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Zee-Sony merger: Will SEBI’s new revelations impact March 12 NCLT hearing?

After the deal was terminated in January, Zee apparently has reached out to the Sony executives to reconsider the termination and has also offered for talks this month.

While there is no confirmation from the regulatory body on reports alleging discrepancies to the tune of $241 million in Zee accounts, stakeholders wonder if it will have any bearing on the critical March 12 NCLT hearing.

Indian Internet user base touched 881.25 million in March 2023: TRAI

Vodafone Idea (127.69 million), BSNL (20.65 million) and Intech Online Pvt. Ltd. (0.24 million). (Representative Image: David Arrowsmith via Unsplash)

Broadband subscriptions also grew. It touched 846.57 million in March 2023, compared to 788.29 million in 2022.

The reports and rumours pertaining to accounting issues in the Company are incorrect and false: ZEE

The violation stated reads GST demanded towards excess ITC claimed in GSTR-3B.

As per Bloomberg reports, SEBI has discovered a discrepancy of over $240 million in the accounts of Zee Entertainment Enterprises Ltd.

Zee-Sony Saga: Can the terminated merger be revived? Or is it reopening Pandora’s box?

On April 16, ZEEL had said that it has decided to withdraw the merger implementation application filed before the NCLT, Mumbai bench against Sony.

Reports of a revival of merger talks between Zee and Sony prompted the former to issue a clarification that Zee was “not involved in any negotiations”. Now SEBI has unearthed fresh monetary discrepancies in ZEE’s dealings.

FM Radio ad revenue jumps 26 percent in 2022-23 to touch Rs 1547.13 crore: TRAI

Radio industry requested TRAI for subsidies, minimum costs for hardware upgradation, a phased transition, and the usage of existing spectrum to also do digital in a simulcast mode.

The reported advertisement revenues by the private FM Radio broadcasters have 3 3 increased from Rs 1227.15 crore in the year 2021-22 to Rs 1547.13 crore in the year 2022-23.

Television revenue in India dropped from Rs 72,000 crore to Rs 70,900 crore in 2022: TRAI

Online and OOH have fallen compared to their 2023 levels, offsetting rising TV inflation. (Image source: Moneycontrol)

These numbers suggest a shift in consumer behaviour and potential opportunities for ad-supported models in the Indian television landscape.

Zee Entertainment faces fresh woes as SEBI uncovers $240 million discrepancy

The violation stated reads GST demanded towards excess ITC claimed in GSTR-3B.

As per reports, this figure is roughly ten times larger than SEBI’s initial estimates, raising concerns about financial irregularities within Zee.

NCLT restrains Star India from stopping Essel-backed Siti Network’s TV signals

Star had issued a disconnection notice to Siti on January 25 for non-payment of outstanding subscription dues, requiring the platform to make the payment within three weeks or face disconnection, as per reports. (Image source: Justdial)

Star-Siti wars continue, but the NCLT has granted interim relief to Siti.

Zee says ‘not involved in any negotiations’ with Sony to salvage merger deal

On April 16, ZEEL had said that it has decided to withdraw the merger implementation application filed before the NCLT, Mumbai bench against Sony.

Zee clears the air on reports about a last-ditch effort to revive the $10 billion Sony merger deal that collapsed in January 2024.

Data security, a top priority for MIB: Anurag Thakur

Thakur said, “4 lakh crore sale happened of local items. This happened after PM appealed for ‘Vocal for Local’ and he asked people to buy local products. This shows how much people consider PM.” (Image source: official website - anuragthakur.in)

As Storyboard18 first reported on February 15, MIB Minister Anurag Thakur addressed various topics at the International Conference and Exhibition on Broadcast and Technology, including regional content, sustainable broadcasting, and data security.