ITV

Tag: SPNI

  • Sony YAY! enters in Malaysian market, and expands its presence in South Asian region

    Sony YAY! enters in Malaysian market, and expands its presence in South Asian region

    Mumbai: India’s leading kid’s entertainment channel Sony YAY! launches on Telekom Malaysia Berhad (unifi TV). With a lineup of fan-favorite shows, the channel debuted in the Malaysian market on 1 July 2022 to expand its presence further across the South Asian region.

    Sony YAY! launched in Tamil with a total of seven popular kid’s entertainment shows including Sab Jholmaal Hai (Honey Bunny), Guru Aur Bhole, Taarak Mehta Ka Chhota Chashma, Kicko & Super Speedo, Paap-O-Meter, Prince Jai aur Dumdaar Viru and HaGoLa.

    Sony YAY! is expected to tap into the prominent Tamil-speaking population of the region which comprises a total of 1.8 million people – the third highest in the world, after India and Sri Lanka. Considering the significant size of the Tamil-speaking audience in this region, the launch is a perfect opportunity for the channel to extend its content offerings to an expanded audience base across the South Asian market. 

    With notable titles and the top two shows such as Sab Jholmaal Hai (Honey Bunny) and Paap-O-Meter, Sony YAY! will cater to the Tamil speaking audience of Malaysia along with the Indian diaspora of the region which accounts for close to 6.8 percent of its population. The launch of the channel in Tamil on one of the largest platforms Telekom Malaysia Berhad (unifi TV) is further set to aid the channel in terms of reach and access. Sony YAY! will be accessible to the subscribers of unifi TV under the Varnam Plus Pack and the Ultimate Pack.

    With a growing audience base of around 43 million, Sony YAY! has grown exponentially since its inception in 2017 and the expansion into newer markets in South Asia strengthens the channel’s commitment to providing world-class entertainment to young audiences across the globe. This foray into Malaysia further accelerates the consistent drive to transform the global entertainment sector for Sony Pictures Networks India (SPN). 

    Speaking on this, Sony YAY! EVP and business head Leena Lele Dutta said, “Over the span of five years since we launched Sony YAY! the channel has rapidly risen to become the #1 kid’s entertainment channel in India. The current Indian channel portfolio in Malaysia has a huge potential and with the launch of Sony YAY! In Malaysia, we will be leveraging this opportunity and extending our diverse range of enthralling kid’s entertainment options to an extremely new and vibrant set of audiences. The launch has made us optimistic about newer opportunities that we can explore to reach young audiences across geographies.”

    Sony Pictures Networks EVP and head of international business Neeraj Arora commented, “As one of the fastest-growing kid’s entertainment channels in the Indian subcontinent, Sony YAY! has consistently made efforts to become the ultimate entertainment solution in the kid’s genre. The channel has curated and brought a bouquet of international shows and IPs to Indian audiences. This partnership with Telekom Malaysia Berhad will help us cater to the appetite of the rapidly growing audience across the Malaysian market and solidify our position in the global kid’s entertainment segment by bringing popular Indian shows to global audiences.”

  • Sony YAY! expands its toon universe with two new shows ‘Ha.Go.La’ and ‘Robotan’

    Sony YAY! expands its toon universe with two new shows ‘Ha.Go.La’ and ‘Robotan’

    MUMBAI: Sony Pictures Networks India’s (SPNI) kids channel Sony YAY! has announced that it will further grow its toon universe of 100+ toons and increases its content library of over 700+ hours with two brand new show launches – Ha.Go.La‘ and Robotan.

    Ha.Go.La a conversational comedy, set in the Northern heartlands of India, transports kids into the world of three crazy friends – Hathgola, Goli and Lattha, where inanimate objects come to life to go on misadventures of a lifetime. In another new launch Robotan, a friendly robot – Robotan and his creator cum friend Kan- chan will come together to take kids on a rib-tickling joy ride with their hilarious adventures.

    Sony YAY! head programming Ronojoy Chakraborty said, “Kids are at the centre of the Sony YAY! universe, and it is no different as we bring to our audiences a new homegrown offering – Ha.Go.La. The show celebrates the nuances of day-to-day seemingly mindless, giggly meandering conversations of kids, with a cultural setting close to home. With the launch of these two brand new shows, we increase the width of likeable genres that Sony YAY! offers to kids.”

