GECs
Zee non-committal to BSE on RBNL acquisition report
MUMBAI: During a period when big-time mergers and acquisitions are popping out of the cupboard while others are being fine-tuned, Zee Entertainment Enterprises Ltd (ZEEL) is not willing to confirm or deny that it’s buying Reliance Broadcast’s businesses. At least, for now.
In response to a news report appearing in a business daily on 13 October, ZEEL gave a non-committal response to Bombay Stock Exchange (BSE) yesterday. The company statement said, “We, Zee Entertainment Enterprises Limited, wish to clarify that the said report/article is only a media speculation. As a company, we keep exploring options from time to time and will inform the Exchanges, media and shareholders, if, and as and when, any such decision(s) are reached.”
The clarification given to BSE is purely non-committal corporate-speak as Zee neither denied the news report, nor confirmed it.
However, the business daily report on 13 October, 2016 emphasised that “it was done deal” and went ahead to even state that the deal was worth around Rs 18,720 million for the radio and television business owned by Reliance.
The ZEEL share, which closed on the BSE at Rs. 546.55 on Oct 13, opened the next day at Rs.550.75 to close lower at R. 528.50 on 14 October, 2016.
Speculation about the Subhash Chandra-led ZEEL buying Anil Ambani-owned Reliance Broadcast Networks Ltd (RBNL) has been making rounds of financial markets and journalistic circles for some time now. Media reports had earlier stated that the ZEEL-RBNL deal has been a case of on-now-off-tomorrow.
Indiantelevision.com, while reporting on the issue on 5 October, 2016, had sought clarification from ZEEL spokesperson who had then stated, “From time to time, we keep exploring strategic opportunities for entering new businesses or in our existing businesses. However, as a matter of policy, we do not comment on media speculation.”
The corporate response to media queries from Zee has been similar even when deals — TEN Sports sale to Sony Pictures Network India, for example — were confirmed later and formally announced. When speculation about Siti Cable buying DEN Networks gathered steam, a similar line was thrown. Ditto was the response with Dish TV’s ongoing discussions to acquire Videocon d2h from the debt-laden-and struggling Videocon group.
Acquiring RBNL businesses, which include Bhojpuri language channel BIG Ganga, a comedy-centric BIG Magic and a successful FM radio business, can certainly add to Zee’s portfolio of entertainment verticals.
Overall, the media industry may be ripe for consolidation; especially at a time when the regulator too is trying to bring about more order and transparency in the Indian broadcast sector via its draft guidelines.
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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.
