Tag: Media

Subhash Chandra-led Essel Group reaches settlement with JC Flowers ARC; to repay Rs 1,500 crore over 7 months

CNBC-TV18 has learnt that as part of the agreement, Essel Group entities have committed to repaying Rs 1,500 crore within a span of seven months to JC Flowers. The terms of the settlement dictate that 15 percent of this amount would be repaid within the first 30 days, with the remaining 85 percent to be paid over the following six months, the sources said. (Image sourced from ZEE website)

The deal relates to Essel Group’s debt amounting to around Rs 6,500 crore, which JC Flowers ARC had acquired from Yes Bank at a discounted rate as part of the lender’s transfer of a Rs 48,000 crore Non Performing Assets (NPA) portfolio to the ARC for a little over Rs 11,183 crore in December last year.

BCCI media rights auction today: All you need to know

Last year, the Bombay High Court directed the BCCI to seek the opinion of the Supreme Court regarding the issue (Image source (from left to right): Moneycontrol and Unsplash)

Experts predict a departure from the extravagant spending observed during IPL rights acquisition.

OpenAI on track to earn $1 billion in annual revenue through ChatGPT

According to ‘Win with Conversations’, a report Meta launched with Bain & Company, 70 percent of surveyed large enterprises are already engaging with half of their customer base using conversational platforms. (Representative image by Andrea De Santis via Unsplash)

OpenAI, founded by Sam Altman and backed by Microsoft Corp is currently earning $80 million dollars in revenue monthly.

Why Mukesh Ambani is betting on Reliance Retail to spearhead RIL’s future growth

As of FY23, the retail business contributed 12 percent to the group’s EBITDA, up from 7 percent in FY19. This growth has been gradual in case of retail compared to Jio (from 17 percent in FY19 to 34 percent in FY23). (Image sourced via Forbes India)

RIL is banking on India’s per capita growth to lead its retail business’ explosive growth. India’s per capita income will likely hit $10,000 by 2050, going by the trend in the last 10 years. Ambani expects its retail business to ride this growth.

Punit Goenka’s SEBI order appeal set for SAT hearing on September 8

The regulatory body’s investigation into Zee founders, primarily focusing on Subhash Chandra and Puneet Goenka, reportedly uncovered the potential diversion of approximately Rs 20 billion ($241 million) from the company. This figure is roughly ten times larger than SEBI's initial estimates, raising concerns about financial irregularities within Zee. (Image sourced via CNBC TV-18)

In April, SEBI issued an interim order, barring Subhash Chandra and Punit Goenka from key positions in any listed company.

India’s total internet subscribers touched 881.25 million in March 2023: TRAI

These findings come on the heels of HCLTech's strategic brand transformation efforts initiated 15 months ago. (Representative image by Kelvin Han via Unsplash)

Out of 881.25 million internet subscribers in India, the number of wired internet subscribers is 33.94 million and the number of wireless internet’ subscribers is 847.31 million.

Realistic bids expected for BCCI media rights, experts predict shift from past extravagance

Last year, the Bombay High Court directed the BCCI to seek the opinion of the Supreme Court regarding the issue (Image source (from left to right): Moneycontrol and Unsplash)

Even with BCCI presenting two separate packages for TV and digital, the list of contenders is short. Disney Star, Sony Sports and Viacom18 are said to be the three participants in the bidding.