that saw strong gains in July included Zee Bangla, Zee Kannada, Zee Anmol, Zee Tamil, Zee Keralam.

Along with general entertainment channels, Zee has a strong presence in the movie genre with 25 percent of the total television movie consumption in India happening on its network, the company said in its annual report.

With the Zee-Sony merger, viewers of the Sony network in India will have access to Zee’s over 260,000 hours of television content and also its Hindi film library with rights to more than 4,800 movie titles across various languages.

Along with TV, movies and digital, Zee has also ventured into live events with Zee Live.

When it comes to Sony, the network has many sports properties on offer.

The broadcaster for the India tour of Australia that took place earlier this year saw close to 75 million viewers on Sony Sports TV channels for the test matches alone.

Overall, India’s tour of Australia was watched by more than 100 million viewers on television.

Sony had also aired the Tokyo Olympics which recorded 69 million viewers in India in its opening week.

Along with cricket, Sony also offers sports properties including WWE (World Wrestling Entertainment) and UFC (Ultimate Fighting Championship), among others.

This is why the coming together of Zee and Sony will make the combined entity the largest network in India.

ZEEL’s strong expertise in content creation and its deep consumer connect established over the last 3 decades, coupled with SPNI’s success across entertainment genres (including gaming and sports) will add significant value to the merged entity and its management team, thereby increasing shareholder value multifold, the company said in a statement.

“The value of the merged entity and the immense synergies drawnbetween both the conglomerates will not only boost business growth but will also enable shareholders to benefit from its future successes. As per legal and regulatory guidelines, at the required stage, the proposal will be presented to the esteemed shareholders of ZEEL for their approval,” said R Gopalan, Chairman, ZEE Entertainment Enterprises Ltd.

Internet Explorer Channel Network
News Related

OTHER NEWS

Dish TV Rs 1,000 crore rights issue critical for business survival: Official

Representative image Dish TV’s Rs 1,000 crore rights issue is critical for the survival of the DTH company that needs funds to upgrade technology and replace old set-top boxes with ... Read more »

Will we soon be living in the ‘metaverse' or will it turn out to be a big hype?

Imagine: you wake up, have breakfast and get dressed. Instead of going to the office or crawling behind your computer, you put on a headset. It takes you to another, ... Read more »

Matchboxes to get costlier, price to increase after 14 years

According to the manufacturers, 14 items are needed for making matchboxes. After a period of 14 years, the All India Chamber of Matches in Sivakasi has decided to increase the ... Read more »

India high cost environment for airlines; critical that AERA is empowered further: IATA official

Aviation India continues to remain a high cost environment for airlines to operate in and it is critical to empower the Airports Economic Regulatory Authority (AERA) further to safeguard the ... Read more »

Ethereum: The transformation that could see it overtake bitcoin

The world’s second most valuable cryptocurrency, ether, has been touching all-time highs in price ahead of a major upgrade of its underlying platform, ethereum. Ether is currently worth in aggregate ... Read more »

Russian fitness centers request landlords to reduce rent by 50% by year-end

Fitness restrictions with the use of QR codes were introduced in more than 35 regions at the moment; industry assets are closed in some regions, authors of the address said Read more »

Haryana to provide smartwatches to officials to track attendance

The GPS-enabled wristwatch costs around Rs 7,000- Rs 8,000 and the government agency has to pay for it. Haryana Chief Minister Manohar Lal Khattar announced that state government officials would get ... Read more »

Coronavirus Update | Active COVID-19 cases decline to 1,72,594

Russia on October 21 reported 1,036 coronavirus-related deaths in the last 24 hours as well as 36,339 new infections, both record daily highs. (Image: Reuters) India added 15,906 new COVID-19 ... Read more »

Crypto venue for bets on Trump, JLo and Covid faces US probe

WASHINGTON (BLOOMBERG) – It’s the go-to place for making crypto wagers on whether Donald Trump retakes the White House and Jennifer Lopez and Ben Affleck get engaged. It’s also under ... Read more »

