ITV

Category: Television

  • CCI gives go ahead to Viacom18-Disney Star India marriage

    CCI gives go ahead to Viacom18-Disney Star India marriage

    MUMBAI: The big fusion has been given the go ahead. The Competition Commission of India  (CCI) has approved the proposed merger involving Reliance Industries Limited, Viacom18 Media Private Limited, Digital18 Media Limited, Star India Private Limited and Star Television Productions Limited, subject to the compliance of voluntary modifications.

    The CCI, in its post on the X platform, stated, “C-2024/05/1155 Commission approves the proposed combination involving Reliance Industries Ltd, Viacom18 Media Private Ltd, Digital18 Media Ltd, Star India Private Ltd, and Star Television Productions Ltd, subject to the compliance of voluntary modifications.”

     

    This approval was announced just a day before Reliance Industries Ltd’s (RIL) 47th annual general meeting. 

    A press release issued by the CCI later in the evening at 6:34 pm on the Press Information Bureau website stated: 

    The proposed combination envisages to combine the entertainment businesses (along with certain other identified businesses) of Viacom18, part of RIL group and SIPL, wholly owned by The Walt Disney Company (TWDC). As a result of the transaction, SIPL, currently a wholly owned entity of TWDC through its subsidiaries, shall become a joint venture (JV) which will be jointly held by RIL, Viacom18 and existing TWDC subsidiaries.
    RIL, either directly or indirectly, is engaged in several businesses such as exploration and production of oil and gas; petroleum refining and marketing; manufacture and sale of petrochemicals; manufacture and sale of chemicals; organised retail; media and entertainment activities; and telecommunication and digital services in India and worldwide.

    Viacom18 is, inter alia, engaged in the business of broadcasting of television (TV) channels, operation of an OTT platform, selling commercial advertisement space on TV channels, licensing of merchandise, and organization of live events in India and worldwide. Viacom18 is also engaged in the business of production and distribution of motion pictures.

    SIPL is engaged in a range of media activities including TV broadcasting and the production of AV content and motion pictures, operation of an OTT platform, and selling commercial advertisement space on TV channels and OTT platforms. SIPL is, directly or indirectly, a wholly owned entity of TWDC.

    STPL is a company incorporated in the British Virgin Islands and owned, indirectly, by TWDC.

    The Commission approved the proposed combination subject to the compliance of voluntary modifications.

    Detailed order of the CCI will follow.
     

    Earlier in February 2024, RIL’s subsidiary Viacom18 and Disney’s Indian unit, Star India, had unveiled plans for merging their businesses, setting the stage for the creation of one of the largest TV and digital streaming platforms in India.

    Under the merger arrangement, Viacom18’s media operations will be integrated with Star India Pvt Ltd (SIPL) through a scheme of arrangement approved by the court. The joint venture, which is valued at Rs 70,350 crore (approximately $8.5 billion) on a post-money basis, involves an infusion of Rs 11,500 crore (about $1.4 billion) by RIL to support the new entity’s growth strategy.

    The combined entity will position itself to compete with major players like Sony, Netflix, and Amazon, boasting a portfolio of 120 TV channels and two streaming platforms. The new board of directors will comprise 10 members, with five nominated by RIL, three by Disney, and two serving as independent directors.

    Nita Ambani is set to be the chairperson of the merged entity, while Walt Disney former executive Uday Shankar, will serve as vice chairperson. The merger is projected to be finalised between the last quarter of 2024 and the first quarter of 2025.

    Ownership in the joint venture will be structured as follows: RIL will hold a 16.34 per cent stake, Viacom18 will own 46.82 per cent, and Disney will have a 36.84 per cent share, according to the merger agreement’s terms.

    On 28 August, following the announcement, RIL’s shares remained steady, closing at Rs 2,999 per share. Notably, the CCI’s approval was announced after trading hours.

