MxMIndia

Tag: ZEEL

  • Exclusive digital partner ZEE5 to offer free-to-view streaming

    Zee to present DP World ILT20 2nd season

    By Our Staff

     

    Zee’s 10 linear TV channels, OTT platform ZEE5 and on its syndicate partners’ TV and digital networks across the world will exclusively broadcast live DP World ILT20 Season 2, beginning January 19, 2024

     

    Said Rahul Johri, President – Business, Zee Entertainment Enterprises Limited (ZEEL): “Zee is delighted to present DP World ILT20 2nd season and promises an electrifying experience to cricket fans in India and around the world. With the world’s finest players, iconic stadiums and infrastructure and six leading sporting franchises, our goal is to build upon the previous year’s success, further solidifying the league’s stature as one of the most-widely followed cricket events in the world.”

     

    Added David White CEO DP World ILT20: “We are excited to announce the DP World ILT20 Season 2 schedule. Just like the opening season, we are set to deliver 34 action-packed matches at three fantastic cricket venues. The event begins on 19 January and will finish with the final in Dubai on 17 February. Season 2 will be launched with riveting on-field action and entertainment for the entire family on the opening weekend in Sharjah, Abu Dhabi and Dubai.”

     

  • Launches week long campaign titled '5xThankYou'

    Zee5 marks its fifth brand anniversary

    By Our Staff

     

    ZEE5 marks its fifth brand anniversary. It is celebrating the occasion with a week-long campaign in India titled ‘5xThankYou’ from 13th to 19th February, featuring exciting offers on annual plans, Indian and international blockbusters and exclusive titles.

     

    Sharing his views on the milestone, Amit Goenka, President – Digital Businesses & Platforms, ZEE Entertainment Enterprises Limited (ZEEL) said: “ZEE5 was launched five years back with a vision to take Zee into its next phase of growth through leveraging the rapidly growing digital ecosystem to bring audiences extensive content choices and enhanced viewing experiences across screens. Today, I am happy to see ZEE5 emerge as India’s largest homegrown multilingual platform and the leading global platform for South Asian content representing the rich linguistic and cultural diversity of the region to the world. The journey has been enthralling with many learnings as we strengthened our presence across international and local markets in the last few years, and our teams have a lot to be proud of. The appetite for digital content with advancements in emerging technologies has catapulted the demand for OTT content, paving the way for us to step into our next phase of growth with a robust content-led digital-first strategy.”

     

    Added Manish Kalra, Chief Business Officer, ZEE5 India: “As a leading player in India’s OTT industry, we at ZEE5 have helped in expanding the contours of entertainment business over the last 5 years owing to the large appetite of Indians for quality content across languages. We, as a customer focused platform, believe in delivering high quality content for consumers, as well as engage with creators that could propel sector’s growth and address the demands of the culturally diverse and discerning audiences. With innovative storytelling, evolved character arcs, compelling narratives and content that transcends all barriers of languages and geographies we have grown remarkably over last 5 years across SVOD and AVOD. Our investments on content development increased significantly as well, as we strengthened our regional presence making inroads into the smaller pockets of India. Charting the next course for ZEE5, we will focus on producing good-quality stories, enhanced viewing experiences, creative collaborations, and increased choices for our viewers.”

     

  • To create high-value content strategies for 'Born to Shine' brand

    Big Buzz to boost CSR initiative of Zee

    By Our Staff

     

    Born to Shine, a CSR initiative of Zee Entertainment Enterprises Ltd. (ZEEL), in association with Give, a donation and crowdfunding platform, will embark on its digital and content marketing journey with Blue Buzz, a Mumbai based marketing agency.

     

    As part of the mandate, Blue Buzz will come up with and put into action plans to build a stature for Born To Shine that reflects its core vision and ideas. The crux of the content strategy will be the celebration of Indian art and culture and nurturing of prodigious talents.

     

    Speaking on this opportunity with Born To Shine, Blue Buzz founder and CEO Neha K Bisht said: “It is indeed a great opportunity for us, at Blue Buzz, to work with Give and ZEEL, two pioneers in their respective areas. With a mission to bring stories of girl champions to the world, Born To Shine is a brilliant initiative that will have a significant impact in the world of art and artists. Keeping in mind the programme’s vision and objectives, we aim to offer our expertise with a distinctive and aggressive approach that will help achieve impactful results that Born To Shine aspires for. We look forward to this amazing journey.”

