GECs
MTV US launches interactive entertainment division
MUMBAI: MTV in the US has launched a new division MTV Games.
Dedicated to developing, producing and promoting unique and creative gaming experiences that resonate with MTVs audience, MTV Games will work in-house through its newly created interactive entertainment studio, along with industry partners, to produce and market original video game titles.
MTV Games will incubate original game franchises in partnership with independent game developers. In addition, the new division will forge strategic marketing partnerships with game publishers to connect with the MTV audience across multiple platforms. MTV will work closely with publishers, leveraging its unique brand and marketing capabilities to maximise the success of each MTV Games release.
MTV Networks Music/Logo/Films Group president Van Toffler said, In 1996 we launched MTV Films with the hopes of discovering some risky and bold stories to tell. Nine years later, I am ecstatic about what we have accomplished, and we have launched MTV Games with a similar objective. We are looking to incubate breakthrough gaming concepts that embrace creative risk-taking, and push the boundaries of interactive entertainment.
MTV, Logo Enterprise Group executive VP Keff Yapp said, Technology, creativity and entertainment have continually adapted, expanded and melded together to create successful new industries. MTV Games is an exciting new division with enormous possibilities within an ever-evolving industry. We are forging into new territory and are enthusiastic about this unique and exciting new way of working with game publishers and independent game developers.
MTV Games has unveiled a strategic relationship with Midway Games an interactive entertainment publisher and developer. The two, parties will market, jointly sell in-game advertising, and collaborate on soundtrack development for three upcoming games. Under the deal, MTV and Midway will partner in a mutually beneficial royalty sharing structure.
The first release from this partnership will be L.A. Rush. This is a high-octane, arcade racing game that allows users to fully embrace the car-tuning culture with creative design assistance from West Coast Customs, the automotive customization authority featured in the hit MTV series Pimp My Ride.
MTV Games will also be a dedicated gaming laboratory and interactive studio for the creation, incubation, and development of new original game titles culturally relevant to MTVs audience. In addition, MTV will tap MTV Games as a new creative hub, extending game concepts into larger entertainment franchises that have the potential to transition into television, film and more.
In addition through strategic marketing partnerships, MTV Games will market a diverse slate of releases to core gamers and casual gamers alike, with unparalleled audience reach via broadcast platforms including MTV, MTV2, mtvU and others, online portals, wireless applications, outdoor platforms, MTV Films, and much more. MTV Games will also partner with publishers to sell in-game advertising, collaborate on game soundtrack development, and develop complementary television programming. In the coming months, MTV Games will announce additional publisher partnerships.
GECs
Sebi sends show-cause notice to Zee over fund diversion, company responds
Regulator questions 2018 letter of comfort and governance lapses; company vows robust legal response
MUMBAI: India’s markets watchdog has reignited its long-running scrutiny of Zee Entertainment Enterprises, issuing a sweeping show-cause notice that drags the broadcaster and 84 others into a widening governance storm.
The notice, dated February 12, has been served by the Securities and Exchange Board of India to Zee, chairman emeritus Subhash Chandra and managing director and chief executive Punit Goenka, among others. At its heart: allegations that company funds were indirectly routed to settle liabilities of entities linked to the Essel Group.
The regulator’s probe traces its roots to November 2019, when two independent directors resigned from Zee’s board, flagging concerns over the alleged appropriation of fixed deposits by Yes Bank. The deposits were reportedly adjusted against loans extended to Essel Group entities, triggering questions about related-party dealings and board oversight.
A key flashpoint is a letter of comfort dated September 4, 2018, issued by Subhash Chandra in his dual capacity as chairman of Zee and the Essel Group. The document, linked to credit facilities availed by certain group companies from Yes Bank, was allegedly known only to select members of management and not disclosed to the full board—an omission SEBI believes raises red flags over transparency and governance controls.
Zee has pushed back hard. In a statement, the company said it “strongly refutes” the allegations against it and its board members and will file a detailed response. It expressed confidence that SEBI would conduct a fair review and signalled readiness to pursue all legal remedies to protect shareholder interests.
The notice marks the latest twist in a saga that has shadowed the broadcaster since 2019. What began as boardroom unease has morphed into a full-blown regulatory confrontation. The final reckoning now rests with SEBI—but the reputational stakes for Zee, and the message for India Inc on governance discipline, could scarcely be higher.
