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ZEE-Sony merger receives approval from stock exchanges

The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) have approved the proposed merger between ZEE and Culver Max Entertainment, formerly Sony Pictures Networks India (SPN). According to a statement from ZEE, approvals mark a “firm and positive step” in the entire merger approval process and give the company permission to go on to the process’ subsequent stages. The National Company Law Tribunal (NCLT) and other regulatory approvals will be requested by the two companies, who had already applied for clearance from the Competition Commission of India (CCI). On December 22 of last year, ZEE and SPN officially agreed to merge their businesses. ZEE and SPN will combine as part of the proposed merger, and after it closes, the combined business will list on Indian stock exchange. According to the provisions of the formal agreements, SPN will have $1.5 billion in cash on hand (assuming an INR to USD conversion rate of 75:1) at closing, primarily due to an investment from the company’s current shareholders and the promoters of ZEE. In accordance with a non-compete agreement, SPE will pay the founder promoters of ZEE Rs 1101.31 crore as a non-compete fee. The promoters will use this money to inject primary equity capital into SPN, giving them the right to purchase an additional 2.11 percent of the combined company’s shares. SPE will hold 50.86% of the combined company after the merger, while ZEE promoters would hold 3.99%. Existing ZEE shareholders will own 45.15 percent of the combined company’s shares. Punit Goenka, MD & CEO of ZEE, will serve as the MD & CEO of the combined business, according to the agreement. There will be nine directors on the board; five of them will be chosen by the Sony Group, and the remaining three will be independent.

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5G Spectrum auction enters day 3; receives bids worth Rs 1.49 lakh cr on day 2

Day 3 of India’s 5G spectrum auctions began on Thursday with the tenth round of bidding for the airwaves required to provide lag-free connectivity and ultra-high-speed internet. After the ninth round of the second day’s largest-ever auction for mobile signal spectrum in the nation, bids for 5G airwaves totaled more than 1.49 lakh crore. Union minister Ashwini Vaishnaw said on Wednesday that bids totalling 1,49,454 crores were received in the ninth round. “I am happy to see good competition in auction, good competition for all bands have come in,” Vaishnaw said, adding, “Bids worth ₹1,49,454 crore have been received so far at the end of 9th round.” According to the telecom minister, the third day of the 5G spectrum auction was extended, and it is continuing on Thursday. He added that demand is evident in all spectrum bands. The second day of the auction, which would enable ultra-high speeds about ten times faster than 4G and usher in new-age offerings and business models, began at 10 am and ended at 6 pm with nine rounds of bidding. After four rounds of spectrum bidding, the government got spectrum bids of 1.45 lakh crore on the first day of auction on Tuesday. On the first day, companies owned by businessmen Mukesh Ambani, Sunil Bharti Mittal, and Gautam Adani, as well as Vodafone Idea, placed bids totalling 1.45 lakh crore. On Wednesday, five rounds were held to receive more offers for airwaves. According to analysts, Ambani’s Reliance Jio may be the most aggressive competitor. The bid specifications have not yet been disclosed. According to ICICI Securities’ estimate, Jio most likely selected 10 MHz of spectrum in the exclusive 700 MHz band, placing the highest bid of 80,100 crore. ICICI Securities noted in its report, “It appears Adani has bought 26GHz spectrum in 20 circles (except in Delhi and Kolkata), and its total spectrum purchase could be 3350MHz for ₹900 crore. Our estimate is provisional as data does not reflect the entire purchase by Adani. We believe, it should have purchased 200 MHz spectrum in all circles except Gujarat, where it would have bought 400MHz.” Bharti Airtel may have submitted a bid for spectrum in the 1800 MHz and 2100 MHz bands for 45,000 crores, which is 20% higher than anticipated. Adani Data Networks should have picked 26 GHz spectrum across India, whereas debt-ridden Vodafone Idea likely bid for 18,400 crores, according to the report. Source: PTI

5G Spectrum auction enters day 3; receives bids worth Rs 1.49 lakh cr on day 2 Read More »