EU climate chief puts off visit to Moscow, will meet with Russian delegation in Glasgow

In mid-September, Timmermans announced at a plenary session in the European Parliament that he was planning to visit Russia for talks on climate change in the run-up to the Glasgow conference Read more »

Tesla data storage contains more info than thought, Dutch researchers say

Photo: Depositphotos.com Investigators at the Dutch forensic institute NFI have succeeded in decrypting the data storage system operated by car maker Tesla, providing additional information that maybe useful to accident ... Read more »

First express train with vegetables, fruits to depart from Tashkent to Moscow in November

Kazakhstan, the country through which the train will travel, also joined the project, Deputy Prime Minister of Uzbekistan Sardor Umurzakov said Read more »

UItra-low interest rates ‘rip off' middle-class savers, Judy Shelton says

Judy Shelton says that “people on pensions” and those with deposits at the bank are “not getting any return.” Tom Williams/CQ Roll Call via AP Images Ultra-low interest rates combined ... Read more »

Uzbekistan, Russia to hold intergovernmental commission's meeting next week

According to Uzbek Deputy Prime Minister Sardor Umurzakov, the meeting will be held "in an absolutely new format," in particular media representatives will be able to attend it "from the beginning to the end" Read more »

China successfully launches satellite to test space debris mitigation technology

China successfully launched a new satellite on Sunday to test and verify space debris mitigation technologies. China successfully launched a new satellite on Sunday to test and verify space debris ... Read more »

Melbourne to ease more COVID curbs as 80% vaccination rate nears

Rank 10 | Melbourne, Australia | Score: 87.3 (Image: Wikimedia Commons) Melbourne, the world’s most locked-down city that emerged from its latest spate of COVID-19 restrictions on Friday, will see ... Read more »

SBI mega e-auction for properties on October 25: Check details

India’s largest lender State Bank of India (SBI) will conduct an electronic auction of mortgage properties for both commercial and residential properties. Bidders can bid for some home, plot or ... Read more »

How BioNTech went from a little-known biotech company to creating the Covid vaccine

It was Jan. 24, 2020 when BioNTech CEO Uğur Şahin knew that Covid-19 was likely to become a global pandemic.  Though it was over a month and a half before ... Read more »

Covid vaccine boosters are now available. Here's who's eligible for Pfizer, Moderna and J&J's shots

A patient receives their coronavirus disease (COVID-19) vaccine booster during a Pfizer-BioNTech vaccination clinic in Southfield, Michigan, U.S., September 29, 2021.Emily Elconin | Reuters Nearly 100 million people nationwide are ... Read more »

MC Interview | 10-15% correction if Nifty closes below 17,900: Mazhar Mohammad of Chartviewindia

Mazhar Mohammad, Founder & Chief Market Strategist at Chartviewindia.in feels Bank Nifty is looking very interesting with new highs and a channel breakout which has opened up a higher technical ... Read more »

Moldova staged gas crisis, its debt amounts to $433mln - Gazprom

Spokesman for the Russian gas giant Gazprom Sergei Kupriyanov said that no politics can be seen in the crisis with gas supplies to Moldova, as Gazprom cannot operate at a loss Read more »

Dolfinarium does nothing to ‘protect' sea animals, advertising watchdog rules

Photo: Depositphotos.com Dolphin park Dolfinarium in Harderwijk can no longer use the slogan ‘Discover, Experience and Protect’ in its promotional material,  advertising watchdog Reclame Code Commissie has decided, Animals rights ... Read more »

Double boost for property stocks as China pledges support for homebuyers amid industry slump and Evergrande pays up

Chinese property stocks jumped in one of their best weeks this year after the banking industry regulator pledged to support first-time homebuyers with easier mortgage financing. Concerns about debt defaults ... Read more »

Hong Kong's buyers shrug aside leftover projects in their rush for small, cheaper homes as robust supply spoils them with options

Hong Kong’s weekend home sales were mixed, with buyers piling in after new launches and the smallest flats that require less upfront payments, giving their collective cold shoulder to unsold ... Read more »

