GECs
Zee wins Lanka series satellite rights for Rs 195 million
MUMBAI / NEW DELHI: The change of guard at the top of the Board of Cricket Control in Indian (BCCI) has had its immediate fallout. Subhash Chandra’s Zee Telefilms has bagged the satellite rights for the upcoming three-Test series with Sri Lanka, which kicks off in Chennai tomorrow.
According to sources close to the developments, Zee paid Rs 195 million for the telecast rights. Expectedly, the terrestrial telecast will be with Prasar Bharati.
The signing of the deal between the BCCI and Zee follows a directive from the Delhi High Court today instructing the cricket board to invite bids for awarding the telecast rights and take a decision by today itself.
Zee’s bid was the highest ahead of both Nimbus (Rs 194 million) and ESPN (Rs 188 million). A point of note is that Nimbus’ bid was in any case rejected on grounds of non-conformity.
Zee Sports business head Himanshu Mody said, We are delighted to acquire the cable and satellite rights for the three Test match series between India and Sri Lanka. In an open and transparent meeting with the BCCI, in which all bidders were present, we managed to secure the rights for the series. Acquiring the rights is an assertion of our commitment to provide exciting cricket to viewers in India.”
Mody further added, We are sure to repeat the success achieved in Standard Chartered Afro Asia Cup and Kingfisher Challenger Series through world-class production, marketing and distribution strength of Zee Sports. We will continue to build on that equity and provide even greater enjoyment to the fans of the game, in the tournament to be played.”
Meanwhile, Cricinfo has quoted Rajasthan Cricket Association president Lalit Modi as saying that the new committee committee has renegotiated terms with Doordarshan. As per the new deal, “DD will continue to market their own rights, and the BCCI will receive 75 per cent of that. That’s a 5 per cent reduction.” Earlier it was an 80:20 revenue share agreement without a minimum guarantee.
Among the other benefits that the BCCI had won, according to Modi, are that the production deal with TWI, which was for $1.052 million, has been renegotiated to $977,000 (a saving of $77,000 for the BCCI). Modi also drew attention to the international rights agreement, which was with Nimbus for a 80:20 revenue share. “We have been able to negotiate with Nimbus and bring them down to 85 per cent-15 per cent,” Cricinfo quotes Modi as saying.
Nimbus chairman Harish Thawani, however, categorically denies that there have been any renegotiation of the international rights agreement. Asserts Thawani, “The revenue share agreement is still at 80:20. There has been no change in that.”
According to Prasar Bharati CEO KS Sarma, Doordarshan will be airing the Tests on its terretrial network as it has the rights for that. Rights fee has not been dislosed by Prasar Bharati, which manages DD and All India Radio.
“DD will be airing the matches on DD National, which is a terrestrial channel,” Sarma said, refusing to come forth with details relating to ad sales and sponsorship deals.
It is expected that with Zee Sports also telecasting it, some of the sponsors on DD for the recently-concluded one-day series against Sri Lanka and South Africa, especially the state-controlled organisations like BSNL, are likely to be on DD’s Test telecast.
From the two one-day series, DD managed to mop up around Rs 1.35 billion, according to Sarma.
When contacted, ESPN Star Sports refused to comment on the developments.
And what of the long-term television rights tender, which will now be for 2006 onwards? Indications are that fresh tenders will be issued in about four weeks time. Assuming that the legal logjam will be be sorted out by then of course.
GECs
Sahara One reports financial results, notes director exit and business realignment
Muted revenues, steady expenses and strategic adjustments shape company’s current phase
MUMBAI: In a tale where the sands seem to be slipping faster than they can be gathered, Sahara One Media and Entertainment Limited has reported another quarter of wafer-thin income and widening losses, even as a boardroom exit adds to the unease.
The company informed the Bombay Stock Exchange that its board, in a meeting held on April 4, approved its unaudited financial results for the quarter ended September 30, 2025. The numbers paint a stark picture. Total income for the quarter stood at just Rs 0.13 lakh, unchanged sequentially and sharply down from Rs 0.26 lakh a year earlier.
Losses, meanwhile, deepened. The company posted a net loss of Rs 24.16 lakh for the quarter, compared to Rs 18.81 lakh in the June quarter and Rs 39.69 lakh in the same period last year. For the six months ended September 2025, the cumulative loss stood at Rs 39.69 lakh, while the full-year loss for FY25 was reported at Rs 60.72 lakh.
Expenses continued to outweigh income by a wide margin. Total expenses for the quarter came in at Rs 24.30 lakh, led by employee benefit costs of Rs 6.51 lakh and other expenses of Rs 17.78 lakh. Earnings per share remained in the red at Rs (0.11) for the quarter.
The balance sheet reflects a company with significant assets on paper but limited operational momentum. Total assets stood at Rs 23,065.57 lakh as of September 30, 2025, broadly unchanged from March 2025. Equity share capital remained steady at Rs 2,152.50 lakh, while total equity was reported at Rs 18,004.85 lakh.
Cash and cash equivalents saw a modest uptick to Rs 6.75 lakh from Rs 4.68 lakh earlier, supported by a positive operating cash flow of Rs 180.01 lakh for the period.
Yet, beneath these numbers lies a more complex narrative. The company’s auditors flagged their inability to obtain sufficient evidence to form a conclusion on the financial statements, citing lack of access to records. They also raised concerns over the company’s ability to continue as a going concern, pointing to insufficient funds, delayed recoveries, and stalled content investments.
Adding to the governance overhang, the company disclosed that Rana Zia has resigned as whole-time director, effective October 16, 2025, citing other professional commitments. The resignation, noted and accepted by the board, also brings an end to her role across company committees.
Regulatory pressures continue to loom large. The Securities and Exchange Board of India has already initiated penal actions for non-compliance with listing norms, with trading in the company’s shares remaining suspended. There is also a risk of promoter demat accounts being frozen.
Legacy legal issues remain unresolved. A substantial deposit of Rs 694,027.88 thousand linked to the long-running OFCD dispute involving Sahara group entities is still under the purview of the Supreme Court of India. Restrictions on asset disposal continue to weigh on the company’s financial flexibility.
Operationally, challenges persist across multiple fronts. Advances worth Rs 1,92,916 thousand given for film content remain stuck, with delays in project completion and uncertain recoverability. The company’s YouTube channel, despite being operational, has generated no revenue for over three years due to compliance lapses. In a further twist, management has indicated that revenues may have been fraudulently diverted through unauthorised changes to its AdSense account, with a police complaint in the works.
There are also missed revenue opportunities. Television content rights continue to be used by a related party despite the expiry of the licence agreement, with fresh negotiations still underway.
For now, Sahara One Media and Entertainment Limited appears caught between legacy disputes and present-day operational hurdles. As losses linger and governance questions mount, the road to recovery looks less like a sprint and more like a slow trudge through shifting sands.
