Page 10 - Sony

ZEEL spent Rs 366 crore on compliances for its now-failed merger with Sony

Zee Entertainment Enterprises Ltd (ZEEL) spent Rs 366.59 crore on compliances till September 2023 for its now-failed merger with Sony, which called off the deal on Monday. The company had spent Rs 176.20 crore in the financial year that ended in March 2023. Besides, it spent Rs 190.39 crore in the first six months of the current fiscal, according to a regulatory filing by the Subhash Chandra family-promoted media entity. After signing an agreement, ZEEL was racing to receive a series of regulatory clearances from SEBI, CCI, ROC, etc. It also got a go-ahead from the National Company Law Tribunal after receiving approvals from shareholders and creditors and closed all formalities for the merger. However, Sony Group Corp on Monday called off the USD 10 billion merger of its India unit with Zee Entertainment, following a stalemate over who will lead the merged entity, besides not satisfying other conditions for the merger. It sent a termination notice to Zee on the deal, which was ...

Sony-Zee merger: ZEE promises legal action over termination notice

Culver Max and BEPL sent a termination notice with a $90 million fee to ZEEL after Sony cancelled the merger deal valued at $10 billion

Sony-Zee merger timeline: How leadership dispute ended the $10 bn deal

Sony Group Corp has called off its merger with Zee after nearly two years of negotiating the $10 billion deal, which was set to become India's fourth-largest media house

Sony Board to take call on $10 billion merger with Zee Entertainment today

Zee MD and CEO Punit Goenka has offered to step down from his chief executive role, ahead of the deadline for the merger deal on January 20

The merger drama in television

With India hardly being a hot destination for media investments, the twists and turns in the Sony-Zee merger deal is bad news for the industry

Zee-Sony merger may be called off, termination notice to be filed by Jan 20

Discussions are still ongoing between the two sides and a resolution can still emerge before the deadline

Sony launches athletes-focused Float Run headphones in India: Details here

The Float Run headphones are now available at Sony Center website and other e-commerce platforms at Rs 10,990

Blackstone to buy major stake in Sony Payment Services for $280 mn

Blackstone Inc. will take a majority stake in a payment service provider under Sony Group Corp. for about $280 million, a person familiar with the matter said

Sony, Zee have one-month grace period to complete $10 billion merger

The grace period, as well as the talks on a further deadline extension, are keeping hopes alive for a two-year-old transaction that has already seen ample drama and delays

Sony sold over 50 million Play Station 5 gaming consoles over three years

Sony's games business was its largest unit by sales and the second-biggest contributor to operating profit after music in the last financial year

Sony's video game plans leaked by Rhysida ransomware group: Report

Sony-owned Insomniac Games' more than 1.3 million files, including game roadmaps, budgets and information about an upcoming "Wolverine" title, have been leaked online by the Rhysida ransomware group

Zee Ent slips 4% as it seeks to extend deadline for merger with Sony

The request to extend the deadline comes just a day after two independent directors were unable to secure the re-appointment of the company's board

NCLAT refuses to stay Zee-Sony merger, case now to be heard in January

IDBI Bank and Axis Finance had challenged the August 10, 2023, order of the Mumbai bench of the National Company Law Tribunal (NCLT), which approved the Zee-Sony merger

Why large consumer brands have a lot at stake in Disney, Sony deals

The first of these two transactions may come as early as Monday and would see Walt Disney Co. enter into a non-bidding agreement with Mukesh Ambani to merge their media businesses in the country

Sony confident for double-digit growth in India, helped by premiumisation

Consumer electronics maker Sony India expects a 15-20 per cent growth in this fiscal with the trend of premiumisation in the Indian TV and audio market helping it make a turnaround, a top company official said. The company's premium television category comprising screen size of 55 inches and above along with audio products would be the "key growth drivers" for Sony India, as the trend of premium products has evolved in the country, Sony India Managing Director Sunil Nayyar said. "FY24 is also looking very promising. We are looking forward to a growth of 15 to 20 per cent (by value) as an overall company and of course, needless to say, profitability is also going to be good," Nayyar told PTI. Sony India, a wholly owned subsidiary of Japan's tech major Sony Corporation, had recently in a RoC filing reported a 31.8 per cent increase in profit for 2022-23 and its revenue from operations was up 23.1 per cent to Rs 6,353.74 crore. Earlier Sony India was struggling with a fall in revenue

Zee-Sony merger: IDBI Trusteeship files appeal against Chandra at NCLAT

The appeal challenges the National Company Law Tribunal (NCLT) Mumbai order rejecting IDBI trusteeship's objection to the merger

Sony-Zee merger risks collapse ahead of its deadline over CEO drama

Zee is insisting that its Chief Executive Officer Punit Goenka - also its founder's son - will helm the new entity, as agreed in the pact signed in 2021, while Sony is wary of his appointment

Sony to integrate in-camera authentication into Xperia smartphones: Report

Sony has confirmed that this feature will be released as a firmware update for the upcoming Alpha 9 III, Alpha 1, and Alpha 7S III mirrorless cameras

Sony is testing in-camera authentication to validate original content

The feature will safeguard the authenticity of captured images and provide an extra layer of security to aid news agencies

Sony faces $7.9 billion mass lawsuit over PlayStation Store prices in UK

Sony Interactive Entertainment (SIE) was sued last year on behalf of nearly nine million people in the United Kingdom who had bought digital games or add-on content through Sony's PlayStation Store