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Zomato Completes Acquisition of Paytm’s Entertainment and Ticketing Business

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Zomato has successfully completed the acquisition of Paytm subsidiaries Wasteland Entertainment Pvt Ltd (WEPL) and Orbgen Technologies Pvt Limited (OTPL) for ₹2,048 crores, marking its entry into the entertainment ticketing business. This strategic move aims to expand Zomato’s reach beyond food delivery into the entertainment sector. The acquisition, finalized on August 21, was confirmed through official filings by both companies. The deal, valued on a cash-free, debt-free basis, highlights the value Paytm has created in the entertainment ticketing space, with its platforms TicketNew and Insider offering convenience to millions of users. As part of the agreement, Zomato will acquire a 100 percent stake in WEPL and OTPL, bringing approximately 280 employees from Paytm’s entertainment ticketing division under its wing. During a 12-month transition period, movie and event tickets will continue to be available on the Paytm app and the TicketNew and Insider platforms, ensuring uninterrupted service for users. Paytm, which had invested ₹268 crores to acquire TicketNew and Insider between 2017 and 2018, plans to refocus on its core payments and financial services business. Despite this divestment, the entertainment ticketing segment remains an important milestone in Paytm’s journey. Following the announcement, Zomato’s stock opened in green at ₹256.20, reflecting investor confidence in the company’s expanded business strategy. Over the past six months, Zomato has delivered a 60 percent return to its shareholders, underscoring the market’s positive outlook on the company’s growth prospects. Source: Hindustan Times

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Mukesh Ambani: Disney Deal Ushers in New Era for India’s Entertainment Industry

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Reliance Industries Chairman Mukesh Ambani hailed the merger of media assets between Reliance and Walt Disney as a transformative moment for India’s entertainment sector. Speaking at the Reliance AGM, Ambani emphasized that the partnership marks the start of a new era by blending content creation with digital streaming, much like Reliance’s success with Jio and Retail. The deal, approved by the Competition Commission of India (CCI), combines Reliance’s media holdings, including TV18 and the Colors brand, with Disney’s assets, creating India’s largest media empire valued at over Rs 70,000 crore. The joint venture will house two major OTT platforms, Disney Hotstar and Jio Cinema, along with 120 television channels. Ambani highlighted that the combined media business would be a crucial growth center for the Reliance ecosystem, promising to deliver world-class digital entertainment to cater to diverse consumer tastes at affordable prices. “Our digital-first approach will deliver unparalleled content,” he added, underlining the potential of this venture to redefine India’s media landscape. The merger will see Reliance and its affiliates hold a 63.16% stake in the combined entity, while Disney will hold the remaining 36.84%. Reliance has committed to investing nearly Rs 11,500 crore into the venture to enhance its competitive edge against rivals like Sony and Netflix. Nita Ambani, wife of Mukesh Ambani, will chair the new joint venture, with Uday Shankar serving as Vice Chairperson. The CCI’s clearance of the merger followed adjustments proposed by both parties to the original transaction structure. Source: Business Standard

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Air India Launches Wireless Inflight Entertainment Service ‘Vista’

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Air India has launched a new wireless inflight entertainment service, ‘Vista,’ for passengers on its wide-body aircraft as part of efforts to enhance the onboard experience until the completion of a fleet retrofit. This move comes in response to customer complaints about non-functional inflight entertainment systems on certain flights operated by the Tata Group-owned airline. The ‘Vista’ service is currently available on the existing wide-body fleet and will soon be extended to narrow-body planes. However, the service is not yet available on the newly-inducted B777 and A350 aircraft, according to an official release. With Vista, passengers can enjoy uninterrupted entertainment on their personal electronic devices. The system offers access to movies, TV shows, and music, along with a live map display for real-time flight tracking. The introduction of Vista aims to fill the entertainment gap while the airline’s older aircraft undergo retrofitting and the induction of new planes continues. Air India’s new wide-body planes feature advanced inflight entertainment systems, and the carrier’s operational fleet now consists of 140 aircraft. As the airline continues its modernization journey, the introduction of Vista is a step towards addressing customer concerns and ensuring a seamless inflight experience. Source: Business Standard  