    Actor and musician Raghubhir Yadav said, “Lending my voice to songs of animated characters has always been a thrilling experience for me. For a brief period, you enter the world of these funny characters and learn to laugh and have fun in their unique universe. With Ha.Go.La, I got to enjoy the unique and uncanny friendship between three household objects and this new song brings that out wonderfully. I hope that kids will love singing along to this fun song we have curated for them.”

  • Sony launches sustainability guidelines for content production

    Sony launches sustainability guidelines for content production

    Mumbai: Sony Pictures Networks India (SPNI) has launched sustainability guidelines for content production in an industry-first initiative, with a commitment to lead the way for the industry by adopting green practices. These guidelines aim to have SPNI achieve a zero environmental footprint by 2050.

    To begin with, SPNI will implement these guidelines in a few of its shows before extending them to all ongoing productions. The guidelines outline a course of action that all SPNI associated production houses and partners must follow. They have been carefully curated based on extensive industry research conducted across content formats such as fiction, non-fiction, and digital.

    “The measures incorporated cover a wide range of operations and include actionable initiatives such as a complete ban on single-use plastic, thermocol for set design and flex for printing. It also includes using low-VOC paints, FSC certified timber, ethical and eco-friendly cosmetics, and implementing mandatory waste segregation and recycling policy. Furthermore, it recommends training and capacity-building initiatives to develop a workforce and infrastructure sensitised to the ongoing processes associated with the green shift,” said the statement.

    The initiatives emphasised in the sustainability guidelines are a step towards carbon accounting and carbon footprint mapping for all shows, further extending to other formats of operations. These guidelines will help to accelerate the transition to a fully green work model. An essential aspect of implementing green practices is the audit mechanism, which will benefit the organisation by tracking progress. SPNI is committed to making tangible progress toward reducing the ecological footprint by pursuing sustainable activities and partnerships to combat climate change and preserve natural resources, ensuring a healthy and sustainable planet.

    Sony Pictures Networks India’s Managing Director & CEO, N.P. Singh said, “Led by SPNI’s philosophy of taking greener steps, we have parked our investments in a portfolio of green funds focused on developing companies dedicated to environmental causes such as renewable energy, waste and water management, land use and energy-efficient construction, clean transportation, and climate change, among others”.

  • Sony welcomes NCLT order to start Manthan’s liquidation process

    Sony welcomes NCLT order to start Manthan’s liquidation process

    MUMBAI : The television distribution landscape is getting treacherous day by day with the rapid evolution of video consumption and the yo-yoing of pricing regulations by the Telecom Regulatory Authority of India (Trai). Carcasses of the leaders in the Cable TV distribution are lining the streets of India’s television land. A leader in Kolkata for many years, Manthan has been facing challenges with its mounting debts and dues that have forced its managers to give up the ghost as well as a nudge from the regulators.

    The corporate debtor, Manthan Broadband Services has been facing a financial crunch, bankruptcy, and challenges in repaying its debts to the creditors. Therefore, the liquidation of the Manthan is becoming a growing concern currently. Since the financial year 2019, there have been no business operations of the corporate debtor and no regular employees are working in the firm.

    Sony Pictures Networks India moves high court

    Sony Pictures Networks moved to the Kolkata high court and in January, it obtained an order directing National Company Law Tribunal (NCLT) to hear Manthan’s corporate insolvency resolution matter and pass an appropriate order within three months. An attempt to submit a resolution plan to revive Manthan was persistently opposed by Sony along with Alliance Broadband (another creditor of Manthan) and Kuldeep Verma (the appointed liquidator of Manthan currently). The long-pending Manthan matter finally was put to rest with NCLT passing an order on 6 April 2022 directing the liquidation of Manthan.

    Further, Sony Pictures is the only broadcaster that got the title deeds of three acres of land as collateral from Manthan under a watertight memorandum of understanding (MoU). It is the first time that any broadcaster used such a method to secure their dues. Incidentally, it is probably the first time that an Indian broadcaster had thought of such an idea of using real estate as collateral for securing outstanding financial dues.