  • AMFI becomes a silver partner for PCI at the Paris 2024 Paralympics

    AMFI becomes a silver partner for PCI at the Paris 2024 Paralympics

    Mumbai: The Association of Mutual Funds in India (AMFI) announced its partnership with the Paralympic Committee of India (PCI) as a silver partner for the Paris 2024 Paralympic Games. This collaboration aims to celebrate the unparalleled spirit of para-athletes and convey a powerful message of resilience, focus, and commitment that resonates with both the sporting and investing communities.

    This year, India is sending a formidable 84-member strong contingent of para-athletes to the Paris Paralympics. These athletes embody the essence of determination and the ability to rise above challenges. AMFI’s partnership with PCI is not just about supporting a global sporting event but also about celebrating the extraordinary journey of these athletes who have overcome immense odds to represent the nation on a global stage.

    AMFI chairman Navneet Munot remarked, “Our para-athletes exemplify the indomitable human spirit through their courage and tenacity. Their path to the Paris 2024 Paralympic Games serves as a powerful testament to the idea that with determination, no obstacle is insurmountable and no dream unattainable. This partnership transcends mere collaboration; it is a tribute to every victory over adversity and every dream that soars high. AMFI takes immense pride in supporting these exceptional individuals, whose resilience and perseverance inspire us all to push our boundaries. We stand alongside them on this extraordinary journey, celebrating their unwavering commitment to representing our nation with pride and honour.”

    AMFI chief executive Venkat Chalasani commented, “The journey of our para-athletes is nothing short of inspiring. They epitomize the courage to dream, the strength to overcome, and the will to succeed against all odds. At AMFI, we are humbled to be a part of their journey and to witness their incredible stories unfold in Paris. This partnership with PCI for the Paris 2024 Paralympic Games is a tribute to their unwavering spirit and a celebration of every dream that takes flight. We are honoured to support their journey and to stand by them as they showcase their resilience and determination on a global stage.”

    PCI president Devendra Jhajharia said, “We are delighted to see a huge interest from corporates in supporting our athletes, and it truly feels we have come a long way over the years. Our athletes made history in Tokyo with overall 19 medals. We are confident the contingent will perform even better in Paris and make the nation proud. It is an honour to have partnered with AMFI in this endeavour. We welcome them on board as we get ready together to celebrate and cheer our Indian heroes on their quest to conquer Paris.”

    IOS Sports & Entertainment founder & managing director Neerav Tomar said “We are elated to support our Paralympics athletes via establishing a partnership between PCI and AMFI. Our Indian para-athletes have already showcased their tremendous skills on the world’s biggest stage, and have achieved numerous laurels and accolades over the years. To further their cause and to play a small role in ensuring their success means the world to us. We are thrilled to be a part of their journey and we wish them the best for the upcoming Games in Paris.”

    AMFI together with PCI, honours the courage, perseverance, and unyielding spirit of these athletes, who inspire us all to believe that no dream is too big and no challenge too great. With #EveryDreamWillPlay, we look forward to witnessing history in the making, as our para-athletes show the world the true meaning of resilience and determination.

  • News18 India hosts Diamond State Summit Maharashtra

    News18 India hosts Diamond State Summit Maharashtra

    Mumbai: After the resounding success of the Diamond States Summit (DSS) editions in Madhya Pradesh and Chhattisgarh, News18 India is now gearing up to bring the prestigious event to Maharashtra on 29 August in Mumbai. The event aims to highlight the significant achievements within the region, foster meaningful dialogue, and contribute to the overarching narrative of national growth.

    DSS Maharashtra edition will focus on conducting insightful discussions on issues critical to the state such as economic development, governance, law and order, and cultural preservation. The platform will bring together some of Maharashtra’s most influential political figures and policymakers, providing them with an opportunity to engage in meaningful dialogue and share their vision for the state’s future.

