GECs
Endemol expands presence with acquisition
MUMBAI: Global television format creator and distributor Endemol will acquire a 51 per cent stake in Germ, an interactive television format firm Callactive.
It has also launched a new participation TV show in the US. The transaction in Germany is subject to the approval of the German anti-trust authorities. Endemol has options to further increase its stake in the future.
Callactive specialises in call TV interactive television formats in Germany and Switzerland. Its customers include Viva Plus (Germany). Callactive is located in Munich and will serve as Endemol’s call TV platform for German speaking countries/areas. Callactive will continue to operate under the same name, headed by its current MD Stephan Mayerbacher.
Meanwhile in the US, Endemol has launched a live participation TV show called Midnight Money Madness. The two-hour show went to air two weeks ago. This is the first time Endemol has brought its interactive television experience to viewers in the US.
Endemol digital media director Job van Wagensveld says, “With the acquisition of 51 per cent of Callactive in Germany and the launch of Midnight Money Madness in the United States we are adding two important new territories to our participation TV activities. We are now operating successfully world wide in over 25 countries with more to come. We are very pleased with these developments and expect to grow our leading position in this business further in the coming years.”
GECs
Sebi sends show-cause notice to Zee over fund diversion, company responds
Regulator questions 2018 letter of comfort and governance lapses; company vows robust legal response
MUMBAI: India’s markets watchdog has reignited its long-running scrutiny of Zee Entertainment Enterprises, issuing a sweeping show-cause notice that drags the broadcaster and 84 others into a widening governance storm.
The notice, dated February 12, has been served by the Securities and Exchange Board of India to Zee, chairman emeritus Subhash Chandra and managing director and chief executive Punit Goenka, among others. At its heart: allegations that company funds were indirectly routed to settle liabilities of entities linked to the Essel Group.
The regulator’s probe traces its roots to November 2019, when two independent directors resigned from Zee’s board, flagging concerns over the alleged appropriation of fixed deposits by Yes Bank. The deposits were reportedly adjusted against loans extended to Essel Group entities, triggering questions about related-party dealings and board oversight.
A key flashpoint is a letter of comfort dated September 4, 2018, issued by Subhash Chandra in his dual capacity as chairman of Zee and the Essel Group. The document, linked to credit facilities availed by certain group companies from Yes Bank, was allegedly known only to select members of management and not disclosed to the full board—an omission SEBI believes raises red flags over transparency and governance controls.
Zee has pushed back hard. In a statement, the company said it “strongly refutes” the allegations against it and its board members and will file a detailed response. It expressed confidence that SEBI would conduct a fair review and signalled readiness to pursue all legal remedies to protect shareholder interests.
The notice marks the latest twist in a saga that has shadowed the broadcaster since 2019. What began as boardroom unease has morphed into a full-blown regulatory confrontation. The final reckoning now rests with SEBI—but the reputational stakes for Zee, and the message for India Inc on governance discipline, could scarcely be higher.
