Mumbai (Maharashtra) [India], August 30 (ANI): Zee Entertainment Enterprises Ltd (ZEE) and Disney Star on Tuesday said they have entered into a strategic licensing agreement under which Disney Star will license the television broadcasting rights of the ICC Men's and Under 19 (U-19) global events for four years to Zee.

Goa [India] April 29 (ANI/BusinessWire India): Venture studio Prototyze has announced the launch of Report Yak (www.reportyak.com), a specialised communication-design company focused on creating corporate reports.

Mumbai (Maharashtra) [India], December 22 (ANI): Sony Pictures Networks India Private Ltd (SPNI) and Zee Entertainment Enterprises Ltd (ZEEL) on Wednesday said 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.

New Delhi [India], November 25 (ANI/PRNewswire): India's extraordinary short video platform and a destination for many talented creators, Hipi raises the curtain on its new revamped look.

Mumbai (Maharashtra) [India], Sep 22 (ANI): Equity indices closed in the negative terrain on Wednesday as traders navigated cautiously while assessing the impact of struggling Chinese developer Evergrande Group on India.

New Delhi Sep 22 PTI Indias largest publicly-traded television network Zee Entertainment Enterprises will merge with Sony Pictures Network India SPNI capping days of high drama during which the firms shareholders sought removal of key officials Sony which will invest USD 1575 billion will hold 5293 per cent stake in the merged entity and Zee the remaining 4707 Zee Entertainment Enterprises ZEEL said in a statement In recent days Zee has seen its top investor seek a management reshuffle including the exit of chief executive Punit Goenka A majority of the merged companys board would be nominated by Sony while Goenka would lead it according to the terms of the deal Invesco Developing Markets Fund and OFI Global China Fund LLC which together hold about 179 per cent stake in Zee had sought an extraordinary general meeting of shareholders last week to oust Goenka along with two board members The move was seen as an attempt to end the sway of founder Subhash Chandras family over the company founded in 1992 While the deal may take some pressure off Zee it will help expand Sonys media business in India In an exchange filing Zee said it has entered into a non-binding term sheet with SPNI to bring together their linear networks digital assets production operations and programme libraries The combined entity will own over 70 TV channels 2 video streaming services ZEE5 and Sony LIV and two film studios Zee Studios and Sony Pictures Films India making it the largest entertainment network in India Its nearest rival would be now Star and Disney in the Indian market The merger of ZEEL and SPNI would bring together two leading Indian media network businesses benefitting consumers throughout India across content genres from film to sports The combined company is expected to benefit all stakeholders given strong synergies between ZEEL and SPNI said SPNI in a statement While in a separate statement ZEEL said its board in a meeting held on Tuesday unanimously provided an in-principle approval for the merger between SPNI and the company The board concluded that the merger will be in the best interest of all the shareholders and stakeholders The merger is in line with ZEELs strategy of achieving higher growth and profitability as a leading media and entertainment company across South Asia it said According to ZEEL With this corporate development the merged entity will result into an accelerated growth and a significant opportunity to create tremendous value for all its stakeholders The term sheet provides an exclusive period of 90 days during which ZEEL and SPNI will conduct mutual diligence and finalise definitive agreements said SPNI The non-binding term sheet provides an exclusive negotiation period of 90 days during which ZEEL and SPNI will conduct mutual diligence and negotiate definitive binding agreements The combined company would be a publicly listed company in India and be better positioned to lead the consumer transition from traditional pay TV into the digital future said SPNI According to ZEEL the final transaction would be subject to completion of customary due diligence negotiation and execution of definitive binding agreements and required corporate regulatory and third-party approvals including approval from its shareholder Moreover as per the deal the promoter Subhash Chandra family is free to increase its shareholding from the current 4 per cent to up to 20 per cent Chandra a rice trader-turned-media mogul and his family had brought down their stake in Zee to help pare debt at their broader Essel Group According to the term sheet the promoter family is free to increase its shareholding from the current 4 per cent to up to 20 per cent in a manner that is in accordance with applicable law Majority of the board of directors of the merged entity will be nominated by Sony Group said ZEEL Moreover Sony Pictures Entertainment the parent company of SPNI would invest growth capital of USD 1575 billion This is to enhance the combined companys digital platforms across technology and content ability to bid for broadcasting rights in the fast-growing sports landscape and pursue other growth opportunities said SPNI Basis the existing estimated equity values of ZEEL and SPNI the indicative merger ratio would have been 6125 per cent in favour of ZEEL However with the proposed infusion of growth capital into SPNI the resultant merger ratio is expected to result in 4707 per cent of the merged entity to be held by ZEEL shareholders and the balance 5293 per cent of the merged entity to be held by SPNI shareholders the ZEEL statement said SPNI is an indirect wholly-owned subsidiary of Sony Group Corporation Japan ZEEL Chairman R Gopalan said The value of the merged entity and the immense synergies drawn between both the conglomerates will not only boost business growth but will also enable shareholders to benefit from its future successes As per legal and regulatory guidelines at the required stage the proposal will be presented to the shareholders of ZEEL for their approval Zee shares zoomed 25 per cent to Rs 31950 their 52-week high of on BSE PTI KRH ANZ ANZ ANS ANS

Mumbai (Maharashtra) [India], September 22 (ANI): Zee Entertainment Enterprises Ltd (ZEEL) said on Wednesday its board of directors has unanimously provided an in-principle approval for the merger with Sony Pictures Networks India (SPNI).

Mumbai (Maharashtra) [India], September 22 (ANI): Equity indices were flat during early hours on Wednesday as traders navigated cautiously while assessing the impact of struggling Chinese developer Evergrande Group on India.

Mumbai (Maharashtra) [India], Sep 14 (ANI): Equity benchmark indices closed with mild gains on Tuesday with select IT and banking stocks leading the rally.