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Allu Arjun’s Old Comment on Hrithik Roshan and Prabhas Resurfaces Amid Arshad Warsi’s Remarks

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A throwback video of Allu Arjun comparing Prabhas with Hrithik Roshan has gone viral, rekindling discussions on social media. In the clip, Allu Arjun, quoting SS Rajamouli, humorously mentions that “Hrithik Roshan is nothing in front of Prabhas,” while praising Prabhas as “number one.” This resurfaced video has sparked chatter online, especially in the context of recent comments made by Arshad Warsi about Prabhas in Kalki 2898 AD. In the viral clip, Allu Arjun lauds Prabhas for his impressive action sequences, echoing Rajamouli’s statement. The video shows Prabhas smiling at the remark, while Hrithik Roshan’s fans took the comment as a lighthearted compliment, acknowledging Hrithik as a “benchmark to beat.” Redditors were quick to react, with many noting that the remark was likely made in a playful manner to hype Prabhas. One user commented, “They are using Hrithik as a bar, which is actually a huge compliment.” Others noted that such comparisons are common in India as a way to elevate someone’s stature. Another comment read, “Hrithik remains a standard across the industry from North to South.” This renewed discussion comes after Arshad Warsi recently made headlines by calling Prabhas’ appearance in Kalki 2898 AD reminiscent of a “joker.” Warsi was sharing his thoughts on recent films, expressing that while he admired Amitabh Bachchan’s performance in the movie, he wasn’t impressed with Prabhas’ look, suggesting it could have been more impactful. This ongoing debate highlights how Hrithik Roshan continues to be regarded as a yardstick for comparisons in Indian cinema, while stars like Prabhas carve their own path with the support of fans and industry insiders alike. Source: News 18

Allu Arjun’s Old Comment on Hrithik Roshan and Prabhas Resurfaces Amid Arshad Warsi’s Remarks Read More »

Stree 2 Box Office Report: Is It Bollywood’s Biggest Opener Ever? Maddock Films Claims ₹76 Crore Haul

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Rajkummar Rao and Shraddha Kapoor’s much-anticipated horror-comedy Stree 2 made waves at the box office, setting a new benchmark. Directed by Amar Kaushik, the sequel to the 2018 hit Stree was released on Independence Day, following paid previews the day before. The film is the fifth installment in the Maddock Supernatural Universe, also featuring Pankaj Tripathi, Abhishek Banerjee, and Aparshakti Khurana. Stree 2 created significant buzz before its release, leading to what the producers, Maddock Films, claim to be the biggest opening ever for a Hindi film. According to them, the film grossed ₹76.5 crore in India on its first day, including the revenue from paid previews. Maddock Films took to X (formerly Twitter) to announce the milestone, stating, “Stree 2 creates HISTORY! India’s highest Day 1 Box Office ever! Thank you, audience, for all the love.” They also shared a poster featuring the film’s cast with the caption, “India’s highest day 1 box office ever!” The strong pre-release anticipation and positive reception have positioned Stree 2 as a potential blockbuster, signaling another success for the Maddock Supernatural Universe. Source: Hindustan Times

Stree 2 Box Office Report: Is It Bollywood’s Biggest Opener Ever? Maddock Films Claims ₹76 Crore Haul Read More »

