Star India was to license TV broadcasting rights for ICC events to Zee for 4 years, starting this year. Zee, however, quit $1.4 bn deal after missing its first $200 mn payment.
Securities and Exchange Board of India said that Zee group promoters Subhash Chandra and Punit Goenka were involved in diverting company funds to the group's related entities.
In an order Friday, the I&B ministry said Zee accessed DD Free Dish’s vast audiences without paying necessary auction fees. This comes after competitors raised the issue with govt.
Sony will own a 50.86% stake in the merged entity while Zee founders will own 3.99%. The merger will help expand Sony's media business in India where Zee commands 17% of the market.
Indian business landscape favours firms that are either substantially owned by a family, or controlled by a multinational. To come out ahead, Invesco might need to tweak its tactics.
Sony is merging with Zee. It will control the larger empire & infuse an additional $1.4 bn of cash into it. But the combined entity will be presided over by Punit Goenka, Chandra’s son.
Move came after Zee shareholders sought removal of key officials. However, Zee CEO Punit Goenka, whose removal was sought, will lead the merged entity.
On 24 August 1949, Jaipal Singh Munda, the driving force behind the Jharkhand movement, argued for political representation and self-governance for the tribal community in the Constituent Assembly.
Without a Congress revival, there can be no challenge to the BJP pan-nationally. Modi’s party is growing, and almost entirely at the cost of the Congress.
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