Page 5 - Zee Entertainment

Stocks to Watch today: Zee, Hindalco, RIL, Tata Power, Paytm, TVS Supply

Stocks to watch on Wednesday, February 21, 2024: In news today - Sebi finds Rs 2,000 cr fund diversion in Zee; Hindalco arm files IPO papers in US; Rolls Royce extends pact with TVS Supply Chain.

Another blow to Zee Entertainment: Sebi uncovers $241 mn accounting issue

As part of its investigation into the Zee founders, the Securities and Exchange Board of India, or Sebi, found that about Rs 2,000 crore ($241 million) may have been diverted from the company

Zee Entertainment reaches out to Sony to revive terminated merger

Zee Entertainment Enterprises Ltd (ZEEL) is seeking rapprochement with Sony Group as it makes a last-ditch effort to resurrect a USD 10 billion merger, according to industry sources. After the Japanese multinational firm pulled the plug on its USD 10 billion merger deal in January, the Indian company reached out again to Sony to reconsider the termination and offered for talks this month, a source said. On the other hand, Sony is understood to be evaluating the proposal from Zee. Comments from Sony Picture Networks India could not be obtained as an e-mailed query remained unanswered. A Zee spokesperson said, Since the matter is subjudice we have no comments to offer. Another source said ZEEL never stopped working for a possible reconciliation dialogue citing that it was ZEEL that moved to NCLT to make the merger happen. The ball is in Sony's court. They need to respond if the deal has to be revived, the source said. The development comes amidst the two parties filing cases again

Zee Entertainment soars 12% on reports of fresh merger discussion with Sony

ZEEL and Sony Group are in discussions that may save the $10 billion merger that the Japanese conglomerate had called off on January 22

Zee, Sony in discussions to save the called off $10 billion merger: Report

Sony-Zee merger: Punit Goenka, managing director and chief executive officer at ZEEL, has agreed to Sony's demand of him not becoming the CEO of the merged entity

We will find another opportunity in India post Zee merger collapse: Sony

With the proposed merger of its Indian arm with Zee terminated, Sony will seek various options, including finding another opportunity to replace the plan and organic growth opportunities in India, which has great potential in the long term, according to a top company official. In an earnings call, Hiroki Totoki, president, COO & CFO of Sony said India is a very appealing market where it would continue to invest. "India on a long term basis has a great growth potential. It's a very appealing market. Therefore, we will try to seek various opportunities and if we can find another opportunity that would replace this type of plan," Totoki said when asked about the company's strategy in India after the termination of the proposed merger. On the investment which Sony had committed as part of the deal, he said:"Well, that investment is not going to change a capital allocation or it will not change our behaviour in our investment. So at the moment, we do not have any concrete plans." The ..

Zee Entertainment aspires for 8-10 pc revenue growth, says Goenka

Zee Entertainment Enterprise Ltd (ZEEL) is focusing on a three-pronged approach -- frugality, optimisation and sharp focus on quality content -- for the company's future, said its Managing Director and CEO Punit Goenka on Tuesday. The company aspires for an 8 to 10 per cent CAGR revenue growth, with digital business growing at a much faster pace, he said. "Going forward, there will be a sharper emphasis on frugality, with a crystal-clear focus on quality and output," said Goenka in the first earning call of the company, after the deal to merge with Sony Pictures Entertainment collapsed last month. Across verticals including technology, content and marketing, ZEEL is implementing steps to optimise spending and enhance the return on investments. "The three-pronged approach will elevate and further streamline our existing capabilities in line with our robust growth plans. The results of these structured steps over the next few quarters will start reflecting in the company's ...

Zee Entertainment Q3 results: Profit more than doubles to Rs 58.5 crore

Zee's profit rose to Rs 58.5 crore ($7.05 million) for the three months ended Dec. 31 from Rs 24.3 crore a year ago

NCLT issues notice to Sony in plea by Zee Ent to implement merger

The plea of Mad Men Film Ventures, a shareholder of Zee, seeking enforcement of the merger has been clubbed together with ZEEL's plea and will be heard on the same date

NCLT issues notice on Zee's plea seeking directions for Sony merger

NCLT has granted two weeks to Sony to file its reply and listed the case for hearing on March 12

Stocks to Watch today, Feb 5: Paytm, SBI, TaMo, IndiGo, ZEE, Airtel, VBL

Stocks to Watch on Monday, February 5, 2024: Stock exchanges have revised the circuit limits for Paytm to 10 per cent from 20 per cent

Can go to NCLT to enforce Sony merger deal after SIAC rejects petition: Zee

Sony scrapped the merger on Jan. 22, ending a deal that could have created one of India's biggest TV broadcasters, claiming breaches of contract

SIAC cites lack of jurisdiction, rejects Sony's plea against Zee Ent

The Singapore arbitration panel cites lack of jurisdiction for rejection

'Sony, Zee clash over Russia assets, cricket before India merger collapse'

The communications between Sony's legal and M&A executives in India and Los Angeles with top Zee executives provide undisclosed details on the high-stakes backroom tussle

Zee Entertainment, Sony Pictures square off in SIAC, starting today

NCLT grants 3 weeks to Sony to file reply

Zee-Sony merger: NCLT issues notice to Sony to file reply in three weeks

The National Company Law Tribunal (NCLT) on Tuesday accepted a petition by a Zee Entertainment shareholder seeking the merger of its Indian entity with Sony, which was called off last week despite regulatory approvals. The Mumbai-bench of NCLT issued a notice on a petition moved by Mad Men Film Ventures, a shareholder of Zee Entertainment Enterprises (ZEEL), directing Sony Pictures Network India, now known as Culver Max, to file a reply within three weeks. Mad Men Film Ventures on Tuesday filed the petition requesting both ZEEL and Sony to implement the merger as it was approved by the NCLT in August 2023. The tribunal did not agree to the arguments made by the counsel stating that the approval by NCLT was conditional and depended on various conditions, which may be fulfilled or waived off in writing. NCLT has kept the next date of hearing on this matter on March 12. Last week, the Sony Group Corp called off the merger with ZEEL following a stalemate over who will lead the merged

Sony scrapped $10 bn merger as Zee failed to meet financial terms: Report

India's Zee denied the allegations in a letter to Sony, also reviewed by Reuters, and accused the Japanese company of "bad faith" in calling off the merger

Promoter family to increase stake in Zee to 26% eventually: Subhash Chandra

Chandra also said that as a promoter, he was "seriously considering" filing a criminal case against Sony

Zee: DIIs and unitholders' interests

Why are DIIs holding such a high stake in Zee, which is beset with alleged governance issues? Perhaps they think Zee is a deep-value stock

TMS Ep616: Zee-Sony merger, cookieless market, interim Budget, stress test

Has Zee run out of options after merger collapse? Are Indian businesses ready for a cookieless market? What do investors expect from interim Budget? What is stress testing in finance? Answers here