GECs
BlackRock stake in Zeel crosses 5% mark
MUMBAI: Despite the debt crisis of the promoter group of Zee Entertainment Enterprises Ltd (Zeel), foreign fund investors aren’t shying away from betting their money. New York-based BlackRock has increased its stake in the Indian media conglomerate. Before 21 November, BlackRock held 4.77 per cent stake which has now crossed 5 per cent.
Before the acquisition, BlackRock had 45,837,578 shares carrying voting rights in the company. Now, it has increased by 0.24 per cent in an on-market transaction reaching 48,191,811 shares. Post the acquisition, the total diluted share of BlackRock in Zeel stands at 960,483,235, as per a listing in the Bombay Stock Exchange (BSE).
On the morning of 20 November, Essel Group announced its plan to sell 16.5 per cent stake in its flagship property Zeel to financial investors to clear off its massive debt. Their offer putting on sale 16.5 per cent of the Essel group’s pledged holding in Zeel was quickly mopped up by existing and long-term investors in Zeel at a price of Rs 304 per share the very next morning.
In another development, media maven Subhash Chandra has resigned as chairman of Zeel with immediate effect. While the board has been reconstituted, three new independent directors have been appointed in lieu of two independent and one nominee director of Essel Group, namely Niharika Vora, Sunil Sharma and Subodh Kumar, respectively.
The company said in a statement that reconstitution of the board was to strengthen and induct independent members with varied experiences to build value and provide a strong signal to the existing and new institutional investors who have recently reposed their faith in the intrinsic value of the company, by investing Rs 4770 crore.
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.
