Companies should learn to deal with shareholder activism
Bankers say the options before Invesco are to sell its shares to any other rival TV network company and let the incoming shareholder make a counter-offer to the Zee-Sony transaction
Business Standard brings you the top headlines on Friday
Zee is witnessing a battle between its largest shareholder and the original promoters
It seems the market can't make up its mind if India's largest pvt television network, with a 17% share nationwide, is more valuable with the founders in the driver's seat or out of the wagon entirely
Deal promises edge in market share for Zee, Sony over Disney and could help Sony raise funds to bid for sporting events
Chandra family to hold 4% stake in merged firm, with option to increase it to 20%
Its operating profit fell 67 per cent on weak revenues, investments
The bloody clash between Indian and Chinese troops in Ladakh last week has sparked a popular demand for the shunning of Chinese products, ranging from apps to mobile phones.
It is so very rare for Indian media businesses to grow out of their founding family's shadow, however, benevolent it may be
Chandra made his way through packaging, publishing, leisure parks, broadcasting, cable, DTH, electronic lotteries, and so on
The promoters of Essel group have got further extension from the lenders
Rs 170-cr exceptional item provided for as related parties delayed payment
The Zee management indicated that the delay in closing the balance sale was due to restrictions on insider trading window
It has neither got the money nor a strategic investor. Zee's disappointing deal with Invesco, however, could be a precursor to a better strategic foray
Essel Group said Tuesday the stake sale process of Zee Entertainment Enterprises is at an advanced stage. "The stake sale process of Zee Entertainment Enterprises Ltd undertaken by Essel Group, is in steady progress and at an advanced stage," Essel Group said in a statement. The group cannot share any additional details at this stage due to confidentiality agreements, it added. Zee Entertainment Enterprises had announced in November last year that its promoters, led by Subhash Chandra, planned to sell up to 50 per cent of their equity stake in the company to a strategic partner. On January 25, Essel group companies had come under massive selling pressure, plummeting up to 33 per cent, and suffered a combined erosion of Rs 13,352 crore in market valuation. On January 26, Essel group Chairman Chandra said that his company is in a financial mess and has blamed the same for the aggressive bets on infra, which has gone out of control since the IL&FS crisis and also the acquisition of .
Zee, which is controlled by media mogul Subhash Chandra, is seeking a strategic investor to help fend off competition.
The broadcaster's fourth attempt at digital seems to be paying off, but it remains to be seen if it can turn it into a sustainable business
Channel's schedule, adapted to the local market, will be created by the Polish team
TV9 runs 7 news channels including the TV9 Kannada, TV 9 Marathi and the popular TV 9 Gujarati news channels