Zee-Sony Merger Back On Track The merger of Zee Entertain Enterprises and Sony’s Indian arm looks to be back on track after an order banning Punit Goenka from managing the new entity was lifted yesterday. The merger of Zee and Culver Max Entertainment was given the go-ahead in August, but the merger has run into
Mergers and Acquisitions
Disney could be offloading its Indian operation in a deal valuing the business at $10B. Bloomberg News reported that a deal to sell a majority stake to rival Reliance Industries was nearing completion. Citing unnamed sources close to the agreement, it reported Reliance values the assets it would acquire at between $7B-$8B, meaning Disney India
Studio Ghibli has a new lead shareholder in the shape of Nippon Television Holdings. A joint statement noted Nippon, one of Japan’s leading media and broadcasting congloms, was acquiring 42.3% of the Spirited Away and My Neighbor Totoro studio, according to Reuters. This gives Nippon a leading position in the famed anime house. No financial
Tom Carter, a longtime former Nexstar exec who is now a senior advisor to the CEO and board of directors, says the company could acquire Disney’s local ABC TV stations with “little friction” if they become available. Disney CEO Bob Iger spurred talk of a potential sale of the eight stations over the summer when
UFC parent Endeavor Group and World Wrestling Entertainment said today they expect to close the planned merger of UFC and WWE on September 12. That’s on the earlier end of expectations as Endeavor said in August it expected the deal to close in mid-to-late September. Endeavor and WWE announced a deal last spring for the
The Indian mega-merger between Sony’s TV operations in India and Zee Entertainment has been given the greenlight, paving the way for a $10B TV partnership. According to Reuters, people present at a regulatory hearing said on Thursday a key approval had been given. Zee’s shares were up 10% after the National Company Law Tribunal cleared
Allen & Co.’s annual Sun Valley Conference is known for drawing an A-list roster of execs from across the media and tech realms, with a generous sprinkling of sports commissioners, politicos and other notables added to the mix. This year’s event, which gets under way Tuesday, looks to be no exception to the rule, though
NBCU and Sky owner Comcast has invested in James Murdoch’s Bodhi Tree Systems, which in turn is becoming a key player in a new-look Viacom18. Comcast-owned company NBCUniversal Media has paid an undisclosed amount for a shareholding in Bodhi Tree, which former Fox CEO Murdoch launched with ex-Star and Disney India Chairman Uday Shankar launched
WWE and UFC parent Endeavor Group Holdings made things official in an SEC filing Monday morning, confirming their blockbuster merger into a combat sports colossus. Word surfaced on Sunday of the combination, capping a months-long effort by WWE to explore a deal. The wrestling circuit has proven to be one of the most reliable ratings
EXCLUSIVE: As crucial movie rental revenue finally starts to return, Redbox and Crackle parent Chicken Soup for the Soul Entertainment is taking steps to tighten its corporate belt. Chatter in media and entertainment circles has been growing louder as Chicken Soup’s stock has skidded to an all-time low, putting its market value at $55 million.
Sean “Diddy” Combs on Wednesday bolstered recent media reports that he is kicking the tires of BET Networks, which is in the early stages of being shopped by parent Paramount Global. Combs would join other interested parties in a stake sale of Paramount assets (including BET’s linear networks, BET+, BET Studios and VH1) joining fellow moguls Tyler
Endeavor CEO Ari Emanuel ruled out any major stock deal right how and indicated reluctance to increase debt, both at a time when the UFC’s main rival, WWE, is up for sale. “Here’s what I would say to you, I don’t talk about M&A,” he told a Morgan Stanley investor conference when asked about a
As the hunt for the next Squid Game continues, we’re seeing new consolidation in the South Korean content sphere. Korean streaming platform Wavve has bought KOCOWA (Korean Content Waave), the K-content streamer that operates in the Americas. The companies already have similar ownership structures, with Wavve (aka Content Wavve) owned by Korean networks KBS, MBC and
Imax Corp. has acquired Ssimwave, an Ontario-based AI-driven tech firm whose clients include media giants from Disney and Paramount Global to Warner Bros. Discovery and NBCU parent Comcast. It’s a cash and stock deal worth $21 million. Imax has also worked with Ssimwave, an expert in enhancing on-demand and live visual imagery for broadcast and
The CW is about to enter a new ownership era, as local TV giant Nexstar Media Group has confirmed a pending deal to acquire a 75% stake in the 16-year-old broadcast operation. Warner Bros Discovery and Paramount Global will each retain a 12.5% ownership interest in the CW and will continue to produce scripted content
The mountains are as gorgeous as ever, the deal climate not so much as boutique investment bank Allen & Co. prepares to host its annual Sun Valley retreat. After guests arrive on Tuesday, official activities get under way Wednesday. The annual ritual of media-mogul whitewater rafting and shop talk is a 40-year, post-July 4 tradition.
