GECs
Essel Group to sell 16.5% stake in ZEEL to repay loan obligations
MUMBAI: Debt-ridden Essel Group is planning to sell a 16.5 per cent stake in its flagship property Zee Entertainment Enterprises Ltd (ZEEL) to financial investors to clear off its massive debt. After this transaction, Essel Group’s overall holdings in ZEEL will be five per cent, as mentioned in a statement to the Bombay Stock Exchange.
“The group seeks to sell up to 16.5 per cent stake in ZEEL to financial investors, in order to repay loan obligations to certain lenders of the group for whose benefit such shares are currently encumbered (and who have consented to such share sale by the Group). Out of the aforesaid the group seeks to sell 2.3 per cent stake in ZEEL to OFI Global China Fund, LLC and or its affiliates,” the company stated in a statement.
“This development reaffirms the group's positive progress on its overall asset divestment approach, undertaken to generate adequate liquidity for the repayment process. The group is alsoworking actively on further divestments including its medial non-media assets and remains confident to complete the same,” it added.
Earlier in August, ZEEL reached an agreement with US-based Invesco-Oppenheimer Developing Markets Fund for 11 per cent (around Rs 400 per share) of the promoter stake for Rs 4,224 crore. At that time, ZEEL MD and CEO Punit Goenka did not rule out selling more stake in the company.
In November last year, Subhas Chandra-led Zeel had revealed the decision of its promoters to sell up to 50 per cent of their equity in the company to a strategic partner.
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.
