GECs
Zee merger update: IDBI Bank settlement is the only roadblock
Mumbai: Zee has settled its claims with Standard Chartered Bank – this case not in NCLT, however it could have been a roadblock for the merger with Sony. Merger hearing was held at NCLT today and has been moved to 13 April for the next hearing
Indus Ind Bank and IPRS which were in NCLT and could have been a roadblock for the merger approval have been settled over the last few weeks, and now Standard Chartered Bank too. IDBI bank is the only one pending now at NCLT, which has to be settled or contested to get the merger approval with Sony; the amount pending with IDBI Bank as per latters claim is Rs 150cr. Settlement on above cases is a good news for expedition in the merger process and have a positive impact on stock valuations
Zee has moved up 25 per cent over the last one month and is still trading at inexpensive valuations of 9x (Ex OTT losses) – 13x (including OTT losses), factoring the merger going ahead and cost synergies playing out (in the range of Rs five – six bn)
We have assigned a target PER multiple of 17x for the core broadcasting business and after factoring Zee’s 47 per cent stake, business synergies and cash infusion (Rs 110bn) – we have a BUY rating on the stock with a TP of Rs 390 ; could see some downside (10-12 per cent on earnings) basis earnings downgrade due to the recent ad environment which has been muted due to new age cos cutting ad spends and other verticals reducing ad spends due to inflationary pressures,” said Elara Capital senior VP research analyst (media, consumer discretionary & internet) Karan Taurani
GECs
Samsung TV Plus launches Kings of Comedy channel
New free FAST channel brings iconic Hindi comedy shows to millions of Samsung Smart TV owners.
MUMBAI: Samsung TV Plus has just turned up the laughter volume and it’s completely free. The leading free ad-supported streaming television (FAST) service in India has launched Kings of Comedy, a premium comedy channel featuring some of the country’s most beloved primetime shows. Available exclusively on Samsung TV Plus, the channel delivers back-to-back hits including Comedy Nights with Kapil, Khatra Khatra Khatra, and Comedy Nights Bachao, with no login or subscription required.
The launch marks a milestone for free streaming in India, offering audiences a dedicated comedy destination directly from their Samsung TV home screen. It arrives as Samsung TV Plus India celebrates its 5th anniversary, during which the service has grown its monthly active users by 42 per cent and more than doubled its total viewing hours. The platform now offers over 180 free channels across 14 languages.
Samsung TV Plus India general manager and head of business development Kunal Mehta said, “Comedy is the heartbeat of Hindi entertainment, and Kings of Comedy brings together the shows Indians already love, completely free on their Samsung TV. Our focus remains the same take the content people know and make it effortless to access.”
Globally, Samsung TV Plus has surpassed 100 million monthly active users across more than 4,500 channels, solidifying its position as one of the world’s leading free streaming services.
Kings of Comedy is now available on all compatible Samsung Smart TVs. For viewers seeking non-stop laughter without any cost, this new channel delivers a royal treat proving that sometimes the best entertainment really does come with no strings (or subscriptions) attached.