    This could be described as a positive development for the broadcaster since it can now deal with the said portion of Manthan’s land parcel under the relevant provisions of the Insolvency and Bankruptcy Code (IBC).

    The collateral will help the broadcaster to gain the ‘Secured Operational Creditor’ status which was granted by the NCLT in January 2021. The first of its kind judgement in the entire broadcasting industry. The operational creditors are not given secured creditor status due to lack of collateral; no other broadcaster has ever taken any collateral in this industry.

    The Manthan case chronology

    On 8 March 2021, an order was first passed by the NCLT that Manthan should be liquidated. The decision to liquidate the Distribution Platform Operator (DPO) was taken by NCTL after various opportunities given to the company for producing a resolution plan. Manthan has undergone the insolvency proceedings on 18 September 2019 and the corporate insolvency resolution process (CIRP) was initiated after the financial creditor, Alliance Broadband Services had filed a petition in the court for claiming a defaulted loan amount of more than Rs 10.20 crore.

    In addition, there were two parties Atria Convergence Technologies Ltd (ACTL) and India Cable Network Company Ltd (ICNCL) who expressed their interest in submitting the resolution plan for the corporate debtor. However, both the bidders withdrew from CIRP after submitting a resolution plan.

    The committee of creditors (CoC) passed a resolution for winding up Manthan and Kuldeep Verma, the resolution professional had accordingly filed appropriate applications before the NCLT. The issue was further discussed during the 10th CoC meeting in March 2021 and ultimately, in the 11th CoC meeting, the decision to liquidate Manthan was approved after casting 100 per cent votes from the creditors.

    The industry spokesperson said that they have waited for a long time for the smooth running of the CIRP of Manthan. However, even after best efforts, the revival plan for Manthan could not happen within the timelines, including seeking extension and exclusion.

    So now, with the passing of the order by the tribunal for Manthan’s liquidation process, the creditors expect that it will streamline everything and facilitate recovering the pending dues from the corporate debtor.

  • Invesco to sell up to 7.8 per cent stake in Zeel

    Invesco to sell up to 7.8 per cent stake in Zeel

    Mumbai: After extending support to the Zee-Sony merger, Zee Entertainment Enterprises Ltd’s (Zeel) single-largest shareholder Invesco on Wednesday said that it will divest up to 7.8 per cent stake worth Rs 2,200 crore in the media conglomerate via a block deal on 7 April.

    The investment firm said three funds managed by its developing markets investment team, including Invesco, will sell up to 7.8 per cent of the share capital of Zeel to align exposures to the firm with other funds managed by the team.

    Invesco further said after the proposed sale, the three funds managed by its developing markets investment team will continue to own in aggregate at least 11 per cent of Zeel.

    “It underscores the investment team’s belief that the Sony deal in its current form has great potential for Zeel shareholders. The three funds are launching a bookbuild transaction on Wednesday to sell the shares,” Invesco said in a statement.

    “The purpose of this transaction is to align these funds’ exposures to Zee with other funds managed by the investment team and to achieve an aggregate ownership position in the company that is more in line with the investment team’s portfolio construction approach,” it added.

    Last month, Invesco extended support to the Zee-Sony merger deal and decided not to pursue the call for an EGM of Zeel to remove MD and CEO Punit Goenka and two independent directors.The company however maintained that if the deal is not completed as currently proposed, Invesco retains the right to requisition a fresh EGM.

    In December 2021, Sony Pictures Networks India (SPNI) and Zeel signed definitive agreement for merger of Zeel into SPNI following the conclusion of an exclusive negotiation period during which both parties conducted mutual due diligence.

    At that time Invesco along with OFI Global China Fund LLC, which together hold about 17.9 per cent stake in Zeel, had opposed the deal.

    When the merger deal was announced in September 2021, the two networks had stated that Sony would invest $1.575 billion and hold 52.93 per cent stake in the merged entity and Zee the remaining 47.07 per cent.

    Under the terms of the definitive agreements, SPNI will have a cash balance of $1.5 billion at closing, including through infusion by the current shareholders of SPNI and the promoter founders of Zeel.

    Zee chief executive Punit Goenka will lead the combined company as its MD and CEO.

    The merged entity will become India’s second-largest entertainment network by revenue with 75 TV channels along with two video streaming services — Zee5 and SonyLIV. It will also house two film studios — Zee Studios and Sony Pictures Films India and a digital content studio (Studio NXT).