OTT video market in India likely to reach $7 billion by 2027

According to a media report on Monday, the over-the-top (OTT) streaming video market in India is predicted to reach $7 billion by 2027. The OTT streaming video business in India is currently in its second growth phase, with total revenues expected to reach $3 billion in 2022, according to Livemint, quoting a report published by Media Partners Asia (MPA). New, affluent local players are vying for market dominance in India, lead by Viacom18, which has recently raised new capital and is supported by Reliance, Bodhi Tree, and Paramount. The report stated that established firms like Sony and Zee are going to unite to build a powerful online video and television sector. According to MPA data, India had 97 million OTT subscribers by the end of March. With revenues of more than Rs 17,000 crore in 2021, it is one of the OTT markets with the fastest growth. Subscriptions made up almost Rs 5,200 crore of this total. SonyLIV is now a significant player in this sector thanks to its comeback. Globally dominant companies and freshly capitalised indigenous players are anticipated to face increasing competition in the Indian market. However, telcos’ market presence, together with the advertising video-on-demand (AVoD) sector and low-average revenue per user (ARPU), large volume subscription video-on-demand (SVoD) services, continues to be crucial. Online video revenue in Total Asia Pacific will increase by 16% year on year (YoY) in 2022 to reach $49.2 billion, predicts MPA in its report titled Asia Pacific Online Video & Broadband Distribution 2022. UGC (user-generated) AVoD will contribute 37%, premium AVoD will contribute 13%, and SVoD will contribute 50%. China, the largest market in Asia Pacific, will produce $11.2 billion of revenue in 2022, accounting for 48% of the region’s online video revenue. 20 online video platforms will account for 67% of all APAC online video revenues, according to MPA’s analysis.

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68th National Film Awards 2022 winners announced

