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Disney and Reliance Forge Mega Merger, Creating Entertainment Powerhouse

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Disney and Reliance Industries have inked a non-binding term sheet, paving the way for a mega-merger of their Indian operations. The collaboration, once finalized, would birth one of India’s largest entertainment conglomerates. The deal outlines that Mukesh Ambani’s Reliance group will stake claim to 51% ownership of the merged entity, utilizing a combination of shares and cash. Disney, on the other hand, will retain the remaining 49% of shares. The agreement was reached during a meeting in London last week, where Disney’s representative, Kevin Mayer, and Reliance’s advisor, Manoj Modi, finalized the non-binding term sheet after months of collaborative efforts. The merger is on track for completion by February, though Reliance aims to expedite the process, targeting late January for the finalization. Disney’s pursuit of a strengthened position in India aligns with its broader strategy. Facing challenges such as job cuts and investor pressure, Disney aims to fortify its presence in the Indian market and improve its financial performance. The integration of Hotstar, acquired as part of the 2019 acquisition of 21st Century Fox assets, played a pivotal role. Disney+ Hotstar, a significant global streaming service for Disney, faced setbacks after losing the Indian Premier League Cricket rights to JioCinema in a $2.9 billion deal last year. Disney executives admitted to underestimating the reluctance of Indian consumers to shift from free to premium plans. Despite the setback, the impending merger with Reliance positions Disney strategically, leveraging the strengths of both entities to create a media and entertainment powerhouse. This development unfolds against the backdrop of the pending $10 billion merger between Zee Entertainment Enterprises and Sony Group Corp.’s local unit, a proposal that, after two years, remains unresolved and has the potential to become the largest media amalgamation in India.

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Greta Gerwig to Lead Cannes Film Festival Jury Following Barbie’s Box Office Triumph

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Renowned director Greta Gerwig, celebrated for her recent blockbuster Barbie, has been appointed as the president of the jury for the upcoming Cannes Film Festival. Organizers of the prestigious French event hailed Gerwig as “a heroine of our modern times” who has successfully disrupted the status quo in the world of cinema. Barbie, Gerwig’s latest film, has not only dominated the box office this year but is also positioned as a strong contender for major awards. Gerwig’s appointment is historic, making her the first female US director to chair the Cannes jury. Cannes, often considered the pinnacle of cinematic expression, holds a special place for Gerwig, who expressed her excitement, stating, “Cannes has always been the pinnacle of what the universal language of movies can be.” She further added that she is “stunned, thrilled, and humbled” to serve as the president of the Cannes Film Festival Jury. Festival organizers Iris Knobloch and Thierry Frémaux jointly acknowledged Gerwig’s audacious embodiment of the renewal of world cinema, declaring her an “obvious choice” for this prestigious role. Gerwig will lead a panel of accomplished filmmakers responsible for selecting the winners of the top prizes at the renowned annual festival, known for launching many acclaimed films worldwide. Gerwig’s previous works, including Lady Bird (2017) and the 2019 adaptation of Little Women, have also received widespread acclaim. As the current week sees Barbie as the frontrunner for both the Golden Globe and Critics’ Choice awards, anticipation builds for its prominent role in the upcoming Oscars. The Cannes Film Festival, scheduled for May, will undoubtedly witness Gerwig’s influence as she takes on the role of leading the jury in selecting outstanding films from around the world.

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ZEE Entertainment Shares Rebound After Initial Plunge on Director’s Exit Ahead of AGM