    When it is completed Sony Pictures Entertainment Inc will indirectly hold a majority 50.86 per cent of the combined company and the promoters (founders) of Zeel will hold 3.99 per cent, while the other Ze shareholders will hold a 45.15 per cent stake.

    In July 2019, Subhash Chandra-led Essel Group had roped in existing investor Invesco Oppenheimer to raise its stake in flagship Zee Entertainment Enterprises by another 11 per cent for Rs 4,224 crore.

     

  • ARASU to pay deficit of Rs 138.7 cr to SPNI as per DAS audit : TDSAT order

    ARASU to pay deficit of Rs 138.7 cr to SPNI as per DAS audit : TDSAT order

    Mumbai: In a landmark ruling, the Telecom Disputes Settlement and Appellate Tribunal (TDSA) has directed Tamil Nadu Arasu Cable TV Corp (TACTV) to pay Rs 138.75 cr to Sony Pictures Networks India (SPNI) for underreporting the subscriber base as revealed in the DAS audit, leading to financial loss to the broadcaster.

    The amount needs to be paid within two months from the issued order (16 February), said the Tribunal, posting the matter for further proceedings on 9 March. As per the order, the amount is 50 per cent of the original claim amount of Rs 277.58 cr sought by the broadcaster in its petition before the Tribunal in May 2021.

    According to the guidelines of the Telecom Regulatory Authority of India (Trai) pertaining to the NTO regime 2019, all distribution platform operators (DPOs) are required to conduct a Digital Addressable Audit (DAS) audit of their head-ends mandatorily once in a calendar year. The DPOs can choose any of the empanelled auditors listed by Trai for the purpose. In case of any DPO not conducting such audits, the broadcaster can conduct the same via the empanelled auditors for the said calendar year.

    In its petition before the Tribunal, SPNI had stated that TACTV ARASU had been consistently postponing the DAS audit. Despite several reminders by the SPNI distribution team, the distributor kept postponing the audit till November 2020 citing the Covid situation. Finally, the audit was done by the Trai empanelled audit agency- BDO India LLP in December 2020. As per the audit procedures, all the data extraction was done by the ARASU representatives along with the CAS/ SMS vendors in front of the auditors.

    The Auditors submitted the findings and reports to both ARASU and SPNI on 19 January 2021, which on careful analysis revealed that seven ARASU packs that had SPNI channels were not disclosed in the monthly subscriber reports (MSR’s) submitted to SPNI. “This amounts to piracy and under declaration of sub-bases led to a revenue impact for SPNI,” the broadcaster argued.

    Further, a close analysis of the CAS data recovered from 19 February till November 2020 revealed that two packs out of undisclosed seven packs carrying SPNI channels were available to the entire universe of 2.8 million subscribers of ARASU and again, none of these numbers was disclosed to SPNI in the Monthly MSR’s. According to the broadcaster, this has resulted in a huge financial accumulated outstanding impact month on month amounting to a value of Rs. 277.52 Crores, unpaid by ARASU.

    After receiving no response from ARASU despite several reminders, SPNI approached TDAST in May 2021 and submitted the entire case and a prayer for a hearing and resolution on this matter. After prolonged arguments and counter-arguments by the SPNI counsel represented by senior advocate Gopal Jain and Kunal Tandon, the Tribunal was convinced that ARASU has been underreporting the subscriber base due to which SPNI’s legitimate rightful monthly fee accrual was way below the actual rightful amount.

    “If 50 per cent of the amount indicated above is paid within two months, the petitioner (SPNI) shall not issue disconnection notice without seeking leave of the Tribunal,” the order stated.

  • #Retrace2021: How streaming wars re-shaped the global M&E industry in 2021

    #Retrace2021: How streaming wars re-shaped the global M&E industry in 2021

    Mumbai: Beginning with the blockbuster M&A deal between Discovery and AT&T in May which created the world’s second-largest media company by revenue after Disney, intensifying streaming wars reshaped the global media and entertainment industry through 2021. At the heart of this transformation was the mindboggling demand for content.

