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Sony, Zee sign definitive merger agreement amid shareholder spat

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Sony, Zee sign definitive merger agreement amid shareholder spat

Zee Entertainment Enterprises Ltd., India’s largest listed TV network, approved a merger agreement with a local subsidiary of Sony Group Inc. because of complex board and court disputes between Zee’s founder and its largest shareholder.

Sony Pictures Networks India Pvt. According to an exchange document submitted by Zee on Wednesday, it will own 50.86% of the shares of the combined entity, and Zee’s current holding company Essel will own 3.99% of the shares. As part of the final agreement, public shareholders will own the remaining 45.15%. According to the document, Zee’s board approved the appointment of Punit Goenka, the son of founder Subhash Chandra, as the CEO of the newly formed entity.

This transaction will help expand Sony’s media business in the world’s second most populous country, where Zee holds 17% of the media and entertainment market. The transaction announcement was made three months after the announcement of the non-binding agreement between Zee and Sony on September 22, which escalated the acquisition battle between the Chandra family and the Atlanta-based Invesco Development Markets Fund, which owns 18 % Of shares, this is the largest shareholding. The latest development shows that Sony and Chandra are redoubled their efforts to complete the transaction. Although Chandra is eager to retain his family’s influence on the debt-ridden media company he founded in 1992, the acquisition of Zee will allow Sony to reach its global audience of more than 1.3 billion, as well as a huge local Indian language dating back to the 1990s Content library. As of the end of March, Zee’s own streaming media platform is also a leader in local players, with close to 73 million monthly active users.

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Complete News Source : Hindustan Times

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DTC to start electric buses from 3 Delhi ISBTs to Noida airport by May end

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DTC to start electric buses from 3 Delhi ISBTs to Noida airport by May end

The buses will start and currently serve Greater Noida and Jewar, even though the airport is probably not going to be operational by May By the end of May, the Delhi Transport Corporation (DTC) plans to begin operating electric buses from the Capital to the soon-to-be Noida International Airport (NIA) in Jewar, according to officials. The buses will begin at.

Delhi’s three Inter State Bus Terminals (ISBTs) — Maharana Pratap ISBT at Kashmere Gate, Swami Vivekanand ISBT at Anand Vihar, and Veer Hakikat Rai ISBT at Sarai Kale Khan — and currently serve Greater Noida and Jewar, even though the airport is probably not going to meet the May deadline to be operational The Delhi Transport Corporation (DTC) is set to launch.

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Electric bus services connecting Delhi’s Inter-State Bus Terminals (ISBTs) to the upcoming Noida International Airport (NIA) in Jewar by the end of May 2025. This initiative aims to enhance connectivity between the national capital and the new airport, providing a March 2025, DTC and NIA signed operate thesesustainable and efficient mode transportation for.

Key Features of the Service

  • Routes and Terminals: The electric buses will operate from three major ISBTs in Delhi: Maharana Pratap ISBT at Kashmere Gate, Swami Vivekanand ISBT at Anand Vihar, and Veer Hakikat Rai ISBT at Sarai Kale Khan. Initially, these buses will serve areas in Greater Noida and Jewar, catering to the March 2025, DTC and NIA signed an MoU to operate these demand for public transport in these regions.
  • Memorandum of Understanding (MoU): In March 2025, DTC and NIA signed an MoU to operate these bus services, formalizing the collaboration between the two entities The fleet will consist of air-conditioned, low-floor electric buses equipped with modern amenities, including GPS tracking, CCTV cameras, panic buttons, and broad aisle spaces to accommodate luggage. These features aim to ensure.
  • Commuters passenger safety and comfort during transit While the exact fare amounts are yet to be finalized, discussions are ongoing in consultation with the Yamuna Expressway Industrial Development Authority (Yeida), which manages the Jewar area. The authorities aim to establish a cost-effective fare structure for commuters The bus services will initially be deployed on a pilot basis. Depending demand.

Additional Considerations

  • Infrastructure Development: A four-kilometer stretch of road that will be part of the bus route is not fully developed yet. DTC has reached out to Yeida to ascertain the usability and development timeline of this segment to ensure seamless operations. and passenger feedback, routes may be adjusted, and the number of buses increased to better serve commuters this, the bus services will begin as scheduled.
  • Airport Operational Timeline: Although the NIA was expected to commence operations by mid-May 2025, it is likely to miss this deadline due to ongoing construction work. Despite this, the bus services will begin as scheduled, providing connectivity to the surrounding areas in the interim providing connectivity to the surrounding areas in the interi This initiative reflects DTC’s commitment to.
  • Enhancing public transportation infrastructure and promoting eco-friendly travel options in the National Capital Region. By introducing electric buses on this route, the corporation aims to offer a reliable and sustainable alternative for commuters traveling between Delhi and the upcoming Noida International The Delhi Transport Corporation (DTC) is set to commence electric bus services.
  • connecting Delhi’s Inter-State Bus Terminals (ISBTs) to the upcoming Noida International Airport (NIA) in Jewar by the end of May 2025. This initiative aims to provide eco-friendly and convenient transportation options for commuters traveling between Delhi and the new airport NIA was expected to commence.
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  1. Construction, Infrastructure and Mining   
  2. General News Platforms – IHTLive.com
  3. Entertainment News Platforms – https://anyflix.in/

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