Page 2 - Zee Group

Zee stock zooms 14% on settling merger termination dispute with Sony

Zee Entertainment in an exchange filing today said, both companies had agreed to withdraw all respective claims against each other, in the ongoing arbitration at the Singapore.

Zee's Securities Issue & Allotment Committee approves FCCBs worth $239 mn

Zee Entertainment on Tuesday said the Securities Issue and Allotment Committee of the company has approved the allotment of foreign currency convertible bonds (FCCBs) worth USD 239 million to investors. In a regulatory filing, Zee Entertainment Enterprises Limited said it has considered and approved the allotment of FCCBs of up to USD 239 million (around Rs 2,000 crore) maturing in 10 years on a private placement basis to Resonance Opportunities Fund, St John's Wood Fund Ltd and Ebisu Global Opportunities Fund. On July 16, the board of Zee Entertainment Enterprise Ltd (ZEEL) approved the raising of funds through FCCBs with a coupon rate of 5 per cent of up to USD 239 million from investors - Resonance Opportunities Fund, St. John's Wood Fund Ltd and Ebisu Global Opportunities Fund. These FCCBs will not be listed on any of the stock exchanges, it had said. However, investors who choose to convert their bonds into shares will pay Rs 160.20 per share. "In case of conversion of all FC

Zee Ent Q1 results: Profit up at Rs 118.10 cr, revenue rises 7.6%

Zee Entertainment Enterprise Ltd on Wednesday reported a consolidated net profit of Rs 118.10 crore for the first quarter ended June 30, 2024. The company had reported a net loss of Rs 53.42 crore in the April-June quarter a year ago, Zee Entertainment Enterprise Ltd (ZEEL) said in a regulatory filing. The total income of the company was up 7.56 per cent to Rs 2,149.52 crore during the quarter under review. It was at Rs 1,998.26 crore in the corresponding quarter. Total expenses of ZEEL was at Rs 1,941.12 crore, marginally up in the June quarter of FY25. Shares of Zee Entertainment Enterprise Ltd on Wednesday were trading at Rs 147.60 on BSE, up 1.72 per cent from the previous close.

Bombay HC directs Subhash Chandra to furnish documents sought by Sebi

Zee founder had filed writ petition against regulator's summons in fund diversion case

Zee Entertainment to raise nearly $240 million, to use funds for growth

Zee said it will use the funds to "enhance its strategic flexibility to pursue future growth opportunities in the evolving media landscape"

After collapse of merger talks, Zee seeks $90 mn termination fees from Sony

Zee said it has, on account of Culver Max's and BEPL's breaches under the merger cooperation agreement, terminated the agreement by issuing a letter dated May 23

Zee Entertainment Q4 results: Posts consolidated net profit of Rs 13.35 cr

Zee Entertainment Enterprises Ltd on Friday reported a consolidated net profit of Rs 13.35 crore in the March quarter. The company had posted a consolidated net loss of Rs 196.03 crore in the same period of the previous fiscal, Zee Entertainment Enterprises (ZEEL) said in a regulatory filing. Consolidated total income in the quarter stood at Rs 2,185.29 crore as against Rs 2,126.35 crore in the corresponding period a year ago, it added. In the fourth quarter of FY24, domestic advertising revenue grew 10.6 per cent year-on-year driven by the continued recovery in macro advertising environment and spending pickup by FMCG clients, while subscription revenue growth was driven by pick up in linear subscription, the company said in an investor presentation. Total expenses in the fourth quarter were lower at Rs 2,043.76 crore as compared to Rs 2,083.35 crore in the year-ago period. The board of directors has recommended a final dividend of Re 1 per equity share having face value of Re 1

Zee's plan to gun for growth on its own holds perils as well as promise

Analysts are waiting for a big move on the free-to-air market, either by going back on DD Freedish or by doing a big deal with YouTube, the largest video platform

NCLAT to hear IDBI Bank, Axis Finance plea on Zee-Sony merger on May 17

Axis Finance and IDBI had challenged the merger in NCLAT

HC reserves order on Bloomberg's plea over take down of article against Zee

The Delhi High Court on Thursday reserved the order on plea moved by Bloomberg Television Production Services India Private Limited challenging the order of the Saket district court directing it to take down an article titled "India Regulator Uncovers USD 241 Million Accounting Issue at Zee" published on February 21 from its website.The bench of Justice Shalinder Kaur decided to reserved the order after hearing the submissions at length of both sides.The article claimed that the Securities & Exchange Board of India (SEBI) had apparently "found a discrepancy of more than USD 240 million in the accounts of Zee Entertainment Enterprises Ltd".The Saket Court on March 1 stated that the plaintiff/Zee has made out a prima facie case for passing ad interim ex-parte orders of injunction, the balance of convenience is also in favour of the plaintiff and against the defendant/Bloomberg and irreparable loss and injury may be caused to the plaintiff, if the injunction as prayed for is not ...

RIL-Disney 'game-changing' deal gets a thumbs-up from analysts

The development will be negative for other players such as Zee, analysts said, who will now have to compete with a much larger entity

Zee saga: Sony's spurned target shows pitfalls of tempting Indian M&A

To foreign investors, the Sony-Zee saga is a reminder of the need to approach Indian deals with an abundance of caution

Startup & family business governance

Boards must rely on and act upon early warning signals of behavioural aberrations beyond the boundaries of business sanity and neeyat

Mutual funds pare holdings in Zee Ent by 40% post Sony merger deal fallout

Shares held by active MF schemes decline 40% to 173 million

Sebi debars TV experts and research analysts for 'stock manipulation'

Experts shared recommendations to certain entities before broadcast; Wrongful gains pegged at Rs 7.5 crore

NCLT issues notice on Zee's plea seeking directions for Sony merger

NCLT has granted two weeks to Sony to file its reply and listed the case for hearing on March 12

Can go to NCLT to enforce Sony merger deal after SIAC rejects petition: Zee

Sony scrapped the merger on Jan. 22, ending a deal that could have created one of India's biggest TV broadcasters, claiming breaches of contract

Zee-Sony merger: NCLT issues notice to Sony to file reply in three weeks

The National Company Law Tribunal (NCLT) on Tuesday accepted a petition by a Zee Entertainment shareholder seeking the merger of its Indian entity with Sony, which was called off last week despite regulatory approvals. The Mumbai-bench of NCLT issued a notice on a petition moved by Mad Men Film Ventures, a shareholder of Zee Entertainment Enterprises (ZEEL), directing Sony Pictures Network India, now known as Culver Max, to file a reply within three weeks. Mad Men Film Ventures on Tuesday filed the petition requesting both ZEEL and Sony to implement the merger as it was approved by the NCLT in August 2023. The tribunal did not agree to the arguments made by the counsel stating that the approval by NCLT was conditional and depended on various conditions, which may be fulfilled or waived off in writing. NCLT has kept the next date of hearing on this matter on March 12. Last week, the Sony Group Corp called off the merger with ZEEL following a stalemate over who will lead the merged

Street signs: P-notes surge, grey market frenzy, and Zee exposure trim

Shares of BLS E-Services, an e-governance services enabler, are in high demand in the grey market ahead of its Rs 311 crore initial public offering (IPO)

A game of bluff scuttled Sony-Zee's plans to create $10 bn media giant

While Sony's India head sought to rally the morale of his employees in a letter Wednesday, it was thin on details on how it plans to fend off rivals