    According to research led by European economic consultancy Frontier Economics manager Clive Kenny, OCC (Online Curated Content) providers directly invested $25.7bn (Rs 1.8trn) in OCC content worldwide in 2019, including original and licensed titles. This sum is likely to soar to $61bn (Rs 4.3trn) by 2024. Significant increase in content investment in the pipeline includes: The Walt Disney Company’s plans to invest $14bn-16bn (Rs 985bn-1,126bn) per year in global OCC content by 2024; ViacomCBS’s plans to ramp up investment in OCC content to $5bn (Rs 352bn) in 2024; WarnerMedia’s parent company, AT&T’s, pledge to invest $4bn (Rs 282bn) in HBO Max in the three years through 2022; and, Netflix will spend $28bn (Rs 1.97trn) a year by 2028.

    Driven by tech, worldwide changes in viewers’ media consumption habits in the context of more genres, newer formats, and platform choices are here to stay and grow further, and the scope for this growth is immense. The importance, as well as the urgency of sourcing content to satiate this rather ravenous appetite for entertainment, will continue effecting similar shifts in the sector going ahead. The equation will balance out between global giants wanting to create worldwide media behemoths and (comparatively) ‘local’ players striving to maintain their individuality and independence in the market.

    Here’s a look back at some of the biggest industry deals that made news in 2021. Even though not driven by the streaming wars, the $5 bn acquisition of Yahoo (formerly Verizon Media) by Apollo Global Management finds a place in this list for being the culmination of Verizon’s persistent efforts to establish itself in the online media space.

    AT&T and Discovery: Announced in May 2021 through an all-stock transaction called the Reverse Morris Trust, the AT&T, and Discovery merger deal aimed at giving rise to a content powerhouse to be led by Discovery president and CEO David Zaslav. The merged entity will bring together brands like Warner Bros., HBO, Discovery, DC Comics, CNN, Cartoon Network, HGTV, Food Network, the Turner Networks, TNT, TBS, Eurosport, Magnolia, TLC, Animal Planet, and ID.

    The emphasis on the D2C aspect of the business was clearly spelled out in the official statement which read “the new company will compete globally in the fast-growing direct-to-consumer business, bringing compelling content to D2C subscribers across its portfolio, including HBO Max and the recently launched discovery+.”

    Televisa and Univision: In April, Mexican and Latin American media giant Televisa and US Hispanic network Univison merged their media, content, and production assets to create a global Spanish-language powerhouse. The combined entity Televisa-Univision will be led by Univision CEO Wade Davis. It will have the largest Spanish-language library of owned content, serving two of the world’s largest Spanish-speaking markets the US and Mexico.

    According to the Television Business International, the “merger was designed to enable the new company to address what it believes is the relatively nascent global Spanish-language streaming market. The pair said that the Spanish-language market, which represents around 600 million people globally, and an aggregate GDP of about $7 trillion, is significantly underserved from a streaming perspective relative to other major markets. They cited the stat that fewer than 10 per cent of the Spanish speaking population currently use an OTT video product, compared with the English language market where nearly 70 per cent of the population has at least one streaming service.”

    The deal brought together Televisa’s four free-to-air channels, 27 pay-TV networks channels and stations, Videocine movie studio, Blim TV SVOD service, and the Televisa trademark with Univision’s assets in the US including the Univision and UniMás broadcast networks, nine Spanish-language cable networks, 61 television stations, 58 radio stations in major US Hispanic markets and Puerto Rico, and digital assets, notably the recently launched AVOD streaming service PrendeTV.

    TF1 and M6: With a view to providing a “French response to the challenges from global platforms” Groupe Bouygues and RTL Group announced the $4bn merger of leading French commercial broadcasters TF1 and M6 to form a new “French total video champion” in May. The resulting entity will bring together the strengths of the companies’ D2C streaming businesses operating under the brand names MyTF1 and 6play.

    Said the companies, “This market where linear TV remains a powerful media is undergoing a structural transformation with a strong shift towards on-demand consumption. The combination of these two players, of the know-how of their employees and of their strong brands, would allow the new group to invest more and to step-up innovation. The proposed merger is critical to ensure the long-term independence of French content creation and to continue to offer diversified and premium local content to the benefit of all viewers.”

