Investments

Sports, digital to drive Viacom18 revenue for 'foreseeable future'

SportzPower Team

Apr 23, 2024 21:04

Read more about Sports, digital to drive Viacom18 revenue for 'foreseeable future'
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Revenues at Viacom18, the media arm of Mukesh Ambani’s Reliance Industries Limited (RIL), grew by 49% for the 2023-24 financial year on the back of sports and news. The company’s revenues reached Rs 10,826 crore ($1.3 billion) in FY24 as compared to Rs 7,266 crore ($872m) in FY23.

Per the company’s statement, sports was the biggest driver of revenue growth for Viacom18.

EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) was significantly down however - from $28.3 million the previous year to $3.9m.

Jan 31, 2024 18:01

'Unable to comment': RIL on Viacom18-Disney merger talks

Reliance Industries Ltd was on Tuesday non-committal on reports of a potential merger between RIL controlled Viacom18 with Disney's India unit.

Jan 30, 2024 18:01

Zee merger termination: NCLT issues notice to Sony

The National Company Law Tribunal (NCLT) on Tuesday accepted a petition by a Zee Entertainment Enterprises Ltd shareholder seeking the merger of ZEE with Culver Max Entertainment Ltd (aka Sony Pictures Network India), which was called off last week despite regulatory approvals, PTI reports.

Jan 30, 2024 16:01

AIPA partners Gaurav Natekar to launch pickleball league

The All India Pickleball Association (AIPA), the body that lays claim to governing the fledgling sport in India, has inked a long term deal with Natekar Sports and Gaming (NSG) to organise a pickleball league in India. NSG is founded and promoted by Gaurav Natekar, former India no 1 tennis player, double Asian Games gold medallist and Arjuna Awardee.

Jan 27, 2024 17:01

Disney's India unit valued at $4.5bn in RIL merger talks: Report

Third time has certainly not been a breeze for The Walt Disney Company and its investments in India. It was in July 2018 that The House of Mouse completed the takeover of 21st Century Fox for all of $71.3 billion. And the valuation of Fox's India unit Star TV at the time? $16bn!

Jan 24, 2024 18:01

ZEE moves NCLT against Sony over merger deal termination

Zee Entertainment Enterprises Ltd (ZEE) has moved the National Company Law Tribunal (NCLT) against Sony's decision to call off the merger of the two media majors, news agency PTI reported, citing an official filing.

Jan 24, 2024 17:01

NODWIN acquires Comic Con India at Rs55cr valuation

NODWIN Gaming has acquired Comic Con India, a company famous for hosting multiple pop cultural festivals targeting youth in India. This acquisition not only diversifies NODWIN Gaming's youth portfolio but also marks a strategic expansion in the global entertainment landscape, the company stated in a release.

Jan 23, 2024 18:01

ZEE shares hit lower circuit; institutional shareholders to call EGM

Shares of Zee Entertainment Enterprises Ltd. were locked in a revised lower circuit of 30%, falling to their lowest in over three years, on Tuesday as brokerages downgraded the stock after Sony Group Corp.'s Indian unit terminated the merger agreement. Shares of ZEE nosedived 30.50 percent on January, breaking a series of extended lower circuits through the day and hitting its 52-week low of Rs 152.50.

Jan 19, 2024 19:01

Sony Grp board meeting to decide fate of merger with ZEE

Sony Group Corp has reportedly convened a board meeting scheduled for Friday to make a crucial decision regarding its STILL flailing in the waters plan for a $10-billion merger with Zee Entertainment Enterprises in India.

Jan 18, 2024 18:01

Nazara Tech raises Rs250cr; picks up stake in Kofluence

Gaming and sports media platform Nazara Technologies on Wednesday announced its board has approved a preferential share issue worth Rs 250 crore, while also picking up minority interest in social media influencer platform Kofluence Tech through a share swap deal that values the transaction at Rs 32.41 crore.

Jan 15, 2024 20:01

Sachin Tendulkar invests in Indian Street Premier League

MUMBAI: Legendary cricketer Sachin Tendulkar has made a strategic investment in the Indian Street Premier League, India’s pioneering tennis ball T10 cricket tournament to be played inside a stadium. The Master Blaster will play a pivotal role in advising and shaping the format of the T10 cricket league as a core committee member.

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