MEA Article

On July 22, 2022, in New Delhi, the 68th National Film Awards winners were announced. The Directorate of Film Festivals of the Government of India is responsible for overseeing the coveted awards, which were first given out in 1954. The Covid-19 outbreak caused delays, therefore the presentation honoured films from 2020 in a number of categories. A 10-member panel, led by the director Vipul Shah, presented its report on the 68th National Film Awards to Information and Broadcasting Minister Anurag Thakur. “I want to congratulate all the jury members and all those whose work was reviewed and would like to congratulate the recipients who will receive the National Film Awards,” Anurag Thakur remarked when addressing the awards. A word of appreciation for everyone who has done an outstanding job.” “I am glad that this year we will be holding the 68 National Film Awards since we could not hold the awards for two years because of Covid.” Ajay Devgn and Soorarai Pottru were two of the biggest winners. For Tanhaji: The Unsung Warrior, Ajay got his third National Film Award, sharing the category with Suriya for “Best Actor” for his work in Soorarai Pottru. After winning the award, Ajay expressed his gratitude to everyone, particularly his creative team, the audience, and his supporters. I thank the Almighty and my parents for their blessings as well. I wish to congratulate each of the other winners. Tanhaji: The Unsung Warrior also won the popular film award. The actor continued, “As the producer of Tanhaji: The Unsung Warrior, it gives me immense joy to receive an honour at the 68th National Film Awards for the best film that has provided wholesome entertainment.” “Tanhaji was exactly that. It is a good story of friendship, loyalty, family values and sacrifice. It has strong national sentiments, super VFX and a holistic approach in entertainment.” “I must share the honour with my director Om Raut, my co-producers, T-Series and my co-actors.” “Most of all, I thank my creative team who has contributed handsomely to making this a blockbuster and now a National Award winner.” The National Film Awards honours films from across different film industries in India. Other winners included Aparna Balamurali and Biju Menon. Here is a list of all the winners: Best Feature Film: Soorarai Pottru Best Director: Sachy – Ayyappanum Koshiyum Best Popular Film Providing Wholesome Entertainment: Tanhaji: The Unsung Warrior Best Actor: Suriya – Soorarai Pottru, Ajay Devgn – Tanhaji: The Unsung Warrior Best Actress: Aparna Balamurali – Soorarai Pottru Best Supporting Actor: Biju Menon – Ayyappanum Koshiyam Best Supporting Actress: Lakshmi Priya Chandramouli – Sivaranjaniyum Innum Sila Pengallum Best Screenplay: Shalini Usha Nair and Sudha Kongara – Soorarai Pottru Best Screenplay (Dialogue Writer): Madonne Ashwin – Mandela Best Music Direction (Songs): Ala Vaikunthapurramuloo – Thaman S Best Music Direction (Background Music): Soorarai Pottru – GV Prakash Best Male Playback Singer: Rahul Deshpande – Mi Vasantrao Best Female Playback Singer: Nanchamma – Ayyappanum Koshiyam Best Lyrics: Saina Best Audiography (Location Sound Recordist): Jobin Jayan – Dollu Best Audiography (Sound Designer): Anmol Bhave – Mi Vasantrao Best Audiography (Re-recordist of the final mixed track): Vishnu Govind and Sree Sankar – Malik Best Choreography: Sandhya Raju – Natyam Best Cinematography: Supratim Bhol – Avijatrik Best Costume Design: Nachiket Barve and Mahesh Sherla – Tanhaji: The Unsung Warrior Best Production Design: Anees Nadodi – Kappela Best Editing:Sreekar Prasad – Sivaranjiniyum Innum Sila Pengalum Best Makeup: TV Rambabu – Natyam Best Stunt Choreography: Rajasekhar, Mafia Sasi and Supreme Sunder – Ayyappanum Koshiyum Special Mention: Aimee Baruah – Semkhor, Vaanku, June, Kishore Kadam – Avwanchhit & Godakaath, Varun Buddhadev – Toolsidas Junior Best Hindi Film: Toolsidas Junior Best Kannada Film: Dollu Best Malayalam Film: Thinkalazhcha Nishchayam Best Tamil Film: Sivaranjiniyum Innum Sila Pengalum Best Telugu Film: Colour Photo Best Haryani Film: Dada Lakhmi Best Dimasa Film: Samkhor Best Tulu Film: Jeetige Best Marathi Film: Goshta Eka Paithanichi Best Bengali Film: Avijatrik Best Assamese Film: The Bridge Best Child Artist: Anish Mangesh Gosavi – Tak-Tak Best Children’s Film: Sumi Best Film on Environment Conservation/Preservation: Talendanda Best Film on Social Issues: Funeral Indira Gandhi Award for Best Debut Film of a Director: Mandela

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ZEE introduces new tech talent using the metaverse

Over 100 campus graduates from the finest IT institutes throughout India attended ZEE’s first-ever new employee induction on Tuesday, which was held in a metaverse setting. The onboarding took place at the organization’s recently opened Technology and Innovation Center in Bengaluru, which is tasked with developing the metaverse platform by utilising augmented reality (AR), virtual reality (VR), non-fungible tokens (NFTs), and pertinent data models for its digital platforms. Amit Goenka, President – Digital Businesses and Platforms, and Nitin Mittal, President – Technology & Data at ZEE, were in charge of the endeavour. “We are imbibing a sharp strategic focus on enhancing our tech capabilities through a confluence of technology, data and talent. As we break new grounds and redefine entertainment by providing robust experiences across platforms, we are delighted to converge ZEE’s collaborative and entrepreneurial culture in the physical and digital realms through an immersive environment such as the metaverse,” said Goenka. “We aim to provide intuitive experiences across all aspects of an individual’s consumption, creation and transactional journey, and the first-ever metaverse induction program at ZEE, will not only help enhance our employee experience by boosting innovation and productivity, but also our consumer experience by several notches” he added. The center’s cutting-edge technology solutions and state-of-the-art infrastructure were used to perform the metaverse Induction, providing the new hires with an immersive mixed reality experience. The company stated that while it continues to serve the worldwide audience and reimagine the future of entertainment by embracing a technology and innovation led approach, it seeks to expand and improve its digital footprint. According to Animesh Kumar, President – HR and Transformation, ZEE, “As digital transformation continues to accelerate globally, the Technology and Innovation Centre at ZEE will play the lead role in driving the next era of innovation in content consumption.” “ZEEverse, is another major stride in a string of initiatives launched by the company in recent times towards our internal digital transformation that will enable the organisation to become futureready and win in the emerging digitalised economy.”