    Amazon acquires MGM: In the same month, global tech giant Amazon acquired Hollywood studio MGM for $8.45 Bn. MGM is behind classics such as ‘Gone with the Wind’, and ‘Rocky’, the famous Bond franchise, ‘Singin’ in the Rain’, ‘12 Angry Men’,  as well as popular reality TV shows like ‘The Voice’ and ‘Shark Tank’.

    Amazon has been ramping up its content spend to stay competitive amidst the fare being churned out by Netflix and Disney. “The real financial value behind this deal is the treasure trove of IP in the deep catalogue that we plan to re-imagine and develop together with MGM’s talented team,” said Amazon Studios and Prime Video SVP Mike Hopkins. 

    Fox Entertainment buys MarVista: With an aim to develop content for its digital outlets including the ad-supported streaming platform Tubi, Fox Entertainment closed the year with acquiring MarVista Entertainment in December. Founded in 2003, MarVista specialises in production for digital platforms. Having created an average of 80 titles across different genres, the studio boasts a content catalogue of over 2500 programming hours.

    “With these key strategic advantages, acquiring and investing in MarVista aligns perfectly with Fox Entertainment’s long-term vision for streaming and diversifying our in-house capabilities and infrastructure, as we expand our portfolio,” said CEO of Fox Entertainment Charlie Collier.

    The deal was most recently in the series of Fox’s attempts this year to bolster its streaming and digital capabilities. It follows the September acquisition of celebrity-focused news outlet TMZ from WarnerMedia and the launch of Studio Ramsay Global, a production entity focused on culinary and lifestyle programming with restaurateur Gordon Ramsay.

    RTL Group and Talpa Network: The merger of RTL Nederland and Talpa Network assets was announced in June this year with the intention of creating a strong Dutch cross-media group across TV, streaming, radio, print, and digital, as well as to the benefit of audiences and the Dutch creative industry. The plan spelled out a “clear ambition to further expand Videoland” –  the leading Dutch streaming service with one million paying subscribers.

    According to the agreements, Talpa Network will contribute its TV, radio, print, digital, e-commerce, and other assets to RTL Nederland and will receive a 30 per cent stake in the enlarged RTL Nederland in return.

    In addition, Talpa Network’s content units (Talpa Concepts, Talpa Entertainment Producties) – which are not part of the deal – and RTL Nederland will enter into a content agreement for newly developed formats for linear TV channels and for the streaming service Videoland.
    The annual content spend of the combined group amounts to more than €400 million.

    ZEEL-SPNI merger: The Zee Entertainment Enterprises Ltd (Zeel) and Sony Pictures Networks India (SPNI) mega-merger announced in September combined the two media giants’ linear networks, digital assets, production operations, and programme libraries to create one of India’s largest media and entertainment entities (close to $2 billion in revenue) in terms of market share.

    In an investor call, Punit Goenka, managing director, and chief executive officer of the merged entity, revealed that it will target overall growth with a focus on sports and digital. As part of the deal, Sony agreed to infuse $1.6 billion cash which will enable the merged entity to accelerate its digital platform and significantly invest in premium content including sports.

    Both SPNI and Zeel had been on the lookout for a partner that could bring in mutual synergies, while minimising clashes, to fend off competition amid growing consolidation in the media and entertainment industry.  With this, the Zeel-Sony merged entity will compete in the market with market leader DisneyStar India, Viacom18-RIL, and the only standalone, player Sun TV Network. Given their relative strengths in scripted, factual, and sports programming, respective distribution footprints across India, and iconic entertainment brands, the combined company will try to meet the growing consumer demand for premium content across entertainment touchpoints and platforms.

    Under the terms of the definitive agreements, SPNI will have cash balance of $1.5 billion closing, including through infusion by the current shareholders of SPNI and the promoters (founders) of Zeel, to enable the combined company to drive sharper content creation across platforms, strengthen its footprint in the rapidly evolving digital ecosystem, bid for media rights in the fast-growing sports landscape and pursue other growth opportunities.

    Content Partnerships: While there were fewer major acquisitions happening in India, multi-year content partnerships between streaming platforms and mainstream production houses emerged as a significant trend through 2021. Under the Netflix India and Excel Entertainment deal inked in September, the Ritesh Sidhwani and Farhan Akhtar-owned production house will produce a variety of stories under its series banner Excel Media & Entertainment for Netflix members in over 190 countries.

