Entertainment
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.
Complete News Source : Hindustan Times
Entertainment
In response to the murder case involving Kannada star Darshan, Kichcha Sudeep says: “Will be relieved if the offender faces punishment”
The main focus of media attention has been the Renukaswamy murder case, in which actors Darshan and Pavithra Gowda, a friend of Darshan’s, are the primary defendants. Prominent Kannada actor Kichcha Sudeep called for justice for the victim’s unborn kid and wife as additional horrible details from the murder case came to light. Also read | Kannada actor Pavithra Gowda is not Darshan’s second wife or partner, according to his lawyer: “They are friendly with each other.”
On Darshan’s arrest in the murder case, Kichcha Sudeep
In a recent interview with the media, Kichcha Sudeep said, “We are not going to the police station to obtain the information, therefore we are just aware of what the media is presenting us. It appears that the police and the media are putting a lot of effort into finding the truth. Undoubtedly, that family is deserving of justice. Justice should be served to that girl. Justice is due to Renukaswamy, who passed needlessly on the streets. The foetus is entitled to justice. Above all, justice should win in this case, and everyone should have faith in it.”
“The Kannada sector requires a clean chit.”
He stated that the murder case has damaged the reputation of the Kannada cinema industry without naming Darshan. “Everyone’s heart goes out to that family,” stated Kichcha Sudeep. There’s something off about the vibe. Justice should be served to the film business. The film business appears to be singled out for blame. The business requires a clean sheet. Numerous artists are participating. A movie is more than just one or two actors. If the offender is brought to justice, the film industry will feel comforted.”
On June 11, Darshan, Pavithra Gowda, and other individuals were taken into custody in relation to the June 8 murder of Renukaswamy, a Chitradurga native. It is said that he was kidnapped, tortured, and killed because he sent obscene messages to Pavithra.
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