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ZEE Entertainment Enterprises Ltd (ZEE) witnessed a brief setback as its shares tumbled by 9% during Thursday’s trading session following the unexpected exit of non-executive non-independent director Adesh Kumar Gupta from the board. However, the stock demonstrated resilience, recovering most of its losses as the session progressed. Gupta, who served as a crucial member of the audit committee and chairman of the risk management and stakeholders relationship committees, cited personal reasons and commitments for his departure ahead of the upcoming annual general meeting (AGM). The initial market reaction led to a decline of 8.79%, with the stock hitting a low of Rs 284.10 on the BSE. In his resignation letter, Gupta expressed regret for being unable to continue as a director due to personal reasons and commitments. He withdrew his re-appointment at the AGM but extended his best wishes for the company’s success, particularly emphasizing the completion of the pending merger with Sony. ZEE Entertainment responded by confirming Gupta’s exit from key committees after the AGM. The company’s 41st AGM is scheduled for Saturday, December 16, at 4:00 pm (IST). ZEE has announced that the AGM will be conducted through video conferencing and other audio-visual means, adhering to circulars issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India. Investors, initially concerned about the sudden exit, regained confidence as the trading session progressed, reflecting the market’s anticipation of a smooth AGM and positive outcomes for the pending merger with Sony.

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Veteran Indian Actor Junior Mehmood Succumbs to Cancer at 67, Leaving Behind a Rich Cinematic Legacy

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Renowned Indian actor Junior Mehmood, born Naeem Sayyed, has passed away at the age of 67 after battling cancer. The veteran actor breathed his last in Mumbai last night. His health had deteriorated rapidly as he faced the challenges of stage 4 cancer. Junior Mehmood, known by his stage name, leaves behind a legacy in the Indian film industry, having appeared in more than 250 films over a career that spanned five decades. His notable contributions include roles in iconic films such as Kati Patang, Mera Naam Joker, Parvarish, and Do Aur Do Paanch. He initially entered the film industry as a child actor in Naunihal, sharing the screen with acclaimed actors like Sanjeev Kumar, Balraj Sahni, and Indrani Mukherjee. Apart from his on-screen presence, Junior Mehmood also ventured into film production, contributing to the Marathi film industry with several productions. In his final days, Junior Mehmood had the opportunity to connect with fellow artists. Comedian and actor Johnny Lever paid a visit, after which Junior Mehmood expressed a wish to meet actors Jeetendra and Sachin Pilgaonkar. Both Jeetendra and Sachin Pilgaonkar promptly fulfilled his desire by visiting him. The trio had previously collaborated on various film projects, and their reunion marked a poignant moment in the veteran actor’s final days. Junior Mehmood’s demise is mourned not only by the film fraternity but also by fans who appreciated his versatile performances throughout his illustrious career. His contributions to the world of Indian cinema will be remembered fondly.

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Fighter Teaser Unleashes Hrithik Roshan and Deepika Padukone on a Daring Mission to Save India

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MEA

The much-anticipated teaser for the upcoming action film, “Fighter,” starring Hrithik Roshan, Deepika Padukone, and Anil Kapoor, has been unveiled, sending fans into a frenzy of excitement. The teaser introduces Hrithik Roshan as Patty, with Deepika Padukone elegantly piloting a fighter jet, setting the stage for a thrilling cinematic experience. Accompanied by the powerful caption, “To beat us? You must be joking,” the teaser hints at a fierce mission undertaken by the trio to defend India against formidable adversaries. The Fighter teaser has triggered an enthusiastic response from fans, who flooded the comment section expressing their anticipation. Comments such as “Deepika back to rule Bollywood” and wishes for the film’s success from Hrithik Roshan fans around the world highlight the immense excitement generated by the teaser. Even celebrities, including Rakesh Roshan, Manish Malhotra, Neha Dhupia, and Ayushmann Khurrana, have praised the high-octane action sequences and the star-studded cast. Accompanying the teaser release, new posters featuring Hrithik Roshan as Squadron Leader Shamsher Pathania, Deepika Padukone as Squadron Leader Minal Rathore, and Anil Kapoor as Group Captain Rakesh Jai Singh have been unveiled. The characters’ call signs and designations further enhance the anticipation for this aerial action extravaganza. Directed by Siddharth Anand and produced by Viacom 18 Studios and Marflix Pictures, “Fighter” is poised to be the first installment in an exciting aerial action franchise. The film is scheduled for a theatrical release on January 25, 2024, promising audiences a visually stunning and adrenaline-pumping experience. As fans eagerly await the release, the Fighter team has successfully ignited the anticipation for this cinematic spectacle that aims to defend the honor of India in a truly spectacular fashion.

