GECs
Canada’s Nortel Networks forms JV with LG Electronics
MUMBAI: Canadian telecom giant Nortel Networks and South Korea’s LG Electronics have established a joint venture for the development of telecom equipment and networking solutions.
The agreement was signed in Seoul, South Korea by LG Electronics CEO S.S. Kim and Nortel vice chairman and CEO Bill Owens. The joint venture will be tentatively named LG-Nortel Co. Ltd. This entity will combine the telecommunication infrastructure business of LG Electronics and the distribution and service business of Nortel in South Korea.
The LG-Nortel joint venture will support the strategies of both companies for ongoing development of leading-edge wireline, optical, wireless and enterprise communications and networking solutions to ignite and power global commerce. It will also reflect the companies’ commitment to leveraging best-in-class resources and expertise by joining forces with leading players in key markets, while harnessing the technology leadership of South Korea, states an official release.
Nortel will own 50 percent plus one share in the joint venture, in exchange for which Nortel will contribute its South Korean distribution and services business and pay $145 million and other non-monetary consideration. Separately, LG Electronics may be entitled to payments over a two-year period based on achievement by the joint venture of certain business goals.
LG Electronics and Nortel will nominate certain key executives to the management team of the joint venture. It is the intention of the parties to nominate JR Lee from LG Electronics to be chief executive officer and Paul House from Nortel to be chief operating officer. The LG Electronics Infrastructure business and Nortel’s South Korean operations had aggregate revenues of KRW 600 billion ($530 million) in 2004, the release adds.
Closing of the transaction is subject to satisfaction of certain conditions, including regulatory and other approvals, and is anticipated by year end. J. P. Morgan advised Nortel and Lehman Brothers and Woori Securities advised LG Electronics in this transaction.
GECs
Asianet Television Awards 2026 celebrates women power in Malayalam TV
“She is the Colour” theme honours icons as ceremony airs on March 14 and 15 at 7 PM.
MUMBAI: If television lights up living rooms, this year Asianet decided to let women provide the colour. The Asianet Television Awards 2026 turned the spotlight firmly on women empowerment with the theme “She is the Colour”, celebrating the strength, resilience and achievements of women who continue to shape society and the Malayalam entertainment industry.
The ceremony honoured several distinguished personalities whose journeys have left a lasting cultural imprint. Among them was legendary playback singer Vimala Varma, widely recognised as the first Malayalam playback singer. The evening also paid tribute to Padma Shri awardees Devaki Amma and Vimala Menon for their exceptional contributions in their respective fields.
Leading women from the Malayalam film industry were also recognised during the event, including actor Shweta Menon, who currently serves as president of the Association of Malayalam Movie Artists, and National Award winning actor Surabhi Lakshmi.
The awards ceremony brought together a glittering lineup of actors and industry figures, including Jayasurya, Vijay Babu, Asha Sarath, Lena, Esther Anil, Anumol, Akhila Bhargavan, Sarayu Mohan, Prajod Kalabhavan, Gayathri Suresh, Sabumon Abdusamad, Swasika, Tini Tom, Sijoy Varghese, Kailash, Veena Nandakumar, Sabareesh Varma, Ansiba Hassan and Dinesh Prabhakar. Kishan Kumar, executive vice president Malayalam at JioStar, was also present at the event.
Beyond individual recognitions, the awards celebrated excellence across Malayalam television, acknowledging artists and technicians whose work continues to drive the industry forward.
The evening also offered plenty of spectacle, with elaborate dance performances, stunt acts and comedy skits performed by popular television and film personalities, turning the ceremony into a full fledged entertainment showcase.
Viewers will get to watch the celebrations when the Asianet Television Awards 2026 air on Asianet on March 14 and 15, Saturday and Sunday, from 7 pm onwards, bringing the star studded tribute to homes across Kerala and beyond.