     

  • To drive growth and revenue

    ZMCL ropes in Mona Jain as CRO

    By Our Staff

     

    Zee Media Corporation Limited (ZMCL) ropes in Mona Jain as chief revenue officer (CRO). Jain has more than 30 years of experience in media marketing and promotions. Jain, worked with ABP Network as Chief Revenue Officer for more than 3 years and before joining ABP Network in November 2019, Jain had spent six years in Zee Entertainment Enterprise Ltd. (ZEEL), serving as Executive Vice President, AD Sales.

     

    Prior to her tenure in ZEEL, Jain was the CEO of Vivaki Exchange for almost nine years, where she was designated as India Head – Strategic Investments. She has also worked at Cheil Communications and Mudra Communications in the past, where she held the positions of Executive Director and Media Director respectively and was responsible for setting up media for various brands. She started her career with Hindustan Thompson Associates (HTA) and holds vast experience in the field of communications and marketing.

     

    Abhay Ojha, Chief Business Officer – ZMCL, said: “We are excited to have Mona Jain come on board with her expertise in the revenue domain. We look forward to driving growth and revenue for the brand and take it to greater heights with each passing day.”

     

  • Approval marks yet another firm and positive step ahead in the merger completion process, notes communique

    99.99% Zee shareholders approve merger with Sony

    By Our Staff

     

    Zee Entertainment Enterprises Ltd.  has informed that the company’s equity shareholders have approved the proposed merger of ZEEL and Bangla Entertainment Pvt. Ltd. with and into Culver Max Entertainment Pvt. Ltd. (formerly Sony Pictures Networks India Pvt. Ltd.)

     

    The resolution put forth during the meeting pertaining to the proposed merger was whole-heartedly supported by 99.99% of ZEEL’s equity shareholders, notes a communique, adding:  The approval marks yet another firm and positive step forward, in the overall merger completion process.

     

    Said Punit Goenka, MD & CEO, ZEE Entertainment Enterprises Ltd: “On behalf of all the Board members and management of ZEEL, I would like to thank the equity shareholders of the Company for recognising the value-accretive opportunities the proposed merger will deliver to all stakeholders. The continued trust and overwhelming support by our equity shareholders towards the resolution of the Composite Scheme of Arrangement, further strengthen our abilities to consistently deliver higher value as we move forward in this process.”

     

  • The cricket tournament will be broadcast on ZEE's 10 channels and its OTT platform ZEE5

    ILT20 unveils trophy for inaugural season in 2023

    By Our Staff

     

    International League T20 (ILT20) a 20-over cricket tournament unveiled the coveted trophy for the upcoming inaugural edition of the league, which will be held in United Arab Emirates from January 13-February 12, 2023. Sheikh Nahayan Mabarak Al Nahayan, Minister of Tolerance and Coexistence and Chairman, Emirates Cricket Board, unveiled the silver trophy.

     

    Talking about the trophy and the much-anticipated tournament, Rahul Johri, President – Business, Zee Entertainment Enterprises Limited (ZEEL) said: “The unveiling of the ILT20 trophy by His Highness Sheikh Nahayan Mabarak Al Nahayan in the presence of all team owners and cricket legends marks a momentous milestone in our journey with the Emirates Cricket Board. This distinctive trophy is symbolic of the league’s unparalleled scale and ambition. We are humbled and thrilled that ILT20 is the coveted vehicle for Zee’s re-entry into sports broadcasting. We are enthused with this opportunity to entertain millions of cricket fans across India and globally on both linear television and streaming platform ZEE5.”

     

    The 34-match tournament will have six teams competing to win the coveted ILT20 trophy. The tournament will exclusively air live on Zee’s 10 linear channels in English, Hindi, and Tamil languages as well as on its OTT platform Zee5. The event will be broadcast on Zee Cinema (SD & HD), Zee Anmol Cinema, Zee Therai, Zee Bangla Cinema, Zee Zest (SD & HD), & Pictures HD, &Flix (SD & HD) and Zee5 in India and globally.

     

  • The Composite Scheme of Arrangement remains subject to applicable regulatory approvals

    CCI grants approval to Zee-Sony merger

    By Our Staff

     

    Zee Entertainment Enterprises Ltd. (ZEEL) has received an approval from the Competition Commission of India (CCI) for its proposed merger with Culver Max Entertainment Private Limited (formerly Sony Pictures Networks India Private Limited).

     

    In its official communication issued, the CCI has granted the approval in Phase-1 after evaluating the official legal and economic submissions made by the Company. Considering the immense value which the proposed merger will generate for all its stakeholders, the Company has offered the necessary remedies in accordance with the regulator’s guidelines. Detailed order is awaited.