Fighter Teaser Unleashes Hrithik Roshan and Deepika Padukone on a Daring Mission to Save India Read More »

Oscars 2024 Breaks Tradition: Ceremony to Take Center Stage One Hour Earlier in Primetime Shift

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The Oscars 2024 ceremony will begin one hour earlier than usual, which is a dramatic change in the program’s schedule. The move is a part of the organizers’ plan to continue hosting the prestigious awards show during primetime, when it can reach a larger audience. The telecast is set to broadcast live on March 10 from 7 p.m. to 10:30 p.m. (ET, US time). A 30-minute pre-show will take place ahead of the live ceremony to set the mood and create excitement for the main event. It promises to be an exciting prelude to the highly anticipated awards night. ABC has arranged for a new episode of Abbott Elementary, its Emmy-winning comedy series, to air after the big Oscars party. The well-chosen cast guarantees a smooth transition from the awards show to the cherished sitcom, improving the audience’s overall enjoyment. Notably, Quinta Brunson is the creator, producer, writer, and star of Abbott Elementary, a mockumentary series that has received a lot of praise and been nominated for eight Emmys. The choice to air the show right after the Oscars is an attempt to maximize the number of viewers and keep them interested throughout the whole evening. TV host Jimmy Kimmel will serve as the night’s host, bringing his wit and humor back to the Oscars stage. The production will be led by showrunner and executive producer Raj Kapoor, with executive producers Molly McNearney and Katy Mullan providing a smooth and unforgettable telecast. The renowned filmmaker Hamish Hamilton will direct the live event. The 96th Academy Awards will take place at the esteemed Dolby Theatre at Ovation Hollywood. The glitter and drama will be broadcast live on ABC, reaching viewers in more than 200 countries across the globe. The earlier start time promises a new and exciting twist to the cinematic celebration as the Oscar countdown gets underway, laying the groundwork for an amazing evening in the entertainment and film industries.

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Hotstar Breaks Records with 59 Million Concurrent Viewers for World Cup Final, Surpassing Previous Milestone

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Disney’s Hotstar achieves a groundbreaking milestone with 59 million concurrent viewers during a highly anticipated World Cup final cricket match in India. This surpasses the previous record of 53 million viewers set just a week earlier. With no significant cricket events in the near future, Hotstar is poised to maintain this record for at least six months. The platform now holds a substantial lead in concurrent viewership over its competitor, JioCinema, which peaked at 32 million earlier this year. This achievement occurs against the backdrop of Disney facing challenges in the Indian market, including a decline in digital subscribers. Disney CEO Bob Iger expressed a commitment to the Indian market but acknowledged the need to evaluate options. Preliminary talks with potential partners, including Reliance and private equity firms, have taken place. However, the dynamics of Star India have evolved, with market conditions prompting a shift in focus to core businesses. Hotstar’s subscriber base has experienced a decline of more than 23 million in the past year, according to Disney. The platform faces competition, notably from Viacom18’s JioCinema, led by Mukesh Ambani, who has attracted top executives from Star India and invested $3 billion to stream the IPL cricket tournament for five years. Despite these challenges, Disney had high expectations for the ICC Cricket World Cup, projecting over 50 million concurrent viewers and aiming to reach 82% of India’s total annual video users during the 50-day series.

