News Broadcasting
Acquisition of MGM by Sony completed
MUMBAI: MGM has announced that a consortium comprising Sony America, Providence Equity Partners, Texas Pacific Group, Comcast and DLJ Merchant Banking Partners has completed its acquisition of the company.
This transaction establishes MGM as one of the world’s largest privately-held, independent motion picture, TV and home video companies, says a company release.
Last year, Sony scored with its $5 billion-bid for acquiring MGM. MGM and the consortium had announced in September 2004 that they had an agreement related to this acquisition. The agreement was adopted by MGM shareholders in December 2004. According to the agreement, stockholders of MGM will receive $12 in cash, without interest, for each MGM share held.
MGM president Dan Taylor said, “Today we begin an exciting chapter in the life of MGM. With our strong financial and strategic partners, we look forward to building on MGM’s legacy and capitalising on emerging technologies and markets to provide consumers more opportunities to enjoy the world’s largest modern library of films and TV programming.”
MGM has also announced several key senior management appointments. Charles Cohen will serve as executive VP. Cohen had been executive VP of finance and corporate development at MGM since May 1997. Jim Packer will be executive VP television distribution. Packer had been executive VP, television distribution – North America since 2001.
MGM expects to benefit from operating agreements with Sony Pictures Entertainment (SPE). SPE will assume certain distribution responsibilities for MGM’s library of 4,000 films and 10,400 TV episodes through SPE’s global distribution network, which currently distributes SPE’s library of 3,500 films and 35,000 TV episodes.
MGM also expects to co-finance new films with SPE and co-produce some of these new projects. These films will be distributed and marketed by SPE. MGM will also develop new original TV programmes and is currently completing production on the ninth season of Stargate SG-1 and the second season of Stargate Atlantis, which will both premiere this summer. Sony Pictures Television will assume production management for certain MGM TV content.
In addition to the operating agreements with SPE, MGM also expects to benefit from distribution agreements with Comcast in the US. MGM content will be available on Comcast’s video on demand platform and on new cable channels operated by Comcast and jointly owned by Comcast, SPE and the members of the consortium.
As far as theatrical releases are concerned The Amityville Horror releases on 15 April. Into the Blue, Romance and Cigarettes, The Woods, The Pink Panther and Art School Confidential will come out later this year.
News Broadcasting
Rising Bharat Summit 2026 spotlights India’s global ascent
PM Modi keynotes two-day event with ministers, diplomats and icons in New Delhi.
MUMBAI: India didn’t just host a summit, it threw a coming-out party for a nation ready to own the global stage. The News18 Rising Bharat Summit 2026, held on 27–28 February in New Delhi, emerged as a high-octane platform for ideas, vision and strategic dialogue, uniting national leadership, global policymakers, industry titans, defence strategists and cultural icons under the theme “Strength Within”.
Prime minister Narendra Modi set the tone with a keynote that framed India’s resurgence as a reclaiming of lost potential built over generations. “In previous industrial revolutions, India and the Global South were merely followers,” he said. “But in the era of Artificial Intelligence, India is a partner in decisions and shaping them.” He highlighted the country’s thriving AI startup ecosystem and the recent AI Impact Summit attended by over 100 nations.
Union minister Piyush Goyal (Commerce & Industry) stressed India’s readiness to scale exports and deepen manufacturing, while Ashwini Vaishnaw (Railways, I&B, Electronics & IT) positioned technology and infrastructure as twin engines of growth, especially in AI and digital trust. Jyotiraditya Scindia (Communications & North East Development) revealed India’s ambition to lead in 6G through the Bharat 6G Alliance and partnerships with over 30 countries.
Global voices added depth: former Singapore Foreign Minister George Yeo called India’s development “self-sustaining” and strategically vital; ex-UK Chief of Defence Staff General Sir Nick Carter asserted India deserves a seat at the great powers’ table; and former US Commerce Secretary Carlos M. Gutierrez joined ambassadors from Norway, Germany and Sweden in discussions on geopolitical realignment, sustainability and defence preparedness.
Other speakers included veteran investor Ramesh Damani, World Gold Council CEO David Tait, Vianai Systems founder Dr Vishal Sikka, DeepTech Bharat Foundation co-founder Shashi Shekhar Vempati, defence experts Rajesh Kumar Singh, Sunil Ambekar, Patrick McGee, Tom Cooper and Adrian Fontanellaz, plus cultural and sporting icons Kangana Ranaut, Saina Nehwal, PR Sreejesh, Mohammed Shami, Yuzvendra Chahal, Mithali Raj, Anil Kapoor and Yami Gautam.
The summit was supported by Jio Financial Services (Presenting Partner), Phonepe and DS Group (Co-Presenting Partners), Pernod Ricard India and Kia Seltos (Powered By & Driven By), state governments of Uttar Pradesh, Chhattisgarh and Uttarakhand (State Partners), and associate partners including NSE, M3M Foundation and Reliance Industries.
Broadcast live across News18 Network, CNBC-TV18 and CNBC Awaaz, the event reinforced India’s image as a confident democracy and emerging global power proving that when strength comes from within, the world can’t help but watch.