1 Arrested in Matthew Perry Death Case Linked to Ketamine Overdose

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Authorities have arrested at least one person in connection with the death of “F.R.I.E.N.D.S” actor Matthew Perry, who passed away last year due to a ketamine overdose, according to US media reports. TMZ and NBC revealed that while multiple arrests, including that of a doctor, were initially reported, law enforcement confirmed that only one individual has been arrested so far. Matthew Perry, famously known for his portrayal of Chandler Bing on the hit sitcom “F.R.I.E.N.D.S,” was found unconscious in his pool in October 2023 at the age of 54. His sudden death led to an outpouring of grief from fans and fellow actors worldwide. The autopsy revealed that Perry’s death was caused by acute ketamine effects. Though only small traces of the drug were found in his stomach, a significant amount was detected in his bloodstream. Ketamine, commonly used as an anesthetic and researched for its potential in treating depression, is also illicitly used for its hallucinogenic effects. The investigation, launched by Los Angeles police in May, focused on how Perry acquired the drug, as he reportedly hadn’t undergone a supervised infusion session for several days before his death. Sources suggest that the arrested individual, possibly a doctor, and others involved, allegedly facilitated the delivery of ketamine to Perry. The legal probe into Perry’s death continues as more details emerge regarding those potentially responsible. Source: Financial Express

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Paris 2024 Wrestling: Aman Sehrawat Wins Bronze, Becomes India’s Youngest Olympic Medal Winner

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Aman Sehrawat secured a bronze medal in the men’s freestyle 57kg wrestling event at the Paris 2024 Olympics, making history as India’s youngest Olympic medalist. At just 21 years and 24 days old, Aman surpassed PV Sindhu’s record of 21 years, one month, and 14 days, set when she won silver at the Rio 2016 Olympics. On his Olympic debut, Aman, who is also an Asian champion, triumphed over Puerto Rico’s Darian Cruz, a Pan American Games bronze medallist, with a decisive 13-5 victory. This win marked India’s first wrestling medal at Paris 2024, its sixth overall at these Games, and the second consecutive Olympic medal in the event following Ravi Kumar Dahiya’s silver at Tokyo 2020. Notably, Aman had defeated Dahiya in the national wrestling trials to earn his spot at the Paris 2024 Olympics in the men’s 57kg category. India’s tally at the Paris Games now stands at one silver and five bronze medals. In wrestling, this bronze marks India’s eighth Olympic medal in the sport. The list includes silver medals won by Sushil Kumar at London 2012 and Ravi Kumar Dahiya at Tokyo 2020, with the other six being bronze. In his bronze medal match, Aman initially fell behind when Darian Cruz attacked his leg and pushed him out of bounds, earning the first point. However, Aman quickly responded with a takedown, securing two points, and eventually took control of the match. Despite Cruz’s aggressive attempts, Aman’s defense and swift counter-attacks secured him a well-deserved victory. Aman’s achievement also contributed to making Paris 2024 India’s second-most successful Olympic Games in terms of medal count. India had previously won six medals at London 2012 (two silvers and four bronze) and seven medals at Tokyo 2020 (one gold, two silvers, and four bronze). Aman’s journey to the bronze was challenging. He was defeated in the semi-finals by Japan’s Rei Higuchi, the Rio 2016 silver medallist. Before that, he registered impressive back-to-back wins on technical superiority, defeating Macedonia’s Vladimir Egorov, a former European champion, in the round of 16, and Albania’s Zelimkhan Abakarov, a former world champion, in the quarter-finals. Six wrestlers are representing India at the Paris 2024 Olympics. Nisha Dahiya (women’s 68kg) was eliminated in the quarter-finals, Vinesh Phogat (women’s 50kg) was disqualified due to a failed weigh-in, and both Antim Panghal (women’s 53kg) and Anshu Malik (women’s 57kg) were knocked out in the opening round. Reetika Hooda will begin her campaign in the women’s 76kg division on Saturday.

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Neeraj Chopra Wins Silver, Arshad Nadeem Sets Olympic Record in Paris 2024 Javelin Final