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Reliance JioCinema Secures Exclusive Deal with Pokemon for Extensive Children’s Content Offering in India

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Reliance JioCinema, the entertainment division of India’s Reliance, has entered into an agreement with The Pokemon Company to feature children’s shows and movies on its platform, sources familiar with the deal revealed. This move is part of Reliance’s strategy to enhance its content library in the face of increasing competition from streaming rivals like Walt Disney Co in the domestic market. The recently signed deal designates JioCinema’s streaming app as the “exclusive” India platform partner for over 1,000 episodes and approximately 20 movies from the popular Japanese anime series Pokemon. Financial details of the agreement were not disclosed. To broaden the appeal of the content, the shows and movies will be dubbed into three Indian languages. Pokemon, a global multimedia franchise with a substantial market presence in trading cards, games, TV shows, and movies, is partnering with Viacom18, the entertainment joint-venture of Indian billionaire Mukesh Ambani that operates JioCinema. Despite requests for comments, Viacom18 and The Pokemon Company, owned by Nintendo and its affiliates, did not respond. This collaboration is part of Ambani’s broader effort to expand Reliance’s presence in the Indian streaming market, which is projected to reach a value of $7 billion by 2027 according to research firm Media Partners Asia. While JioCinema competes with streaming giants like Netflix and Amazon, its recent focus has been on challenging Disney’s Hotstar app, particularly by offering free streaming of cricket matches. As part of this content expansion, JioCinema is set to introduce approximately 3,000 hours of children’s content, including productions from Entertainment One, Animaccord, Cartoon Network Studios, and DreamWorks. These additions will be facilitated through Viacom18’s existing content agreements or integration with its other streaming platform, Voot Kids, which has been discontinued. Notably, although some Pokemon content was previously available on Voot, the new partnership with JioCinema represents a more extensive collaboration. In May, JioCinema announced a multi-year partnership with NBCUniversal, which confirmed that “kids and family programming,” including content from DreamWorks, was part of the agreement. Entertainment One, Animaccord, and Cartoon Network Studios did not respond to requests for comments. Additionally, in April, Viacom18 secured a deal with Warner Bros Discovery Inc. to bring more Hollywood and international content, such as popular series “Succession” and “Game of Thrones,” to JioCinema.

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I&B Ministry Proposes Comprehensive Broadcasting Bill to Modernize Regulatory Framework

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The Information & Broadcasting Ministry is proposing a new Broadcasting Services (Regulation) Bill to regulate broadcasting services, including DTH, OTT, and digital news platforms. The draft Bill, released for public consultation, aims to replace the outdated Cable TV Networks (Regulations) Act 1995 and other governing policies. The proposed legislation includes content evaluation committees, a more participative Broadcast Advisory Council for self-regulation, differentiated codes for programs and advertisements, and statutory penalties. Information & Broadcasting Minister Anurag Thakur described the draft as a “pivotal legislation” to modernize the regulatory framework for the dynamic world of broadcasting, adapting to emerging technologies. The bill introduces contemporary definitions and extends regulatory purview to cover OTT content and digital news. It mandates self-regulation through Content Evaluation Committees and proposes a Broadcast Advisory Council with independent experts. The draft allows differentiated codes for various services, requiring self-classification of content and access control for restricted content. Statutory penalties, including advisory, warning, censure, or monetary penalties, are proposed, with provisions for imprisonment and fines for serious offenses. The bill also suggests fairness by linking monetary penalties to the entity’s investment and turnover. It includes provisions for infrastructure sharing among broadcasting network operators and carriage of platform services. Overall, the proposed unified law is seen as a positive step for business ease and appropriate regulation.

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Disney+ Hotstar to Offer Free Streaming of Pro Kabaddi League on Mobiles

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Disney+ Hotstar, a prominent broadcasting platform, has unveiled plans to offer free streaming of the upcoming season of the Pro Kabaddi League to mobile users in India, beginning on December 2, 2023. This decision is driven by the sport’s popularity, ranking second only to cricket in India. Sajith Sivanandan, the Head of Disney+ Hotstar India, expressed the goal of making Kabaddi accessible to a broader Indian audience, fostering stronger fan engagement. This move follows the success of their free mobile streaming during events like the Asia Cup 2023 and ICC Men’s Cricket World Cup 2023. The Pro Kabaddi League’s tenth season will feature 12 competing teams in a 12-city caravan format, aiming to replicate the success of cricket tournaments that drew record viewership. Hotstar achieved a peak concurrency of 44 million viewers during the India-South Africa match, and expects similar success as the Pro Kabaddi League approaches its conclusion.

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