On a breezy April evening some 45,000 Indian Premier League cricket fans are packed into Wankhede Stadium to watch the hometown Mumbai Indians battle the Rajasthan Royals. Elsewhere in the city, hundreds of employees of Viacom18 Media Pvt. are on different mission, transmitting the match in 12 languages and 20 camera angles across the world’s …
Tata Group is considering buying Walt Disney Co.’s stake in Tata Play Ltd. to give it full control of the subscription television broadcaster, people familiar with the matter said, continuing a shakeup in India’s media industry. The companies are in preliminary talks about an acquisition of Disney’s significant minority stake, which would value Tata Play …
Walt Disney is expected to record non-cash pre-tax impairment charges of $1.8 billion to $2.4 billion for the quarter ending March 31, mainly due to Star India’s net asset and goodwill write-down at the entertainment linear network’s reporting unit due to the removal of the company. The impairment charges pertain to the merger deal signed …
Reliance Industries Ltd on Wednesday informed exchanges that the company has inked a binding agreement with Walt Disney Co to merge their media operations in India. Reliance Industries Limited (“RIL”), Viacom 18 Media Private Limited (“Viacom18”) and The Walt Disney Company (NYSE:DIS) (“Disney”) today announced the signing of binding definitive agreements to form a joint …
Sony on Monday confirmed it has served a termination notice to Zee Entertainment, signaling the end of the proposed $10 billion mega merger between its India operations and Zee. The Sony-Zee agreement aimed to establish India’s largest entertainment company, equipped with the financial strength to compete against global giants like Netflix Inc. and Amazon.com Inc. …
Diversified conglomerate Reliance Industries Ltd reported better-than-expected profit for the quarter ended December, aided by a better show by the digital and retail businesses, which offset the weakness in the mainstay oil-to-chemicals business. The company reported a 9.3% year-on-year (YoY) growth in consolidated net profit to Rs 17,265 crore, beating the estimate of Rs 16,944 …
Sony has yet to agree to a deadline extension for merger with Zee and is looking forward to hearing the Indian media company’s proposals and how they plan to complete the remaining critical closing conditions. Sony’s statement comes after Zee Entertainment Enterprises Ltd (ZEEL) earlier this week requested Sony Group companies to extend the date …
Walt Disney Co. and Reliance Industries Ltd., led by Asia’s richest tycoon Mukesh Ambani, are expected to sign a non-binding pact as early as Monday to merge their media operations in India in a cash-and-stock deal, according to people familiar with the matter. Ambani’s retail-to-refining conglomerate will infuse money to hold at least 51% of …
The fate of the planned merger between Sony Group Corp.’s India unit and Zee Entertainment Enterprises Ltd. may be known as early as next week, according to people familiar with the matter, as the companies face a looming deadline to resolve their standoff or scuttle a long-awaited deal to create a $10 billion media giant. …
Reliance Industries Ltd., controlled by Asia’s richest tycoon Mukesh Ambani, is nearing a cash and stock deal to buy Walt Disney Co.’s India operations, according to people familiar with the matter. The US entertainment giant may sell a controlling stake in the Disney Star business, which it values at around $10 billion, as opposed to …