    More recently streaming platform Zee5 entered into a strategic partnership with content and IP studio Applause Entertainment, a venture of Aditya Birla Group for a multi-show association. The two content companies will collaborate to create a robust original content slate of new Zee5 originals in Hindi to entertain viewers across the globe.

    Apollo acquires Yahoo (formerly Verizon Media): The $5 bn deal involving Private equity firm Apollo Global Management’s complete acquisition of Yahoo (formerly Verizon Media) from Verizon was announced in September this year. The group’s assets including titular Yahoo properties and the TechCrunch, AOL, Engadget, and RYOT brands encompass around 900 million monthly active users globally under the umbrella brand which is currently the third-largest internet property, per Apollo’s figures.

    Even though not driven by the streaming wars, the acquisition is significant for being the culmination of Verizon’s years-long strive to establish itself in online media, specifically adtech. It was preceded by the telco’s $4.4 bn acquisition of AOL in 2015 and Yahoo in 2017 for $4.5 bn. 

  • SPNI and Zeel sign definite agreements to merge

    SPNI and Zeel sign definite agreements to merge

    Mumbai: Sony Pictures Networks India Private Limited (SPNI) and Zee Entertainment Enterprises (Zeel) announced early on Wednesday that they have signed definitive agreements to merge Zeel with and into SPNI and combine their linear networks, digital assets, production operations, and program libraries.

    The agreements follow the conclusion of an exclusive negotiation period during which Zeel and SPNI conducted mutual due diligence. After closing, the new combined company will be publicly listed in India. The closing of the transaction is, however, subject to certain customary closing conditions, including regulatory, shareholder, and third-party approvals.

    Under the terms of the definitive agreements, SPNI will have cash balance of $1.5 billion closing, including through infusion by the current shareholders of SPNI and the promoters (founders) of Zeel, to enable the combined company to drive sharper content creation across platforms, strengthen its footprint in the rapidly evolving digital ecosystem, bid for media rights in the fast-growing sports landscape and pursue other growth opportunities.

    SPNI is an indirect subsidiary of Sony Pictures Entertainment Inc (SPE). Under the transactions contemplated by a non-compete agreement, SPE, through a subsidiary, will pay a non-compete fee to certain promoters (founders) of Zeel, which will be used by such promoters (founders) to infuse primary equity capital into SPNI, entitling the promoters (founders) of Zeel to acquire shares of SPNI, which would eventually equal approximately 2.11 per cent of the shares of the combined company on a post-closing basis. After the closing, SPE will indirectly hold a majority 50.86 per cent of the combined company, the promoters (founders) of Zeel will hold 3.99 per cent, and the other Zeel shareholders will hold a 45.15 per cent stake.

    Punit Goenka to lead the combined entity

    Punit Goenka will lead the combined company as its managing director & CEO. The majority of the board of directors of the combined company will be nominated by the Sony Group and will include the current SPNI managing director and CEO, N P Singh. On closing, Singh will assume a broader executive position at SPE as chairman, Sony Pictures India (a division of SPE) reporting to SPE’s chairman of Global Television Studios and SPE Corporate Development Ravi Ahuja.

    “It is a significant milestone for all of us, as two leading media & entertainment companies join hands to drive the next era of entertainment filled with immense opportunities. The combined company will create a comprehensive entertainment business, enabling us to serve our consumers with wider content choices across platforms,” said Zeel MD and CEO Punit Goenka. “This merger presents a significant opportunity to jointly take the businesses to the next level and drive substantial growth in the global arena.”

    Synergy in Scripted, factual, and sports programming

    The combination of Zeel and SPNI is expected to achieve business synergies and given their relative strengths in scripted, factual and sports programming, respective distribution footprints across India and iconic entertainment brands, the combined company try to meet the growing consumer demand for premium content across entertainment touchpoints and platforms.

    As part of the definitive agreements, the promoters (founders) of Zeel have agreed to limit the equity that they may own in the combined company to 20 per cent of its outstanding shares. “This construct does not provide the promoters (founders) of Zeel any pre-emptive or other rights to acquire equity of the combined company from the Sony Group, the combined company or any other party. Any shares purchased by the promoters (founders) of ZEEL, must be in compliance with all applicable laws including any pricing guidelines,” it said in a statement.