     

    In its order pronounced on September 7, 2022, the National Company Law Tribunal (NCLT) had advised the Company to convene and conduct the meeting with its shareholders on 14th October 2022, to seek their approval for the proposed merger.  The Composite Scheme of Arrangement remains subject to applicable regulatory and other approvals.

     

  • For tech talent at its Technology and Innovation Centre in Bengaluru

    Zee to launch Metaverse Onboarding Programme

    By Our Staff

     

    Zee Entertainment Enterprises Ltd (ZEEL) has announced the launch of its Metaverse Onboarding Programme. The programme will induct 100+ campus graduates from top tech institutes at its Technology and Innovation Centre in Bengaluru. The centre is focused on building the metaverse platform by leveraging Augmented Reality (AR), Virtual Reality (VR), Non-Fungible Tokens (NFTs) and relevant data models for its digital platforms.

     

    Speaking about the initiative, Amit Goenka, President – Digital Businesses & Platforms, Zee said: “At Zee’s Technology and Innovation Centre, we are imbibing a sharp strategic focus on enhancing our tech capabilities through a confluence of technology, data and talent. As we break new grounds and redefine entertainment by providing robust experiences across platforms, we are delighted to converge Zee’s collaborative and entrepreneurial culture in the physical and digital realms through an immersive environment such as the metaverse. We aim to provide intuitive experiences across all aspects of an individual’s consumption, creation and transactional journey, and the first-ever metaverse induction program at ZEE, will not only help enhance our employee experience by boosting innovation and productivity, but also our consumer experience by several notches.”

     

    Added Nitin Mittal, President – Technology & Data, Zee: “For over three decades, we have been a pioneer in breaking the norms of the industry and creating path-breaking content for more than 1.3 billion viewers across the globe. Our focus now remains on building capability for ZEE by leveraging technology to provide our consumers with extraordinary entertainment experiences. Our quest is to shape the next chapter of India’s Media & Entertainment Industry and the Metaverse Induction Program is yet another major step in that direction. Inducting, nurturing and retaining the right talent is key to any organization’s success and we are committed to giving a world class experience to our tech enthusiasts right from day one.”

     

  • Highlights the latest trends prevailing in smartphone industry

    Zee5 Intelligence Monitor unveiled

    By Our Staff

     

    Zee5 has launched the fourth edition from its knowledge series ‘Zee5 Intelligence Monitor’ offering the latest trends prevailing in the smartphone industry.

     

    The research discovered that more than 50% of smartphone users in the metros are planning to replace their gadget within the next six months, quite a departure from the earlier behaviour where it was triggered from declining handset performance. The post-Covid trend is to grab the latest model; with latest features’ scoring well above price as the key motivator. Consuming the exciting and wide variety of content on OTT apps is another new driver for this upward movement.

     

    Launching the report, Rajiv Bakshi, Chief Operations Officer – Revenue, Zee Entertainment Enterprises Limited, said: “By deep diving into the smartphones segment, we have unearthed amazing new insights on  user behaviour which can lead the brand marketers to attract millions of customers eager to upgrade and replace their smartphones. We hope this report will act as a guidebook for marketeers and smartphone brands and serve to be distinctive for the industry at large. Marketers and business leaders can use these findings to make smarter business decisions and hyper-target campaigns utilizing the ZEE5 platform to connect with audience in 12 languages.”

     

  • CJI N V Ramana to felicitate 31 awardwinning journalists

    RedInk Awards for excellence in journalism at virtual event today

    By Our Staff

     

    The RedInk Awards for Excellence in Journalism is to be held at a virtual event this evening. Chief Justice of India NV Ramana will deliver the keynote address and will honour the 31 awardwinning journalists.

     

    The awards will also showcase a discussion on ‘Covid, and its impact on news media’, which will be coordinated by journalist Faye D’Souza. Other participants include Siddharth Vardarajan, Co-Founder and Editor of The Wire, and L P Pant, National Editor of Dainik Bhaskar. The winners’ list in the print/digital and video categories in 12 competitive categories will be declared.

     

    Meanwhile, the coveted RedInk Awards for Lifetime Achievement has been bestowed on senior journalist and author Prem Shankar Jha for his “long and distinguished career of incisive and analytical writing”. Danish Siddiqui, who was the Reuters Chief Photographer based in India, has been posthumously awarded the ‘Journalist of the Year – 2020’ for his spectrum of investigative and impactful news photography.

