GECs
Zee share price rises 20% after Invesco gives up corporate action
Mumbai: Zee Entertainment Enterprises Ltd (Zeel) witnessed the share price gain by 20 per cent on Thursday, after its largest shareholder Invesco Developing Markets Fund decided not to pursue corporate action against the company.
The tussle between the company and its shareholder came to a climax on Tuesday after the Bombay high court upheld Invesco’s requisition for an extraordinary general meeting of Zee’s board as legally valid. Soon after, Invesco declared that it would cease to pursue the EGM and that the HC ruling was an important reaffirmation of “shareholder rights.”
Zeel’s management and Invesco have been engaged in a legal battle for control of the company’s board since October 2021. However, Invesco has reversed gears amidst the ongoing Zeel-Sony merger transaction that is taking place. When completed, this will be the biggest M&E acquisition in the country.
Zeel and Sony Pictures Networks India had signed definitive agreements to merge in December. Once the merger is completed, Sony Pictures Entertainment, the parent of SPN India, will indirectly hold a majority 50.86 per cent of the combined entity and the promoters of Zeel will hold 3.99 per cent. Other shareholders will hold a 45.15 per cent stake. Zeel MD and CEO Punit Goenka will take on the role of MD and CEO of the combined entity for the next five years.
“Since we announced our intention to requisition an EGM and add six independent directors to Zee’s Board of Directors, Zee has entered into a merger agreement with Sony,” said Invesco, commenting on the deal. “We continue to believe this deal in its current form has great potential for Zee shareholders. We also recognise that, following the merger’s consummation, the board of the newly combined company will be substantially reconstituted, which will achieve our objective of strengthening board oversight of the company.”
The Zeel-Invesco dispute began when the media company’s top two investors Invesco Developing Markets Fund and OFI Global China Fund LLC, with a combined stake of ~18 per cent stake in the Zeel, sent a requisition notice to the board on 11 September 2021, calling for an EGM.
The investors sought the removal of long-standing directors and close associates of the promoters from the board following which two independent directors Ashok Kurien and Manish Chokhani submitted their resignations. Invesco also sought the removal of Punit Goenka.
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.