    Among the distinguished speakers and guests expected to attend the summit are Shri Eknath Shinde, chief minister of Maharashtra; Shri Devendra Fadnavis, deputy chief minister of Maharashtra; Shri Chandrashekhar Bawankule, Maharashtra BJP president; Shri Sudhir Mungantiwar, minister of forests and culture, Maharashtra; Shri Deepak Kesarkar, minister of school education and Marathi language, Maharashtra; Shri Ashish Shelar, president, Mumbai BJP; Shri Praful Patel, Rajya Sabha MP, NCP; Shri Milind Deora, Rajya Sabha MP, Shiv Sena; Shri Vivek Phansalkar, police commissioner, Mumbai; and Shri Brijesh Singh, principal secretary, Maharashtra CMO.

    This edition of DSS promises to be a significant event, further cementing News18 India’s commitment to providing a platform for constructive conversations and will also offer insights into the challenges and opportunities that will shape the state’s future.

  • NBDA delegation meets prime minister Narendra Modi

    NBDA delegation meets prime minister Narendra Modi

    MUMBAI: The news broadcast industry has been complaining about its aches and pains in the face of shrinking ad revenues courtesy competition and the rise of digital for some time now. With a new dispensation in charge at the ministry of information broadcasting in the form of minister Ashwani Vaishnaw, and prime minister Narendra Modi at the helm of the country, a delegation from the  News Broadcasters & Digital Association (NBDA) led by its president, Rajat Sharma, called on the two leaders to share the industry’s woes with them. 

    The delegation informed Modi about the industry’s health broadcast, constraints, problems, and challenges faced in the era of digital revolution which was severely impacting and affecting the growth of the ‘news’ genre.
     

    The other members of the delegation were  News 24 chairperson-cum-managing director Anuradha Prasad Shukla, TV18 Broadcast managing director Rahul Joshi, TV Today Network vice-chairperson & managing director Kalli Purie Bhandal, ABP Network director Dhruba Mukherjee, Zee Media advisor Anil Kumar Malhotra, NDTV director Sanjay Pugalia, Eenadu Television director I. Venkat, Sun TV managing director R Mahesh Kumar, Bennet Coleman & CEO news broadcasting business COO Varun Kohli and NBDA secretary general Annie Joseph.

     

  • Decathlon/Kipsta unveils new official match balls for UEFA Europa and conference leagues

    Decathlon/Kipsta unveils new official match balls for UEFA Europa and conference leagues

    Mumbai: KIPSTA teams up with UEFA and becomes its official match ball supplier for the UEFA Europa League and the UEFA Conference League. This partnership will start with the 2024 2025 season and run until the end of the 2026 2027 season.

    Answering the most technical standards required to play football at the highest level and being awarded with the FIFA quality pro label, the KIPSTA ball has been chosen for the comfort of control given to the player, its great landing zone precision, as well as its outstanding grip, which facilitates the use of the ball in all weather conditions. The thermobonding technology used for its conception also guarantees better durability of the ball, ensuring its premium quality from the beginning to the end of the match.

    Decathlonglobal chief sports and products officer Fabien Brosse said, “Decathlon is delighted to embark on this wonderful partnership with UEFA as the official match ball supplier of the UEFA Europa League and UEFA Conference League. Our ball being selected, supports and confirms our continuous efforts to produce quality and highly technical products, which have the capacity to be used at the highest level of the sporting game.”

    UEFA marketing director Guy-Laurent Epstein added, “We look forward to seeing the new Kipsta UEFA Europa League and UEFA Conference League balls in action across Europe as a new, exciting season of UEFA’s men’s club competitions kicks off. In addition, we are delighted to see the ambitious plans that have been put in place by Decathlonto to promote and sell the balls through their extensive retail and online networks.”

    While many people have never played with a professional ball, KIPSTA and UEFA are uniting to change this dynamic. By teaming up, they are proving that a ball at an accessible price can be of great quality and meet the highest professional standards.

    This quality level has been achieved by KIPSTA via a fruitful collaboration with multiple players of different levels, resulting in having the most tested ball in the world. The tests of the ball’s prototypes were also conducted with more than 10 professional football teams in France.

