Zee Entertainment Enterprises Ltd (ZEEL) will be de-listed from FTSE Global Equity indices following its merger with Culver Max Entertainment (Sony Entertainment India), media networks have reported.

FTSE Russel has said the date of the merger is not known yet, media reports say.

Under the merger terms, Zee Entertainment Enterprises shareholders will receive 85 new Culver Max Entertainment shares for every 100 shares held.

“...subject to the completion of the merger, FTSE Russell anticipates Culver Max Entertainment will replace Zee Entertainment Enterprises in the FTSE Global Equity indices based on the merger terms on the effective date of the merger," it said.

According to Karan Taurani, senior vice president of research at brokerage Elara Capital, the delay is marginal. He added that there could be a marginal delay in filing the merged entity's closing precedents (CPs). The record date for a merger is usually given one week before delisting. As a result, relisting could take place in the second week of December 2023, he said.

On August 10, the Mumbai Bench of NCLT had given its nod to Zee's $10 billion merger with Culver Max. It had dismissed the objections raised by lenders including IDBI Trusteeship, IDBI Bank, Axis Finance, JC Flowers Asset Reconstruction Co and Imax Corp.

Recently, IDBI Bank and Axis Bank have moved the NCLAT challenging the NCLT order that had cleared the decks for the merger of ZEE and Sony after a roller-coaster ride of two years.

The journey of the merger began in December 2021 with ZEEL’s Board of Directors considering and approving the Scheme of Arrangement under Sections 230 to 232 of the Companies Act, 2013 (Scheme), whereby the Company and Bangla Entertainment Private Limited, an affiliate of Culver Max Entertainment Pvt Ltd (formerly known as Sony Pictures Networks India Private Limited), shall merge in Culver Max Entertainment Pvt Ltd.

After getting the requisite approvals and NOCs from shareholders and certain regulators, including SEBI and the Competition Commission of India (CCI), the company filed a petition with NCLT for approval of the scheme.

On July 11, the tribunal reserved its order on the merger following hearing objections from several creditors, including Axis Finance, JC Flower Asset Reconstruction Co., IDBI Bank, IDBI Trusteeship and Imax Corp.

GroupM has launched the South Cinema Audience Behaviour Report that sheds light on the movie-going habits of the South cinema audience and provides insights to advertisers and marketers.

According to the report, ‘watching a movie at a theatre’ has the highest monthly average frequency of all outdoor leisure activities among South cinema audience - with an average of 1.8 visits per month, translating to 22 visits annually. The report also reveals that 8 out of 10 South Cinema audience visit a theatre at least once a month, which is twice the national average.

Commenting on the report, Ajay Mehta, MD - Cinema and OOH, GroupM India said, "Our report is a game-changing tool for marketers and advertisers looking to engage with South Cinema audience. By shedding light on the unique preferences and behaviours of this audience, we can now tailor our campaigns to resonate with them on a deeper level. A noteworthy example is the exceptional success of 'Jailer,' starring Rajinikanth, which has become the top-grossing Tamil film in India. Impressively, 'Jailer' ranks as the second-fastest Tamil film to amass an astonishing ₹550 crore worldwide at the box office. The fact that a heavy cross-section of South Cinema audience is watching 32 movies in a year highlights the immense potential of this market. With the South Cinema Audience Behaviour Report, we are equipped with the insights needed to tap into this potential and drive real business results."

The report further highlights that 'heavy' South moviegoers visit the cinema on an average of 32 times annually, which is 20 visits more than the national average. Further, the heavy cross-section of South Cinema audience from Andhra Pradesh & Telangana and, Kerala watches 36 movies in a year.

The report also throws a light on language preferences among the South Cinema audience.
In Karnataka, Telugu is the second most preferred language among those preferring Kannada, while in Kerala, Tamil is the second most preferred language for those preferring Malayalam. The report also suggests that horror/thriller is the top genre for visiting a cinema in Andhra Pradesh & Telangana and, Kerala.

Andhra Pradesh and Telangana cine-goers prefer to watch a movie on the first day with a preference of 66% for any show on the first day. Apparently, all South cinema audience consider nearby theatres.

The South Cinema Audience Behaviour Report provides marketers and advertisers with valuable insights into the preferences and behaviours of Southern states regular cine-goers. The data and insights from this report will enable advertisers to create more effective marketing campaigns and better connect with the South Indian audience.

Governor of Kerala Arif Mohammed Khan will be the Chief Guest at the 2nd edition of e4m English Journalism 40 Under 40, to be held in New Delhi.

exchange4media’s English Journalism 40 under 40 recognizes professionals in the domain, be it print, television, or digital. The list will include editors, reporters, anchors, journalists, marketing & digital media professionals, videographers, news producers and video editors.

The list will be out after a highly rigorous jury process at the end of which 40 individuals will be chosen for their outstanding and trendsetting work in their respective spheres.

Manoj Mathur, Editor, Digital, at Zee Media Regional is no more.

Zee Media has expressed deep grief over the demise of Manoj Mathur and paid tribute to him.

Mathur was associated with 'Zee Media' for a long time as Editor of 'Zee' (Rajasthan). Later the management handed him the responsibility of Editor,Digital, at Zee Media  Regional.

Mathur had over two decades of experience in media. Prior to Zee Media, he was  associated with 'India News' for about a year and 'ETV' for over eight years.

The Walt Disney Company reportedly held talks with the Mukesh Ambani-owned Reliance Industries (RIL) among other potential buyers about its India streaming and television business. Reports say that the US-based entertainment conglomerate has been considering deals ranging from total sale of Disney Star business to partial  transactions of assets such as sports rights and streaming service Disney+ Hotstar.

Disney has been mulling options, including a complete sale to even considering a joint venture after its Indian streaming service lost its rights to the IPL tournament to Viacom18 Media.

Disney reportedly approached Reliance about buying a stake in the business. The talks have not culminated in any deal and Disney could hold on to the assets for longer, said reports.

The 11 Chief Ministers who are part of the I.N.D.I.A alliance are considering to stop advertising on some TV channels that they believe are pro-BJP.

As per a social media fan page dedicated to TMC MP Mahua Moitra, "The plan is to hit these propaganda channels financially."

The fan page says: "Let these channels run BJP’s agenda by inviting BJP’s spokesperson & also run their channel from the money earned from advertisements given by BJP ruled state."

This comes after the I.N.D.I.A. Media Committee decided not to send their representatives to shows and events hosted by certain journalists/anchors.

The News Broadcasters & Digital Association (NBDA) has expressed anguish and concern at the decision.

The Telecom Regulatory Authority of India (TRAI) has extended the last date for receiving written comments on the issues raised in the Consultation Paper on  'Regulatory Mechanism for Over The Top (OTT) Communication Services, and Selective Banning of OTT Services to September 29, 2023. 

TRAI said that keeping in view the request of an industry association for the extension of time for submission of counter comments, it has been decided to extend the last date for submission of counter comments. 

On the request of stakeholders for an extension of time for submission of comments, the last date for submission of written comments and counter comments was initially extended up to August 18, then to September 1 and thereafter till September 15.