News Broadcasting
ZEEL equity shareholders give thumbs up to Sony-Zee merger
Mumbai : Zee Entertainment Enterprises Ltd (ZEEL) has announced that the company’s equity shareholders have approved the proposed merger of ZEEL and BangIa Entertainment Pvt. Ltd. with and into Culver Max Entertainment Pvt. Ltd . (formerly Sony Pictures Networks India Pvt. Ltd.)
The company called the meeting of its equity shareholders on 14 October in accordance with the National Company Law Tribunal (NCLT), Mumbai Bench, order dated 24 August in order to ask for approval for the proposed merger.
The proposed merger resolution was presented during the meeting, and 99.99 per cent of the equity shareholders of ZEEL enthusiastically endorsed it.
The company said, “The approval marks yet another firm and positive step forward, in the overall merger completion process.” ZEEL managing director & CEO Punit Goenka will be the managing director and CEO of the amalgamated business.
After an exclusive negotiation period in which both parties engaged in mutual due diligence was over, Sony Pictures Networks India (SPNI) and ZEEL finalised the merger in December of last year.
The promoters (founders) of ZEEL will hold 3.99 per cent of the combined company after the transaction closes, while the remaining ZEEL shareholders will hold a 45.15 percent stake. Sony Pictures Entertainment Inc. will indirectly hold a majority of 50.86 per cent of the combined company.
Through a subsidiary, Sony Pictures Entertainment (SPE) will pay certain Zeel promoters a non-compete fee in accordance with the transactions envisioned by a non-compete agreement. The non-compete fee will be used by these promoters (founders) to provide SPNI with initial equity funding, granting them the opportunity to buy shares in SPNI that, on a post-closing basis, would equal roughly 2.11 percent of the total shares of the combined company.
Goenka said, “On behalf of all the Board members and management of ZEEL, I would like to thank the equity shareholders of the company for recognising the value-accretive opportunities the proposed merger will deliver to all stakeholders. The continued trust and overwhelming support by our equity shareholders towards the resolution of the Composite Scheme of Arrangement, further strengthen our abilities to consistently deliver higher value as we move forward in this process.”
The Competition Commission of India (CCI) granted ZEEL permission in a communication dated 4 October. The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) have also given the company their approvals for July 2022.
The Composite Scheme of Arrangement is still pending approval from the relevant authorities and other parties.
News Broadcasting
CNN-News18 to host Fury in the Gulf conclave on West Asia crisis
Three-hour summit to unpack geopolitical fallout and impact on India
MUMBAI: CNN-News18 is set to host a special three-hour broadcast, Fury in the Gulf – War Conclave, on April 7, aiming to decode the escalating West Asia crisis and its far-reaching implications for India.
Scheduled from 4:00 PM to 7:00 PM, the conclave comes at a time when tensions between Iran and the United States are reshaping global geopolitics and triggering economic uncertainty. With India’s deep energy ties, trade links and large diaspora in the Gulf, the developments carry significant domestic relevance.
Built around the theme ‘Conflict, Consequences, and The Future,’ the programme will feature six curated sessions combining one-on-one interviews and panel discussions. The focus is to cut through the clutter and offer viewers a clearer understanding of the fast-evolving situation.
Key sessions include ‘Diplomacy in Times of War’ featuring Shashi Tharoor, and ‘World After the Iran Conflict’ with voices such as Ram Madhav, Reuven Azar, representatives from the European Union and the Iranian Deputy Envoy. Another session titled ‘Another Dunkirk?’ will bring together K. J. S. Dhillon and Jitin Prasada among others.
CNN-News18 editorial affairs director Rahul Shivshankar said, “In times of war, clarity becomes the most powerful tool. Fury in the Gulf – War Conclave brings together credible voices to address the questions and confusion that arise amid an overwhelming influx of information.”
He added that the initiative is aimed at delivering “facts, perspective, and insight” at a time when misinformation can easily cloud public understanding.
Echoing the sentiment, CNN-News18 CEO– English and business news Smriti Mehra said the conflict marks a defining global moment, with consequences that extend well beyond the region. She noted that the conclave seeks to present the crisis with “depth, nuance and responsibility” so audiences can better grasp its real-world impact.
As geopolitical tensions continue to dominate headlines, the conclave positions itself as an attempt to bring order to the noise, offering viewers a structured, insight-led look at a complex and rapidly shifting global situation.