Panic-stricken investors drive down Chinese developer Agile's bonds amid rumours about its ability to repay loans

Chinese developer Agile Group Holdings on Friday tried to reassure investors that it has enough money on hand to service debt, including off-balance sheet loans, after rumours drove down its ... Read more »

Why China's slow economic growth is a bigger headache than its energy crunch and Evergrande's debt crisis

China is having an eventful month, marked by power-supply disruptions and the debt crisis of the country’s second-largest property developer, Evergrande. What does this mean for China’s post-pandemic economic recovery? ... Read more »

Evergrande staves off default, paying US$83.5 million of overdue offshore bond coupon before 30-day grace period runs out

China Evergrande Group paid the US$83.5 million interest payment on its offshore bond, just before a 30-day grace period runs out for declaring it in default, as the world’s most ... Read more »

China will set up a property tax pilot plan, taking small steps after years of dithering to tame home prices for common prosperity

China’s legislature will enact a property tax in selected regions across the country, rolling out the pilot plan as part of a wider “common prosperity” programme to enhance housing affordability ... Read more »

Chinese developers' overseas spending spree dries up as Beijing tightens screws to restore order at home

Chinese developers, who were among the most active investors in overseas property markets, have seen their investments slump this year and they are likely to remain depressed for many years, ... Read more »

Sri Lanka seeks $500-million loan from India for fuel purchases amid forex crisis

Petrol and diesel prices differ from state to state depending on the incidence of local taxes. (Representative image) The Sri Lankan government said it is continuing efforts to secure a ... Read more »

COVID-19: Travel rules have changed again - what are they now?

Coronavirus travel rules have been relaxed for those returning to England, allowing fully vaccinated holidaymakers to take cheaper lateral flow tests instead of PCRs. Read more »

Over 102 crore COVID-19 vaccine doses administered in India: Govt

(Image: Reuters) Over 102 crore COVID-19 vaccine doses have so far been administered in the country, including more than 70 lakh doses administered on Saturday, the Union health ministry said. ... Read more »

COVID-19: Travel rules relaxed as cheaper lateral flow tests replace PCRs from today

The change comes ahead of the half-term holidays and offers a "huge boost to the travel industry", according to the health secretary, Sajid Javid. Read more »

CIDCO to provide water connection to buildings sans OCs in certain pockets of Navi Mumbai int'l airport rehab area

Image Courtesy: Cidco CIDCO, the city planning agency of the Maharashtra government, has decided to provide water connection to buildings that are yet to obtain the Occupancy Certificate (OC) located ... Read more »

PhonePe withdraws petition against BharatPe's Postpe, to file fresh suit

The PhonePe app (Representative image: Twitter/@PhonePe_) Fintech major PhonePe has withdrawn its petition against BharatPe’s Buy Now Pay Later (BNPL) Postpe platform which had alleged violation of PhonePe’s trademark and ... Read more »

Cryptocurrency Prices Today on October 24: Bitcoin slightly falls, Ethereum surges over 2%

Cryptocurrency (Representative image) Cryptocurrency prices continue to be a mix of green and red on October 24. The global cryptocurrency market cap is Rs 191.25 lakh crores, a 1.10 percent ... Read more »

Petrol, diesel prices on October 24: Fuel rates increased for 5th straight day

Petrol and diesel prices differ from state to state depending on the incidence of local taxes. (Representative image) Petrol and diesel prices were increased for the fifth consecutive day to touch ... Read more »

Terrorist incidents have declined in Kashmir since August 5, 2019: Amit Shah

Amit Shah On his first visit to Jammu and Kashmir since the revocation of Article 370 in August 2019, Union Home Minister Amit Shah on Saturday defended the Centre’s decision saying that it has ... Read more »

Centre asks states/UTs to increase coverage of second dose of COVID-19 vaccine

Almost 15 million Americans have received a dose of the J&J vaccine, and nearly 70 million are fully vaccinated with Moderna. (Image: AFP) The Centre on Saturday urged states/UTs to ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic