ITV

Category: TV Channels

  • ZEE Entertainment scales up DP World ILT20 goals

    ZEE Entertainment scales up DP World ILT20 goals

    Mumbai: ZEE Entertainment Enterprises Ltd, content and entertainment powerhouse and the official broadcasting partner of the global cricket league, DP World International League T20 (ILT20), has unveiled its plans for an exciting third season, set to take place from 11 January 2025. The 34-match tournament will run for a month and culminate on 9 February 2025. The plans include creating a memorable month-long cricket carnival experience for cricket lovers, especially from India, expanding its viewership base by including South Indian channels and targeting 230 million viewership in the upcoming league. Cricket fans and sports enthusiasts in India and around the world can exclusively watch the LIVE action on ZEE Entertainment’s 15 linear channels as well as stream it for free on its OTT platform ZEE5, every evening.

    As the third season approaches, ZEE Entertainment promises to deliver captivating action engagingly and dynamically across its linear channels and OTT platform, ZEE5. Commenting upon this announcement, Zee Entertainment Enterprise Ltd chief growth officer – digital & broadcast revenue Ashish Sehgal said, “We aim to offer our cricket lovers a sporting carnival experience that combines high-class cricket at a comfortable, luxurious venue. This month-long event will offer an innovative and immersive experience for cricket fans across the globe. We are particularly focused on inviting Indian travellers to visit Dubai, offering them a chance to enjoy cricket in the UAE. This event also allows advertisers to connect with their premium customers and promote their premium brands.”

    Talking about the tournament known to be the second-most popular league outside of the Indian Premier League (IPL), DP World ILT20 CEO David White said, “Firstly, the uniqueness of the DP World ILT20 lies in the fact that we can have nine international players vis-à-vis the standard four. What also sets ILT20 apart from other leagues is that it does not have a home-and-away format. With three venues – Sharjah, Dubai and Abu Dhabi every team feels at home. We need to cultivate strong team loyalty now.  The UAE as a destination boasts of fantastic stadiums, ideal weather in the early part of the year and a comfortable environment for players. The Emirati people are renowned for their warm hospitality, welcoming visitors from around the world. The presence of top players from international teams lends an international flavour to the event. We are working closely with ZEE to establish Dubai as a premier sporting destination and are open to considering an alternative window to make sure that there is no clash in the future.”

    DP World ILT20, in its second season, drew an impressive 200,000 attendees across over 30 games. The league is the second most-watched T20 cricket league globally, with a total of 348 million unique viewers from around the world, including a staggering 221 million viewers from India. This success was fueled by ZEE Network’s broadcasting strategy, which leveraged a combination of ZEE’s 10 Linear TV Channels and its OTT Platform ZEE5. With a notable 46 per cent share of female viewership and 55 per cent share of youth viewership, the league’s broad appeal in India underscores its status as household entertainment.

    The tournament is aiming for an even larger audience in its third season, targeting 230 million viewers. The strategies being employed to increase its footprints are multifaceted, focusing on the Indian market, which includes cricket lovers, advertisers, and the addition of South Indian channels.

    The matches generated a massive response last season from markets like Uttar Pradesh, Madhya Pradesh, Punjab, Gujarat and Maharashtra. This year the tournament’s on-air promotion will take place across 40 channels. DP World ILT20 Season 3 will also focus on South Indian channels as part of its strategy to expand viewership.

    The league plans to announce new signings next month on 15th September. The existing roster continues to be strong with the presence of players like Sunil Narine, Andre Russell, David Warner, Jack Fraser McGurk and Shimron Hetmyer, among others. The league, on the whole, boasts of 60,000 registered cricketers.

    The franchise-style tournament DP World IPL T20, comprises six teams and 34 matches that are played across the UAE. The league’s six franchise teams feature Abu Dhabi Knight Riders (Kolkata Knight Riders), Desert Vipers (Lancer Capital), Dubai Capitals (GMR), Gulf Giants (Adani Sportsline), MI Emirates (Reliance Industries), and Sharjah Warriors (Capri Global).

     

  • GRB Media Ranch announces format and factual deals with African exhibitors

    GRB Media Ranch announces format and factual deals with African exhibitors

    Mumbai: GRB Media Ranch CEO Gary R Benz has announced several format and factual program deals with African exhibitors, brokered by GRB Media Ranch sales executive Liz Levenson. The first international format sale ever of GRB Studios’ long-running series, Untold Stories of the E.R., has been licensed to Khelgejo for production in Africa. The 150-plus-episode docuseries has been licensed into 200-plus countries over its 20-year life.

    Untold Stories of E.R., licensed to Khelgejo for production in Africa, showcases intense true stories demonstrating the dramatic nature of medicine practiced under pressure, where every moment can be a turning point. See how a doctor’s personal blend of expertise, coolness under fire, and decision-making ability are challenged by unpredictable circumstances and unexpected conditions.

    Blind Dating was licensed to production company Aby Media for production in Africa: Swipe right on the person of your dreams in this studio-based dating game show! Blind Dating creates perfect matches between three single men and three single women. In each episode, without seeing each other, the participants must find their love match by simply answering questions while digging for clues – and some dirt – on social media. Watch these singles try to impress, get picked, and go home with a mate. A hit show in French Canada for many years.

    Wild Zambezi was licensed to Ster Kinekor for theatrical release in South Africa and sold to The Africa Channel for worldwide distribution, excluding Africa. The series consists of eight 60-minute episodes, exploring the Lower Zambezi National Park in Zambia and highlighting the challenges posed by the encroachment of civilization. This development reflects the broader existential crisis facing vulnerable ecosystems worldwide.

    Relative Justice, a court program, was licensed to VIU for Africa for seasons one and two, each consisting of 150 episodes of 30 minutes: Family drama is common, often surfacing as arguments around the dinner table. Usually, these disagreements are harmless, sometimes even humorous. However, when family conflicts escalate, especially over money, they can become destructive. *Relative Justice* is a daily arbitration-based reality court show where judge Rhonda Wills handles these family disputes.

    Benz stated: “GRB Media Ranch is pleased to announce our African formats and factual program deals with new clients including The Africa Channel, Ster Kinekor, VIU, and Aby Media.  We continue to acquire program of broad but targeted interest, and we are especially excited about the first international format sale to Khelgejo Productions of our GRB Studios’ created show, Untold Stories of the E.R. and to see a locally produced version in Africa. As we say, at GRB Media Ranch, we’ve got stories!”

  • The Reliance-Disney merger’s impact on the media ecosystem: an Elara perspective

    The Reliance-Disney merger’s impact on the media ecosystem: an Elara perspective

    MUMBAI: We believe the merger of Viacom18 and Star India will have a big impact on the entire M&E ecosystem as the combined entity will command a huge market share. The merger will create a large media juggernaut with 108 plus channels (Star India has 70+ TV channels in eight languages whereas Viacom has 38 TV channels in eight languages), two large OTT apps (Jio Cinema and Hotstar) and two film studios (one each of Reliance and Disney India). Large market opportunity (TAM) for the merged company, as India’s M&E market for print, TV and digital is at $18 billion in CY22, poised to post a CAGR of 8.2 per cent  over CY22-25 (Source: EY FICCI).

    Post the merger, the combined entity will command a TV advertisement/TV subscription (excluding distributors/DTH/MSO revenue)/Total TV market share of 40 per cent /44 per cent /42 per cent  (as of FY23) respectively. The merged entity is expected to command a digital OTT market share of ~34 per cent  in CY23, while the TV viewership share in top 10 channels (according to BARC) is ~40 per cent  as of CY23. The consolidation between RIL and Disney on the India TV side could have a negative impact on other linear TV broadcasters, such as Sun TV, Zee, Sony, and others, as they may not be scale up on market share. The merged entity’s focus on maximizing market share through increased investments in content, synergies, and enhanced marketing power poses challenges for individual broadcasters to compete and grow. With a large customer base across various genres, including regional genres and urban GEC, the combined entity aims to dominate key markets, potentially leading to market share loss and challenges for other players, including the possibility of smaller channels shutting down.

    Jio Cinema + Disney Hotstar merger – potential negative for global OTT giants

    The merger of JioCinema and Hotstar poses a challenge for global OTT platforms, as India’s market values bundling and is price sensitive. The combined entity can offer a comprehensive package including web series, movies, sports, originals, and a global catalogue. This bundled premium plan, possibly in collaboration with Jio’s large subscriber base, may hinder the ability of global OTT platforms to raise Average Revenue Per User (ARPU).

    Better prospects of profitability in the medium to long term

    The merger may result in improved profitability for the combined entity as there may be a reduction in employee cost, production cost and marketing costs on the TV side and content costs, particularly on the OTT side, which could contribute to a more sustainable path to profitability over the medium to long term. Currently, both platforms are facing heavy losses due to high content costs, and Jio Cinema relies solely on AVOD without significant paid subscriber revenue. With the combination of Hotstar and JioCinema, the merged entity can enhance its subscription revenue by increasing subscription prices and attracting a larger subscriber base. Reliance may drive the entire business through Jio Platforms, with a significant influx of ad revenues in digital advertising. The digital advertising market, being a winner-takes-all business, heavily relies on scale. They may also have a pay-based mechanism via Jio Cinema/Hotstar at a larger scale which will propel healthy subscription revenue over the medium term

    Monopoly in sports properties may lead to higher ad revenues

    On the sports front, the merged entity is set to become monopolistic, with Disney and Jio collectively controlling approximately ~75-80 per cent  of the Indian sports market across both linear TV and digital platforms. This dominance in sports, primarily cricket, positions them to command a substantial share of the overall ad market, showcasing strong growth in an industry where sports is a key driver of viewership on both linear TV and digital platforms. In CY22, sports adex (TV+Digital) in India stood at  Rs 71billion (according to GroupM) out of which Disney India had a contribution of ~80 per cent . The combined entity will have lucrative sports properties like Indian Premier League (both TV and digital), ICC cricket tournaments (both TV and digital), Wimbledon, Pro Kabaddi League, BCCI domestic cricket etc.

    Telco customer retention and bundling

    Telecom companies have used OTT as a value-add to retain/gain subscribers. And OTT companies piggyback on telecom plays to scale up their subscriber base – TSPs (telecom service providers) have larger access to a wide variety of customers. With the vast content library of Jio and Disney, the merged entity’s content, spanning 1) international movies, 2) web series, 3) sports content and 4) catch-up TV content, could prove advantageous for Jio subscribers and make it a one-stop content hub. There might be initiatives such as a Jio Prime offering, providing subscribers access to content at an affordable or even free price through last mile resource and 5G wireless access. The company will have a big advantage of last mile with Jio having a subscriber base of more than 450 million smartphone users This will hit Bharti Airtel as it has tried to tie up with OTT players in the content ecosystem to offer value-add. Thus, Bharti Airtel may have to invest heavily in own content or shape partnerships with global OTT giants such as Netflix and Amazon or other OTT platforms to generate clout in the content ecosystem.

    Synergy prospects

    – The ad revenue potential from IPL is expected to increase significantly with the merged entity having exclusive rights (TV+Digital) to IPL. This consolidation may result in bundled advertisement revenues, potentially mitigating the higher cost of IPL rights and reducing overall losses; due to IPL rights being split between TV and digital between two different platforms and digital platform offering IPL free, there was a big dent in the IPL revenues on TV, which could see some respite.

    – The merger is anticipated to bring about restructuring in employee costs, reduced production expenses, and lower advertisement costs for TV. These potential cost synergies could contribute to improved margins for the merged entity. On the sports side too, content costs may pare sharply for TV, digital over the medium to long term, given that fewer platforms may bid aggressively for expensive properties.

    – In digital, content cost inflation (content cost for web series 3-5x higher than for TV non-fiction shows, per episode) has been sharper due to heavy fragmentation in the OTT market and entry of global giants with deep pockets. With the merger, content cost in digital may see much lower growth, which may improve the unit economics for the OTT business, potentially resulting in lower EBITDA losses for Jio Cinema and Hotstar.

    – Considering the critical role of technological advancements in the success of OTT platforms, the integration of Disney’s technological expertise is expected to enhance the user experience on Jio Cinema. This improvement may subsequently drive higher subscriber numbers and revenue growth.

    Risks

    – Post CCI approval, NCLT (National Company Law Tribunal) approval may take another eight to 12 months

    – A below par customer experience on the video apps despite a wide variety of content may not augur well in subscribers paying for the same; global OTT giants like Netflix have a very superior experience to command a premium ARPU

    – Continuance of hefty losses of the merged entity over the near to medium term due to high costs sports properties (IPL, ICC tournaments & BCCI bilateral rights) could negatively impact valuation prospects for the merged entity

    Shareholding pattern of the merged entity

    After the merger, the ownership structure of the combined entity will be as follows: Reliance will hold 53 per cent  stake through cash infusion, after acquiring Paramount’s balance stake and factoring TV18 and Viacom 18 stake in JV, which are RIL’s subsidiaries;  Disney will hold 36.8 per cent , whereas the Bodhi Tree (stake through Viacom18) /TV18 (ex of Reliance stake) will hold balance 6.2 per cent /3.8 per cent  stake respectively.

    Valuation

    The joint entity, including cash infusion, is valued at  RS 704bn. This valuation comprises  Rs 115 billion in cash,  Rs 330 billion for Viacom18 (including Jio Cinema) and the remaining  Rs 260 billion (~USD 3.2 billion) is the combined valuation of Star India and Hotstar. This valuation of Star India and Hotstar is much lower compared to pre-covid valuation of $12-13 billion which may be due to 1) loss of IPL digital rights leading to ~50 per cent  ad revenue decline and 40 per cent  subscription revenue decline for Hotstar, 2) TV ad revenue remaining flat over FY19-23 and 3) sports content which may continue to incur hefty losses in linear TV due to slower revenue growth. From a valuation standpoint, the impact on TV18 (which owns 13 per cent  in Viacom18) is minimal to negative, as the combined entity is expected to generate substantial losses in the near term due to sports content. Additionally, TV18’s stake in the merged entity is valued at  Rs 42 billion, implying a hefty premium for its news business at  Rs 40 billion (considering TV18’s overall current market cap of  Rs 82 billion).

  • 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.