GECs
ZEEL likely to sell 20% to Sony Corp
MUMBAI: Japanese multinational conglomerate Sony Corp is in advanced talks with Subhash Chandra-promoted Zee Entertainment Enterprises Ltd (ZEEL) to buy a stake in the firm. As the company has been struggling to raise funds to pay huge debt, Chandra is looking to sell 20-25 per cent stake.
According to a report by Mint, the entire amount raised through the stake sale would be used to repay promoter debt worth Rs 13,000 crore. The report also added that the talks have reached the valuation stage wherein Subhash Chandra wants to sell the stake at a premium of about 30 per cent. But the total stake that promoter Subhash Chandra wants to retain in Zee may be a concern for the deal.
Essel Group holds 41.62 percent stake in ZEEL and more than half of the stake is pledged with lenders, as per latest data. Sony wanted to pick up at least 25 per cent, which would also allow it to have promoter rights, the report said.
The deal with ZEEL will be a great boost for Sony to strengthen its foothold in India. Along with a strong television business, the firm’s OTT platform ZEE5 also gained good traction in a short span.
Earlier too, analysts predicted that that it would command a huge premium by virtue of being the most profitable media company. However, the current crisis may not allow it to do so giving potential buyers chances for negotiation.
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.