     “Today marks an important step in our efforts to bring together some of the strongest leadership teams, content creators, and film libraries in the media business to create extraordinary entertainment and value for Indian consumers,” said SPE’s chairman of Global Television Studios and SPE Corporate Development Ravi Ahuja. “I especially want to thank N P Singh, who presented us with the idea to explore this merger well over a year ago.”

    SPNI MD and CEO N P Singh said the merger will create a company that will redefine the contours of the media and entertainment industry. “As a representative of SPE on the Board of the new merged company, it will be my endeavour to provide strategic guidance and support to the company’s operating team in achieving our vision,” he added.

  • SPNI, Twitter join hands to bring premium video content to fans

    SPNI, Twitter join hands to bring premium video content to fans

    Mumbai: Twitter and Sony Pictures Networks India (SPNI) are coming together to bring the best of sporting action to Twitter audiences for India’s cricket tours with Sri Lanka and England starting from 18 July.

    With the sports channels of SPNI’s live coverage of the tours on Twitter, cricket fans will be able to consume real-time video highlights on their timeline. These video highlights, as well as Twitter Moments, will be available for fans across various cricket formats giving them an unparalleled experience, the platform said in a statement on Thursday.

    With this partnership, Twitter Amplify will enable brands to align their ads via pre-rolls or promoted videos to reach sports audiences in real-time, it added.

    “While the sports experience has changed in recent times, the roar of sports fans on Twitter is louder than ever,” said Twitter India’s head-global content partnerships, Amrita Tripathi. “Conversations around cricket leagues in 2020 increased by 23% when compared to those in 2019 – which in itself was a record-breaker with 27 million Tweets. We are delighted to partner with Sony to bring in-match premium cricket video content to people on Twitter in India for the very first time, building on a promising content partnership with one of the top sports broadcasters in the region.”

    “We are excited to partner with Twitter and take our viewer engagement to the next level,” said SPNI’s head-growth and monetisation, digital business, Manish Aggarwal. “It is a pleasure to come together and be able to reach out to cricket enthusiasts with video highlights. Since it is a new and refreshing phenomenon, the viewers will now have one more platform to share/discuss and express their views on the matches.”

    Through the course of this year, Twitter will bring a range of different cricket content from partners, like the sports channels of SPNI, including Twitter Spaces, and behind-the-scenes action with the Twitter #BlueRoom for the upcoming World Cup series and India vs Australia women’s series. 

  • SPN secures dynamic John Doe injunction to protect copyright of India’s upcoming series

    New Delhi: Sony Pictures Networks India (SPN) has secured a Dynamic John Doe injunction order from the Delhi high court to protect infringement of copyrights for two of the upcoming international cricketing series.

    The order applies to India–Sri Lanka Men’s International Series in July 2021 and the India–England Men’s International Series in August and September 2021. The Dynamic John Doe will shield SPN from unlawful and unauthorized dissemination of IPs on the internet and other social media platforms.

    The injunction order restrains Internet Service Providers (ISPs), cable operators and websites from carrying content that violates SPN’s copyright in the broadcast and digital transmission rights for the cricketing series. With the Dynamic injunction, if SPN finds that other ISPs and websites are violating its copyrights, it can obtain an injunction against them also. Besides, to combat piracy on the ground, the court has appointed two local commissioners to ascertain and report to the court whether the Multi-System Operators (MSOs) and Local Cable Operators (LCOs), are distributing or transmitting the cricketing events illegally.

    SPN has acquired from the England and Wales Cricket Board Limited (ECB) as well as from Sri Lanka Cricket (SLC) an exclusive license to broadcast in the territories of India, Pakistan, Afghanistan, Sri Lanka, Nepal, Bangladesh, Bhutan, Myanmar and the Maldives for the India Tour of England 2021 and worldwide, excluding Sri Lanka, for the India Tour of Sri Lanka 2021.

    The matches will be available on SPN’s linear channels SONY TEN 1, SONY TEN 1 HD, SONY TEN 3, SONY TEN 3 HD, SONY TEN 4, SONY TEN 4 HD, SONY SIX, SONY SIX HD and its digital platform SonyLIV.