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Jio places the highest EMD in the 5G auction at Rs 14,000 crore, while Adani places Rs 100 crore

According to information released by the Department of Telecommunications (DoT) on Monday, Reliance Jio Infocomm, Bharti Airtel, Adani Data Networks, and Vodafone Idea (Vi) have each made earnest money deposits (EMDs) of Rs 14,000 crore, Rs 5,500 crore, Rs 100 crore, and Rs 2,200 crore, respectively. The EMDs are a component of the applications that the applicants submitted to the DoT in order to take part in the upcoming 5G spectrum auction, which will begin on July 26. The EMD quantum provides the applicant with eligibility points, based on which it can target a given quantum of airwaves in select or all available bands in specific or all circles, and is therefore a good indicator of a company’s bidding strategy and spectrum purchasing capacity. According to analysts, a telecom can typically target spectrum in the 5G sale that is worth up to eight to nine times their individual EMDs. According to the EMD filings on the DoT website, Jio has accumulated 159830 eligibility points with the highest deposits, while Airtel has accumulated 66330. Adani, a recent entry, has 1650 points compared to Vi’s 29370 points. The earnest money deposit suggests that Jio, the largest telecom company in India based on user volume, may be placing extremely aggressive bids in the upcoming auctions, but Adani Group might be attempting to acquire the barest amount of spectrum necessary to build a private network. Adani Data Networks’ EMD of 100 crore indicates that they have a low and limited requirement for spectrum.

Jio places the highest EMD in the 5G auction at Rs 14,000 crore, while Adani places Rs 100 crore Read More »

‘Captain Vyom’ from Doordarshan will be turned into a web series

Brewing Thoughts Pvt Ltd will remake Captain Vyom, an Indian television series that aired on DD National in 1998 and was created by Ketan Mehta and starred Milind Soman, into a web series. After two difficult years of the pandemic, filmmakers and content producers are trying to appeal to consumers by using feel-good, humorous stories and nostalgia. There are plans to revive comedic classics like Govinda’s 1998 comedy Bade Miyan Chote Miyan and Angoor, a modernised version of Shakespeare’s Comedy of Errors. Sense of nostalgia has always been a terrific emotion to harness, according to experts in the media and entertainment, and feel-good classics will appeal to both older and newer audiences. The superhero television series Shaktimaan, which ran on DD National in the late 1990s, will be recreated by Sony Pictures, and content firm Applause Entertainment will consider animated tales based on Amar Chitra Katha. The increase in vintage movie and song listeners and viewers during the pandemic relates to the love of the quaint and antiquated. Happy stories can always be revived, according to media industry experts, who point out that new streaming platforms in India have started to cater to older audiences, including the 60+ population, in a big way, making these feel-good classics easy to market. Nostalgia related to sad stories may not work, but happy stories can always be revived. There have always been resources and properties that can be used for a long time while simultaneously appealing to fresh audiences and energies. Each new generation considers how it might reinterpret these formats for the time being. You might reflect fondly on a simpler time in the past and find solace in the familiar because it brings back memories.

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Adani Group to bid for telecom spectrum auction

The Adani group intends to compete head-to-head with Sunil Bharti Mittal’s Airtel and Mukesh Ambani’s Reliance Jio in the race to acquire telecom spectrum beginning on July 26. The Adani group recently received National Long Distance (NLD) and International Long-Distance (NLD) licences. “As India prepares to roll out the next generation of 5G services through this auction, we are one of the many applications participating in the open bidding process,” the group said in a statement To take part in the sale of 5G airwaves, the Adani entity would be required to get a unified access service (UAS) permit from the Department of Telecommunications (DoT) in accordance with Indian telecom regulations. Given the large amount of spectrum up for sale and the existence of just two significant bidders in Jio and Bharti Airtel, Adani’s anticipated involvement could increase competitiveness in the upcoming 5G airwaves sale. The sector regulator Telecom Regulatory Authority of India (TRAI) recommended reserve prices for 5G auctions, which the Cabinet approved last month. A floor price reduction of roughly 39% was suggested by the regulator for the sale of 5G spectrum for mobile services.

