GECs
Pentamedia to get 49.9% Film Roman stock for $10 m in reworked deal
After a series of modifications, Indian multimedia production firm Pentamedia Graphics Ltd and US-based animation producer Film Roman Inc. have reached agreement on a deal that gives Pentamedia a 49.9 per cent stake in Film Roman valued at $10,000,000.
Under the new terms, Pentamedia will be issued one new share of Film Roman’s common stock for each $1.17 in value it receives from Pentamedia. Upon completion of the transaction, Pentamedia will own up to 49.946% of Film Roman’s common stock, with an overall valuation of up to $10,000,000. The specifics of the restructured transaction are being finalised by the two companies and any necessary approvals will be sought in the near future, the release states.
In a joint statement, V Chandrasekaran, CEO of Pentamedia and John Hyde, CEO of Film Roman said: “We have restructured the agreement between us and look forward to finalising the transaction so that we can start building on the strengths of our respective companies.”
Early last month the whole deal seemed threatened with Film Roman filing a complaint with the US Securities & Exchange Commission claiming Pentamedia was unable to close the transaction on terms earlier agreed by both the firms and approved by Film Roman’s shareholders.
As per the earlier agreement, Pentamedia was to acquire a fully diluted 60 per cent stake of Film Roman in the form of newly issued common stock for $15 million in cash.
It was in October last year that Pentamedia last year announced a deal with Film Roman which it said would help it get better access to the US markets.
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.