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Neeraj Chopra, the defending Olympic champion, secured a silver medal in the javelin throw final at the Paris 2024 Olympics, with a throw of 89.45m. However, the night belonged to Pakistan’s Arshad Nadeem, who claimed the gold with an Olympic record-breaking throw of 92.97m. Neeraj entered the final with high expectations after a strong performance in the qualifiers, where he recorded a season-best throw of 89.43m. In the final, despite a new season-best throw, Neeraj couldn’t surpass Nadeem’s astonishing second-round throw. Nadeem further solidified his dominance with a 91.79m throw in his final attempt, securing his victory and marking Pakistan’s first Olympic gold since Barcelona 1992. Speaking after the event, Neeraj congratulated Nadeem, acknowledging that it was the first time in their eight-year rivalry that he had been bested by his Pakistani counterpart. Despite the setback, Neeraj’s silver medal is historic, making him the first Indian to win back-to-back medals in track and field at the Olympics. Neeraj revealed that an adductor injury had hampered his performance, leading to five foul throws. He admitted that concerns about aggravating the injury affected his focus and speed. Nevertheless, he expressed determination to return stronger, stating, “There is a lot left in me. Unless I achieve that, I won’t be at peace.” Neeraj Chopra’s achievement cements his status as one of India’s greatest athletes, adding a silver to his gold from Tokyo 2020 and becoming only the fifth Indian to win two Olympic medals. His journey continues as he looks forward to further accomplishments on the world stage.

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Paris 2024 Welcomes the World in Groundbreaking Opening Ceremony on the Seine

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Paris has witnessed numerous memorable moments in history, and the Paris 2024 Opening Ceremony added another unforgettable event to the list. On Friday, July 26, the City of Lights transformed into a sports stadium as the River Seine hosted an extraordinary display of athleticism and artistry. In a historic first, the Opening Ceremony took place outside a traditional stadium setting. The Seine became the track, the quays transformed into spectator stands, and the city’s iconic landmarks stood as silent witnesses to the celebration. The event featured 85 boats carrying 6,800 athletes from 205 National Olympic Committees (NOCs), sailing towards the Eiffel Tower. The ceremony culminated with the Olympic flame ascending into the sky in a cauldron attached to a hot air balloon. Artistic director Thomas Jolly orchestrated the four-hour extravaganza, which was filled with flags, feathers, and raindrops. Despite the pouring rain, athletes danced on boat decks, spectators lined the quays and bridges, ballet dancers performed on rooftops, and Parisians cheered from their balconies. The river parade and artistic performances journeyed through the heart of Paris towards the Trocadero, where French President Emmanuel Macron officially declared the Paris Olympic Games open. “Some may say, we in the Olympic world, we are dreamers. But we are not the only ones,” said International Olympic Committee President Thomas Bach. “And our dream is coming true tonight: a reality for everyone to see. Olympians from all around the globe, showing us what greatness we humans are capable of. So I invite everybody: dream with us. Like the Olympic athletes, be inspired with the joy that only sport can give us. Let us celebrate this Olympic spirit of living life in peace, as the one and only humankind, united in all our diversity.” The Paris 2024 Opening Ceremony was not only a celebration of sports but also a testament to the city’s ability to bring people together in unity and diversity, setting the stage for an unforgettable Olympic Games.

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Wasim Jaffer Set to Become Punjab Kings’ New Head Coach

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Former India opener Wasim Jaffer is set to take over as the head coach of Punjab Kings, succeeding Trevor Bayliss, whose two-year contract with the team has concluded. This appointment marks Jaffer’s return to the Mohali-based franchise ahead of the 18th edition of the Indian Premier League (IPL). Jaffer’s association with Punjab Kings is not new. This will be his third stint with the franchise, having previously served as the batting coach from 2019 to 2021 before stepping down ahead of the IPL 2022 auction. Prior to his new role, he was released from his position as batting consultant before the IPL 2024 season. Jaffer, who played 31 Tests for India, faces a challenging task as the head coach of Punjab Kings. The team, one of the eight founding members of the IPL, has not reached the playoffs for ten consecutive seasons since their only appearance in the IPL final in 2014. In the IPL 2024, Punjab Kings finished ninth on the points table, securing only five wins. Despite recording the highest successful run chase in T20 cricket by chasing down 262 at Eden Gardens against Kolkata Knight Riders and defeating five-time champions Chennai Super Kings at Chepauk, the team struggled to maintain consistent performance. The injury to captain Shikhar Dhawan significantly impacted the team’s performance. It remains to be seen if the franchise will continue with Dhawan, who will turn 39 later this year.

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