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Netflix to stream Alia Bhatt-starrer ‘Darlings’ on 5th August

The debut production of actor Alia Bhatt, Darlings, in which she also stars, will launch on the American streaming service Netflix on August 5. Red Chillies Entertainment, a production company owned by Shah Rukh Khan, worked with the actors Shefali Shah, Vijay Varma, and Roshan Matthew to co-produce the movie. Eternal Sunshine Productions, Bhatt’s production company, was launched last year. While movie theatres in India may be fully booked, the box office chances for low- and medium-budget films are dwindling, forcing them to stream services. According to industry insiders, Darlings, Mohanlal’s 12th Man, and Kangana Ranaut’s Tiku Weds Shiru have chosen to release on digital platforms despite the fact that these movies, which star bankable actors, were intended for theatres. Anek, Jayeshbhai Jordaar, and Runway 34, among other recent films that failed to bring viewers to theatres, performed poorly, underscoring the fact that only big-budget entertainers are making the cash registers ring. When a movie like Gehraiyaan, directed by Karan Johar and starring Deepika Padukone, Siddhant Chaturvedi, and Ananya Pandey, debuted on Amazon Prime Video a few months ago, trade experts say it was a sensible decision to not rely heavily on the theatre figures. Despite having bankable stars, the few medium-budget Hindi films, especially those lacking a lot of action or grandeur, that did brave a theatrical release have had disappointing returns in recent weeks. A few notable examples include Jersey by Shahid Kapoor (19.68 crore), Runway 34 by Ajay Devgn (32.96 crore), Heropanti 2 by Tiger Shroff (24.45 crore), Jayeshbhai Jordaar by Ranveer Singh (15.59 crore), and Anek by Ayushmann Khurrana (8 crore). Trade analysts claim that Kangana Ranaut’s Dhaakad’s poor box office performance, which saw it finish with less than Rs. 3 crore, is making post-theatrical OTT deals challenging because streaming players have shown no interest in the movie.

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Editors Guild of India condemns the arrest of AltNews Co-founder Mohammad Zubair

The arrest of Mohammad Zubair, a co-founder of AltNews, on suspicion of injuring religious emotions, was described as “very distressing” by the Editors Guild of India on Tuesday, and they requested his immediate release. The Guild said in a statement that “It is apparent that AltNews’ alert vigilance was resented by those who use disinformation as a tool to polarise society and rake nationalist sentiments.” The co-founder of the fact-checking website was detained by the Special Cell of the Delhi Police on Monday on suspicion of encouraging animosity amongst various groups based on religion and engaging in intentional acts to incite religious sentiment in violation of the Indian Penal Code. “Zubair has been arrested under sections 153 and 295 of the Indian Penal Code. This is extremely disturbing because Zubair and his website AltNews have done some exemplary work over the past few years in identifying fake news and countering disinformation campaigns, in a very objective and factual manner,” the Guild said. It demanded Zubair’s immediate release from custody by the Delhi Police. The Guild released a statement that said, “This is necessary to buttress the commitments made by Prime Minister Narendra Modi in the G7 meet in Germany to ensure a resilient democracy by protecting online and offline content.” Zubair’s detention had already been denounced by a group of digital news media outlets, who demanded that the Delhi Police withdraw their charges against him right away. It is unacceptable that such strict laws are used as weapons against journalists, who have been given the responsibility of acting as watchdogs against the misuse of state institutions, in a democracy where everyone has the right to exercise their freedom of speech and expression, according to a DIGIPUB statement. Source: PTI  

Editors Guild of India condemns the arrest of AltNews Co-founder Mohammad Zubair Read More »