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Balaji Telefilms makes two senior management changes
MUMBAI: There were further changes at Balaji Telefilms over the weekend. The company redesignated long running group CFO and COO Sanjay Dwivedi as group CEO. He continues to hold the CFO portfolio as well. Then, Balaji Motion Pictures EVP distribution & syndication Vimal Doshi was promoted as the COO – motion pictures.
With 30 years of experience covering media, entertainment and FMCG, Sanjay joined the group in 2013 as the CFO of Balaji Telefilms, functioning as a member of the core management team.. He works closely with managing director, joint managing director and the board. During his journey with the group, he has led the fund-raising activities; obtained sanction from private banks for business initiatives; saved substantial amount in tax benefits through several initiatives, including clearing of old tax claims; and manages treasury corpus, in addition to other tasks as assigned from time-to-time.
Prior to joining Balaji, he held senior management positions at Nimbus Communications and Entertainment Network India Limited (Radio Mirchi, part of the Times Group). He earlier worked with GlaxoSmithKline Pharmaceuticals (India) and Tata Steel in the finance functions.
In his current role, Sanjay will be responsible for the group’s overall growth and success, will lead the company’s operational strategies, and will continue to head the finance function.
As COO – motion pictures, Vimal will be entrusted with the entire operations of the movie division for existing films, new film project development, marketing operations, distribution and syndication. As in his previous role, he will continue to head revenue for distribution and syndication of films.
Vimal has a total work experience in the film industry of about 26 years.. He joined Balaji in 2007 as assistant manager for theatrical distribution and has distributed several films since. In 2015, he started heading all sales for films. He has done slate deals with major OTTs, music labels and buyers like Netflix, Tips, SaReGaMa and has scripted and maintained strategic partnership with media behemoth, Zee. In the past three years, Vimal has also looked into various co-Productions and actively manages relationship with co-producers and talents.
Says Balaji Telefilms managing director Shobha Kapoor:“I am delighted that Sanjay has been promoted as the CEO. His exceptional leadership track record, deep strategic expertise, profound experience in the M&E sector and overall understanding of our business makes him an excellent fit for leading the group as the CEO and setting higher standards. We are also excited to elevate Vimal as the COO – motion pictures to lead our films division. With exciting movies in pipeline, his extensive experience and visionary approach will foster our growth in the entertainment industry. Sanjay and Vimal have been with Balaji Group for over decades and under their leadership and guidance, I am confident that Balaji will achieve new milestones and add value for all our stakeholders.”
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Paramount taps Pentwater Capital’s Halbower in push to reshape Warner Bros board
Skydance-backed bid eyes board shake-up to derail Netflix deal and win shareholder support
CALIFORNIA: The battle for control of Warner Bros. Discovery has moved beyond takeover talks and into the boardroom, as Paramount Global and Skydance Media reportedly prepare for a proxy fight. At the center of the push is Pentwater Capital founder Matthew Halbower, whose potential nomination to the board could reshape the outcome of the high-stakes standoff.
Paramount is seeking to block Warner Bros. Discovery’s proposed tie-up with Netflix, arguing that its own $108.4 billion all-cash offer represents a stronger alternative for shareholders. By backing a new slate of directors, the Skydance-backed bidder aims to install leadership more receptive to its proposal — and willing to abandon the Netflix agreement.
As the seventh-largest investor in Warner Bros. Discovery, Halbower wields considerable influence. The Pentwater Capital chief has already voiced sharp criticism of the board, accusing it earlier this year of a “breach of fiduciary duty” for rejecting Paramount’s offer without what he described as adequate engagement.
According to Reuters, Halbower has held discussions with Paramount about a potential board role, though no final decision has been confirmed. He reportedly characterized his candidacy as a last resort, suggesting that if the current board meaningfully negotiates with Paramount, his presence would not be required.
In a bid to strengthen its appeal to shareholders, Paramount Global has enhanced its takeover proposal with added financial safeguards. The revised offer includes a delay-protection clause that would grant shareholders an additional $650 million in cash for every quarter the transaction remains incomplete beyond this year. Paramount has also pledged to absorb the $2.8 billion breakup fee that Warner Bros. Discovery would owe Netflix if it terminates its existing agreement, removing a significant financial obstacle to the deal.
Paramount is not alone in challenging the status quo. Hedge fund Ancora Holdings has also accumulated a stake in Warner Bros. Discovery and publicly opposed the Netflix deal.
With reports suggesting Paramount could nominate enough directors to overturn a majority of the company’s 14-member board, Warner Bros. Discovery’s leadership now faces mounting pressure from influential shareholders. The outcome of this proxy battle will determine whether the media giant proceeds with its streaming partnership or pivots toward a massive cash acquisition.
