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Reliance scraps merger of Viacom18 with Sony after ‘strategic rethink’

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Reliance scraps merger of Viacom18 with Sony after ‘strategic rethink’

Billionaire Mukesh Ambani’s Reliance Industries has called off the proposed merger of his group’s entertainment business with Sony Pictures Networks India following a strategic rethink.

Ambani’s television networks housed in Viacom18 Media Pvt Ltd were to merge with Sony Corp, with the Japanese giant having a bigger stake in the merged entity.

However, Reliance has now had a rethink and has decided not to pursue the merger route, sources with direct knowledge of the development said.

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Instead, the company is now keen to invest more in digital content creation.

Digital media and entertainment is an essential pillar of telecom unit Jio’s digital business strategy, they said adding Reliance plans to invest aggressively and grow the digital media business.

Reliance, they said, wants to retain management control over the digital operations and invest behind creating India’s No.1 OTT destination as well as a broadcast platform.

Viacom18 Media Pvt Ltd is a joint venture between TV18 Broadcast Ltd and Viacom Inc. TV18 owns 51 per cent share in the unit.

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Currently, Viacom18 operates more than 40 channels in seven languages.

It also operates a film company, Viacom18 Motion Pictures, video streaming platform Voot, has interests in live events and merchandising, besides a distribution company, IndiaCast Media.

Sony Pictures Networks India, on the other hand, a subsidiary of Sony Corp., runs more than 20 channels, including several sports networks.

Sources said Reliance was no longer keen for a deal especially after the introduction of the fibre-to-home strategy that provides access to 12 OTT (over-the-top) streaming apps including Netflix, Amazon Prime Video, Disney+ Hotstar, JioCinema, Zee5, Sony Liv, Voot, Alt Balaji, Sun NXT, Shemaroo, Lionsgate Play, and Hoichoi.

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Laid stars Stephanie Hsu and Zosia Mamet reveal the worst gifts their romantic partners gave them | Exclusive

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Laid stars Stephanie Hsu and Zosia Mamet reveal the worst gifts their romantic partners gave them | Exclusive

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Stephanie Hsu and Zosia Mamet talk about their new series Laid, and some of the horrors of dating as millennials.
Imagine a scenario where anyone and everyone you have ever been intimate with begins to die one by one. Is it a curse? If yes, then who is cursed? These are questions that Stephanie Hsu‘s Ruby battles with in the new zany comedy, Laid. Ahead of the show’s release, Stephanie and co-star Zosia Mamet spoke exclusively with HT about their roles, the show’s unique premise, and the horrors of dating as millennials. (Also read: Dune: Prophecy star Emily Watson on working with Tabu: ‘She is a true treasure’)

Stephanie Hsu on her character’s flawed morality

Laid, created by Nahnatchka Khan and Sally Bradford McKenna, is the story of Ruby (Stephanie Hsu), who discovers that all her sexual partners are dying one by one, and she must warn them. Helping her in this unique quest is her best friend AJ (Zosia). The fun thing about Laid is that the protagonists are not the usual likeable characters. “She is totally an anti-hero of our story. I really love that,” says Stephanie, referring to Ruby’s moral greyness. “I am not a perfect person and I love playing flawed characters. But it was difficult. The creators told me that she is a total narcissist. But narcissists don’t think they are one, so I had to figure out a way to love her. For me, playing Ruby was about getting into her psychology and finding the innocent part of her – which is that she just wants love,” the actor adds.

While sitcoms usually add the best friend as the voice of reason trope, Laid diverges from that, with AJ even zanier and more morally ambiguous than Ruby. Talking about playing such a colourful character, Zosia Mamet says, “When you play not-so-likable or zany characters, people don’t believe they are that way. I don’t think AJ wakes up every morning and thinks, ‘I am absolutely crazy’. It’s about trusting the writing and finding an organic way into these characters to make them seem grounded, real, and relatable.”

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Stephanie, Zosia reveal the worst gifts they received from partners

In Laid, Ruby gives the gift of death to the men she is with, even if that is inadvertent. Ask the women about the worst ‘gift’ a partner has ever given them, and the discussions veer into the unusual horrors of modern-day dating. “I got a vintage wooden duck decoy from someone. It was broken, and I thought, ‘What does this say about our relationship?’. They didn’t know me well enough to know if I’d want this but also that they gave me something old and ailing,” Zosia says with a laugh.

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