    However, the quality of the ball doesn’t compromise its accessibility, following KIPSTA’s business model: to reach more footballers around the world with excellent and sustainable products that meet professional standards and are accessible to everyone.

    The ball is now available online and in all Decathlon stores.

    Decathlon federated sports director Frédéric Boistard added, “Football is a sport that completely embodies Decathlon’s Ready-To-Play motto. It can be played anywhere, by anyone, as long as you have a group of people and a ball. KIPSTA aims at providing a crucial element to each match, therefore enhancing every player’s experience on a field, whether it is for professional ones during a UEFA match, or in a school playground for young beginners.

  • What the Zee-Sony settlement means

    What the Zee-Sony settlement means

    (Below is  Elara Securities’ Karan Taurani’s  perspective  on the settling of the dispute between Zee and Sony)

    Mumbai: The above development (settlement by Sony and not imposing a $ 90 mn termination fee to Zee) has no material impact in terms of earnings estimates as this case was a status quo with regulators. We had not factored any adverse impact of the case (Sony Zee merger termination) in our earnings estimates. However, this is seen as a clear respite to ZEEL’s core broadcasting business, which is trading at compelling valuations of seven times to one-year forward PE and has the potential to move towards our target multiple of 11 times PE core broadcasting business.

    We continue to maintain our positive stance on ZEEL, as we expect better growth rates in the festive season (Q3FY25), led by higher ad spends within FMCG verticals; further profitability too will continue to improve helped by cost-cutting initiatives, improved efficiencies, and lower losses in ZEE5, which will drive valuation re-rating. We have a BUY rating on ZEEL with a TP of Rs 210.

    Enclosed below is the link to the last update on Zee: https://tinyurl.com/54updv7x

    Highlights    

    – In an update to the stock exchange, Zee and Sony Pictures India (CMEPL and BEPL) have entered into a settlement to withdraw applications pending lawsuits, claims and counterclaims including a $ 90 mn termination fee, damages etc.

    – The agreements include a) Settlement for all ongoing disputes, b) Withdraw all applications, claims and counterclaims against each other (including a $ 90 mn termination fee), and c) Releasing each other from all claims regarding the transaction documents.

    – The parties have agreed to withdraw all pending applications, claims, and counterclaims filed before the Singapore International Arbitration Centre (SIAC)

    – On 22 Jan 2024, Sony terminated the merger cooperation agreement, and the composite scheme of arrangement originally signed on 22 Dec 2021. Sony immediately sought $ 90 mn in termination fees by filing an appeal with the Singapore International Arbitration Centre (SIAC).

    – The merger was primarily called off due to a dispute on the leadership of the merged entity.

    – The ZEEL had also filed case against Sony India seeking a $ 90 mn termination fee

  • Zee Entertainment, Culver Max Entertainment & Bangla Entertainment smoke peace pipe

    Zee Entertainment, Culver Max Entertainment & Bangla Entertainment smoke peace pipe

    Mumbai: It looked like it would be a never ending slugfest between Zee and Sony with each going to court against the other. But now that time has passed and the tempers have cooled, Zee  Culver Max Entertainment Pvt Ltd (CMEPL) operating as Sony Pictures Networks India (SPNI), together with its group company Bangla Entertainment Pvt Ltd (BEPL), have decided to call of their quarrels. The companies have arrived at a comprehensive non-cash settlement, amicably resolving all disputes related to the merger cooperation agreement and the composite scheme of arrangement.

    As part of the settlement, the firms have mutually agreed to withdraw all respective claims against each other, in the ongoing arbitration at the Singapore International Arbitration Centre, and all related legal proceedings initiated in the National Company Law Tribunal (NCLT) and other forums. The companies will also withdraw the respective composite schemes of arrangement from the NCLT and inform the relevant regulatory authorities.

    Under the terms of the settlement, none of the parties will have any outstanding or continuing obligations or liabilities to the other. The settlement stems from a mutual understanding between the companies to independently pursue future growth opportunities with a renewed purpose and focus on the evolving media and entertainment landscape, signifying the definitive conclusion of all disputes.

    For media observers, this is an agreement which is coming as a breath of fresh air. 

  • Warner Bros Discovery Kids adds new shows for August & September

    Warner Bros Discovery Kids adds new shows for August & September

    Mumbai: This monsoon season, Warner Bros Discovery Kids Entertainment offers a range of new and nostalgic shows. Viewers can enjoy adventures and battles across Cartoon Network, POGO, and Discovery Kids.

    Cartoon Network kicks off with ‘Dragon Ball,’ airing every Sunday at 2:00 pm, showcasing Goku’s early adventures. New episodes of ‘Larva’ will continue every Monday to Friday at 2:00 pm and 6:30 pm.

    On POGO, new episodes of ‘Jay Jagannath’ will air every Monday to Friday at 9:30 am, featuring the action and humor of Jagan and his companion Balram.

    ‘Chhota Bheem’ and ‘Little Singham’ will have new episodes on Sundays. ‘Chhota Bheem’ faces a demon in ‘Mahashaitan ka Mahavaar’ at 11:30 am, followed by ‘Little Singham’ battling demons in ‘Narkasur & Kans: Andhera aur Dhwansh’ at 12:15 pm.

    Discovery Kids will also celebrate Janmashtami with specials including ‘Titoo,’ ‘Kris Roll No. 21,’ and ‘Fukrey Boyzzz’ on 26 and 27 August at 9:30 am.

  • ‘Ek Bharat Shreshtha Bharat’ live on Zee News on 27 August 2024

    ‘Ek Bharat Shreshtha Bharat’ live on Zee News on 27 August 2024

    Mumbai: Zee News is hosting the ‘Ek Bharat Shreshtha Bharat’ event on Tuesday, 27 August 2024, in New Delhi. This event will bring together a distinguished panel of leaders, policymakers, and industry experts to discuss the crucial role that individual states play in shaping India’s future. Under the theme ‘States Make A Nation,’ the event will highlight how the unique strengths of each state contribute significantly to the nation’s overall progress, fostering a collective identity and shared purpose.

    Prominent leaders, including Shri Nitin Gadkari, union minister of road transport & highways; Shri Jitan Ram Manjhi, union minister of micro, small and medium enterprises; Shri Chirag Paswan, union minister of food processing industries; Shri Kiren Rijiju, union minister of parliamentary affairs and ministry affairs; Shri Pushkar Singh Dhami, chief minister of Uttarakhand; Shri Vijay Kumar Sinha, deputy chief minister, Bihar; Shri Harsh Malhotra, mos: ministry of road, transport & highways; Smt. Smriti Irani, former minister of women & child welfare; Shri Manish Sisodia, former deputy chief minister of Delhi; Shri Manoj Tiwari, member of parliament, North East Delhi; Shri Sudhanshu Trivedi, rajya sabha member; Smt. Atishi, water minister, Delhi; Shri Pawan Khera, chairman, media & publicity deptt, AICC; Smt. Supriya Shrinate, chairperson, social media & digital platforms, AICC; Shri Acharya Balkrishna, managing director of Patanjali Ayurved Ltd; Shri Ramesh Agarwal, chairman, Agarwal Packers & Movers Ltd; and Dr Gunwant Singh Mangla, cmd, Mangla Steel Ltd. will be among the esteemed attendees, sharing their insights on how states can further contribute to India’s vision for the future. It will further focus on education, infrastructure, culture, and social welfare, the initiative fosters a sense of solidarity and unity that is vital for India’s continued growth and development.

    Zee Media Corp Ltd (ZMCL) CEO Karan Abhishek Singh stated, “At Zee Media Corporation Limited, we recognize that every state has its own narrative and its role in shaping the future of our country. This initiative allows us to bring these stories to the forefront, fostering a deeper appreciation for the cultural, economic, and social diversity that enriches our nation. Through this platform, we aim to bridge divides, encourage cooperation, and build a stronger, more progressive India where every state’s unique strengths are acknowledged and valued.”