     

    The RedInk Awards for Excellence in Journalism, instituted by the Mumbai Press Club, have special significance this year as they mark their 10th edition of peer recognition for excellent writing and good journalism. The RedInk Awards were instituted a decade ago to recognize good investigative and feature writing and raise the bar of journalism in the country.

     

    The title sponsor for the event is Zee Entertainment Enterprises (ZEEL). Other supporting sponsors include Indiabulls Housing, L&T Financial Services, Aditya Birla Group, Adfactors PR, Viacom18, and Glenmark Pharmaceuticals.

     

    The virtual event will be hosted on Facebook from 7pm, and one can register at https://experiencenext.in/RedInkAwards2021/login.html to gain access to the event venue as well as to a variety of archival material and sidelights. The event can also be viewed at https://www.facebook.com/mumbaipressclub.

     

  • It’s subject to customary closing conditions, including regulatory, shareholder & 3rd party approvals

    One step closer to the merger. Zee & Sony sign definitive agreements

    By Our Staff

     

    Sony Pictures Networks India Private Limited (SPNI) and Zee Entertainment Enterprises Ltd. (ZEEL) have announced that they have signed definitive agreements to merge ZEEL with and into SPNI and combine their linear networks, digital assets, production operations and programme 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 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 USD $1.5 Bn (assuming an INR:USD exchange rate of 75:1) at 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% of the shares of the combined company on a post-closing basis. After the closing, SPE will indirectly hold a majority 50.86% of the combined company, the promoters (founders) of ZEEL will hold 3.99%, and the other ZEEL shareholders will hold a 45.15% stake.

     

    Punit Goenka will lead the combined company as its Managing Director and 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 Ravi Ahuja, SPE’s Chairman of Global Television Studios and SPE Corporate Development.

     

    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% 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.

     

    Commenting on this development, Punit Goenka, MD & CEO, ZEE Entertainment Enterprises Ltd. said, “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. I am immensely grateful to the teams at ZEEL, SPE and SPNI for their efforts, that swiftly led us to this point within the stipulated timelines. This merger presents a significant opportunity to jointly take the businesses to the next level and drive substantial growth in the global arena. I look forward to working with the guidance of the esteemed members of the combined company’s board to unlock the potential of this merger, and I wish N.P. Singh all the best in his new role at SPE. His contribution to the Indian media & entertainment industry has been invaluable. I am most certain that our collective wisdom, rich experience and expertise will lead to a more value accretive and exciting company for our shareholders and employees, and a more engaging one for our customers and partners.”

     

    Added Ahuja: “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,” adding: “I want to thank Punit and his team at ZEEL and the small army of people at SPE and SPNI who have worked so hard to get us to this point. I especially want to thank N.P. Singh, who presented us with the idea to explore this merger well over a year ago.  N.P. has done extraordinary work building SPNI to what it is today, and we look forward to continuing our work with him in his new role after closing.”

     

    Said Singh: “This merger will create a company that’s best in class and 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. I am also excited at the opportunity of being appointed, Chairman, Sony Pictures India, to oversee SPE’s investments and craft a wider footprint for Sony in India.”

     

    SPE was advised on this transaction by Morgan Stanley, KPMG Corporate Finance, and Shardul Amarchand Mangaldas & Co. ZEEL was advised by KPMG, JP Morgan, Trilegal and Boston Consulting Group.

     

     

     

  • Even if due diligence may be a formality, there are questions on how some of ZEEL's hostile investors will react

    So will the Zee-Sony merger go through?. Punit Goenka to be Big Boss of combined entity

     

     

    By Our Staff

     

    At any other time, the news that Zee Entertainment will merge with Sony Pictures Network India wouldn’t have been a surprise. But since it’s come in less than two weeks since the public display of hostility of key investors, it took everyone by surprise. Including those who’ve been tracking the sector for a while.

     

    So here’s what we know: the Board of Directors of Zee Entertainment Enterprises Limited (ZEEL) held a meeting yesterday (Tuesday, September 21, 2021) and unanimously provided an in-principle approval for the merger between Sony Pictures Networks India (SPNI) & ZEEL. Sony Pictures also sent us a communique stating this the same.

     

    The question which everyone seems to be asking is how will the two investors holding a significant minority investment of 18-odd per cent react to this. Will they – given their buy of Rs 400 per share and the prevailing rate of Rs 320 (at 1pm today) be happy with the way things are.

     

    Will there be a settlement between Zee, Sony and the unhappy investors? Or will they make life difficult for the powers that be.

