Zee

Zee Entertainment Enterprises Ltd (ZEEL) has entered into a one-time settlement agreement with Standard Chartered Bank for the loan taken by Siti Networks, a part of the Essel Group. Standard Chartered Bank had sanctioned certain credit facilities to Siti Networks, which was inter-alia secured by DSRA (Debt Service Reserve Account) support and undertaking from ZEEL. "Since the Borrower has defaulted in its debt repayment obligations to the Bank, the Company has entered into a one-time settlement agreement with the Bank in respect of DSRA Claims/Undertaking in the interest of amicably resolving the issues between the parties," said ZEEL in a regulatory filing on Thursday. Though the company, which is merging with rival Culver Max Entertainment Pvt Ltd, formerly known as Sony Pictures Networks India, has not mentioned the amount. Siti Networks, formerly known as Wire and Wireless Ltd, is a multisystem operator promoted by media baron Subhash Chandra-led Essel Group. Earlier this wee

The settling of dues of about Rs 837 million ($10 million) to the lender could happen as early as Friday and the Mumbai-based bank has agreed to withdraw its insolvency proceedings

Goenka moved the NCLAT on Thursday, a day after the Mumbai bench of the NCLT admitted insolvency proceedings against Zee on a plea filed by IndusInd Bank -- a financial creditor of Zee

The move came after Punit Goenka, chief executive of Zee, challenged the insolvency proceedings against the company

This had triggered the spat between cable operators and broadcasters, with the former saying that the channel price hike would be exorbitant, while the latter saying it was not more than 5-15%

Firm says it will fileits reply rejecting the claim on the ground that there was a pre-existing dispute between the parties on the claimed amount

Cinema is the core of India's creative ecosystem feeding TV, OTT, advertising, music and several other businesses

Big Magic, Zee Action and Zee Classic are all part of Zee network; the merging firms have a combined viewership share of 36% in Hindi general entertainment, and 33% in Hindi movies

On October 4, CCI said it has cleared the proposed Zee-Sony merger deal, which was announced in September last year

This is the second block deal by Invesco in seven months, which offloaded 7.8% stake in Zee Entertainment in April

Sony and Zee confirm development, say awaiting remaining regulatory approvals

Competition Commission on Tuesday gave its conditional approval for the proposed merger between media groups Sony and Zee, according to sources. The approval has been given after the Competition Commission of India (CCI) accepted the voluntary remedies proposed by the parties to allay possible anti-competitive concerns, the sources close to the development said. The proposed merger of Zee Entertainment Enterprises Ltd (ZEEL) with Sony Pictures Network India (SPNI) was announced in September last year. The deal would help Sony to expand its media business in India. SPNI is an indirect wholly-owned subsidiary of Sony Group Corporation, Japan. Deals beyond a certain threshold require the approval of the CCI.

I&B Ministry had asked Zee Media to remove its ten regional news channels from the Ku-Band (a form of satellite frequency) on the GSAT-15 Satellite, that was making these accessible on DD Freedish

The Competition Commission of India's (CCI) Aug. 3 notice to the two companies stated the watchdog is of the view that a further investigation is merited

Merged entity to retain Zee's stock market listing, though Sony would provide large cash injection and hold 51% stake

CLOSING BELL: The top laggards were Bajaj Finserv, IndusInd Bank, Bajaj Finance, Hindalco, Tech M, Tata Motors, ICICI Bank, Adani Ports, NTPC, and TCS

The e-auction for the media rights from 2023 to 2027 will be held on June 12.

Statement comes as company re-enters sports broadcasting after six years; unlikely to bid along with Sony

A mix of history, the pandemic and its cascading effects are among the reasons for this action

Invesco holds an 18 per cent stake in Zee and wants to remove Goenka from the board and appoint its own nominees after a bitter legal feud broke out between the shareholders.