    Emphasising the key purpose, Zee News managing editor Rahul Sinha highlighted, “Ek Bharat Shreshtha Bharat exemplifies the core of our national identity—our unity in diversity. We look forward to bringing together leaders and voices from across India to discuss and celebrate the unique contributions of each state. This initiative highlights how our collective efforts and shared values drive India’s growth, fostering a stronger, more cohesive nation.”

    Citizens nationwide can watch this event live on Zee News from 9:30 am onwards. Through ‘Ek Bharat Shreshtha Bharat,’ Zee News aims to showcase impactful stories that enhance understanding and promote unity, reflecting our dedication to a well-informed and engaged global community.

  • COLORS presents new show ‘Suman Indori’ premiering on 3 September

    COLORS presents new show ‘Suman Indori’ premiering on 3 September

    Mumbai: Family dynamics often involve a subtle struggle for control within the household. COLORS introduces “Suman Indori,” a family drama that explores the tension between an elder sister-in-law and her younger counterpart. The show centers on the power dynamics between Devika, the elder sister-in-law, and Suman, the younger sister-in-law, who marries Teerth, a member of a prominent family. Starring Ashnoor Kaur as Suman, Zain Imam as Teerth and Anita Hassanandani as Devika, and produced by Pratik Sharma of Studio LSD, ‘Suman Indori’ premieres on the 3 September and will air daily at 6:30 pm on COLORS.

    Set in Indore, “Suman Indori” tells the story of Suman, a street food vendor whose life changes when she marries Teerth, an aspiring politician from a powerful family. As she navigates her new role as a daughter-in-law, she encounters opposition from her elder sister-in-law, Devika. The two women find themselves in a continuous power struggle. Teerth, meanwhile, views his marriage to Suman as a means to advance his political career. The show follows their interactions and the resulting shifts in household dynamics.

    Talking about boarding the show, Anita Hassanandani said, “With Suman Indori, I’m stepping into the role of Devika, a tez-tarrar Jethani of a powerful political family. Devika’s the queen bee who loves calling the shots, whether it’s deciding the dinner menu, or controlling the family business. To the world, her devrani, Suman, is just the new bahu, but to Devika, she’s a ticking time bomb with that annoying charm of winning people over without even trying. What follows is a classic devrani-jethani showdown packed with power plays and mind games. Here’s hoping that viewers will rally behind the show by showering it with love!”

    Excited to essay the role of Suman, Ashnoor Kaur said, “I’m thrilled a show like Suman Indori marks my comeback on television and it is my third collaboration with COLORS. I’ll be seen embodying Suman, a resilient young woman, the breadwinner of her family, who goes from being the ‘beti’ of her city’s chaat kingdom in Sarafa bazaar to a daughter-in-law of a powerful family after a reluctant marriage. That’s when the tashan begins, between her and her jethani, who sees her as a potential usurper of her dominion over the household. But Suman being Suman, is prepared to dish out all the hurdles Devika throws her way. What I love about my character is that in a world where everyone is chasing power, she is feisty and remains true to her values.”

    Sharing his thoughts about essaying the role of Teerth, Zain Imam said, “It’s incredible to be back with COLORS for a show as special as Suman Indori. I will be seen portraying Teerth, an opportunistic politician who’s always calculating his next play to attract goodwill. He marries Suman as a stunt that will get him brownie points in people’s view. I’ve spent countless hours observing the nuances of how politicians conduct themselves. This role allows me to showcase my acting range, and I can’t wait for audiences to see what I’ve brought to the screen.  Among all the shows out there, the beauty of Suman Indori is that it captures the corridors of power within a family.”

    Get ready to witness the drama in ‘Suman Indori’ premiering on 3 September and thereafter every day at 6:30 pm only on COLORS.