     

    And also very importantly, will Zee founder and chairman emeritus Subhash Chandra have a role in the merged entity? The reason for this question is that there were charges by some quarter that despite exiting from an executive role, he continued to steer the company.

     

    The due diligence will start. In the past, we have had some stories about Zee acquiring an FM station network and a music network that have not materialised. But this is different and much larger.

     

    A few years back, Zee unveiled a new identity with the tagline ‘Extraordinary Together’. Will the mega entertainment merchants Sony and Zee indeed be extraordinary together?

     

    Here’s the press release issued by Zee Entertainment:

    The Board has evaluated not only on financial parameters, but also on the strategic value which the partner brings to the table. The Board concluded that the merger will be in the best interest of all the shareholders & stakeholders. The merger is in line with ZEEL’s strategy of achieving higher growth and profitability as a leading Media & Entertainment Company across South Asia. The Board has authorized the management of ZEEL to activate the required due diligence process.

     

    The shareholders of SPNI, will hold a majority stake in the merged entity. The shareholders of SPNI will also infuse growth capital into SPNI as part of the merger such that SPNI has approximately USD 1.575 billion at closing, for use in pursuing other growth opportunities.

     

    Basis the existing estimated equity values of ZEEL and SPNI, the indicative merger ratio would have been 61.25% in favour of ZEEL. However, with the proposed infusion of growth capital into SPNI, the resultant merger ratio is expected to result in 47.07% of the merged entity to be held by ZEEL shareholders and the balance 52.93% of the merged entity to be held by SPNI shareholders.

     

    ZEEL and SPNI have entered into a non-binding term sheet to combine both companies’ linear networks, digital assets, production operations and program libraries. The term sheet provides an exclusive period of 90 days during which ZEEL and SPNI will conduct mutual diligence and finalize definitive agreement(s). The merged entity will be a publicly listed company in India.

     

    As part of the transaction, Mr. Punit Goenka will continue to be the Managing Director and CEO of the merged entity. Further, certain non-compete arrangements will be agreed upon between the promoters of ZEEL and the promoters of SPNI. According to the term sheet, the promoter family is free to increase its shareholding from the current ~4% to up to 20%, 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.

     

    It is anticipated that the final transaction would be subject to completion of customary due diligence and execution of definitive agreements and required corporate, regulatory and third- party approvals, including the votes of ZEEL’s shareholders.

     

    ZEEL’s strong expertise in content creation and its deep consumer connect established over the last 3 decades, coupled with SPNI’s success across entertainment genres (including gaming and sports) will add significant value to the merged entity and its management team, thereby increasing shareholder value multifold.

     

    Speaking on the development, Mr. R. Gopalan, Chairman, ZEE Entertainment Enterprises Ltd. said, “The Board of Directors at ZEEL have conducted a strategic review of the merger proposal between SPNI and ZEEL. As a Board that encompasses a blend of highly accomplished professionals having rich expertise across varied sectors, we always keep in mind the best interests of all the shareholders and ZEEL. We have unanimously provided an in-principle approval to the proposal and have advised the management to initiate the due diligence process.

     

    ZEEL continues to chart a strong growth trajectory and the Board firmly believes that this merger will further benefit ZEEL. 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 esteemed shareholders of ZEEL for their approval.”

     

    Under the guidance of the Board, the management of ZEEL, ably led by Mr. Punit Goenka, continues to steadily work towards achieving higher profitability in line with its set goals for the future. 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.

     

    And here’s the communique issued by Sony Pictures:

    Sony Pictures Networks India (SPNI) and Zee Entertainment Enterprises Ltd. (ZEEL) today announced that they have entered into an exclusive, non-binding Term Sheet to combine both companies’ linear networks, digital assets, production operations and program libraries.  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.

     

    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.

     

    Under the terms of the non-binding Term Sheet, Sony Pictures Entertainment, the parent company of SPNI, would invest growth capital so that SPNI has a cash balance of approximately USD $1.575 billion at closing for use to enhance the combined company’s digital platforms across technology and content, ability to bid for broadcasting rights in the fast-growing sports landscape and pursue other growth opportunities. Sony Pictures Entertainment would hold a majority stake in the combined company. Current ZEEL Managing Director & CEO Punit Goenka is to lead the combined company. The combined company’s board of directors would include directors nominated by Sony Group and result in Sony Group having the right to nominate the majority of the board members.

     

    It is anticipated that a 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 ZEEL shareholder vote.