In a streaming deal struck with an eye toward the current high-inflation economic environment facing consumers, Crackle parent Chicken Soup for the Soul Entertainment is acquiring Redbox. Founded in the heyday of DVDs two decades ago, Redbox is best known for its network of 38,000 bright red, disk-dispensing kiosks at convenience and grocery stores. It
Discovery shareholders are set to OK the $43 billion merger with WarnerMedia on Friday, the last big step before AT&T completes the spinoff. Ahead of the deal’s expected close next month, a who’s-in/who’s-out parlor game is gaining intensity as CEO David Zaslav finalizes the leadership team. Top managers who have been with the exec for
Discovery shares, which have been in a funk for months, roared back to life today, jumping 17% on heavy trading volume after a validation from a veteran Wall Street analyst. Bank of America’s Jessica Reif Ehrlich upgraded Discovery shares to a “buy” from “neutral” and rhapsodized about its potential in a note to clients. She
AMC Networks has acquires Houston-based Sentai Holdings, which supplies anime content and merchandise and also operates the Hidive direct-to-consumer streaming service. Terms of the deal were not disclosed. The transaction encompasses all of the member interests from Cool Japan Fund, a public-private Japanese investment fund. Under interim CEO Matt Blank, AMC Networks is continuing to purse
Kevin Mayer and Tom Staggs’ Blackstone-backed media venture has set its next acquisition, of Faraway Road Productions, the company behind Fauda and Hit & Run, Deadline has confirmed. The deal will likely be announced early in the new year, according to people familiar with the transaction. It will be the duo’s third following Reese Witherspoon’s
Discovery, announced today that the European Commission has granted unconditional antitrust clearance of the company’s proposed acquisition of AT&T’s WarnerMedia business. “Approval from the European Commission is a key milestone toward completing our proposed transaction with AT&T,” said Discovery CEO David Zaslav, who will be CEO of the combined company. “Today we move one important
AT&T is in talks to sell WarnerMedia’s celebrity gossip site TMZ to Fox, Deadline has confirmed, in yet another deal paring down the telco’s entertainment assets, one that comes as it prepares to spin off Warner and merge it with Discovery. That $43 billion-deal was announced in May and may not close until the middle
Hollywood and media industry financing sources have tended to be cyclical, with new money refreshing the old every few years. The current cycle of private equity investment, though, is bucking that history and could extend the M&A wave for years to come, dealmakers say. Transactions like the $900 million takeover of Reese Witherspoon’s Hello Sunshine,
ViacomCBS Chair Shari Redstone was doing the rounds at Sun Valley but contrary to reports, she did not have a meeting with Comcast CEO Brian Roberts at the Allen & Co. mogul mountain retreat, according to a person familiar with the situation. The Philly-based conglom has been the subject of constant deal speculation since two
Discovery CEO David Zaslav said WarnerMedia’s content machine plus his company’s global reach will more than secure the merged ops a place at the Netflix and Disney+ winners table. At a media conference Tuesday, he gave multiple shout-outs to Casey Bloys, HBO’s hit The Mare of Easttown, CNN/Jeff Zucker, theatrical releases and an advertising-light streaming
In the wake of Monday’s news that Amazon is making a go at MGM, it’s been radio silence. As of today, we hear that both sides remain actively in talks, and want to get the deal done soon but the time frame remains undefined. With Amazon’s recent acquisition of big pics like Paramount’s Coming 2
In an hour-long press briefing, Discovery CEO David Zaslav and AT&T CEO John Stankey outlined plans for the companies’ $43 billion merger. “We’re going to be one company,” Zaslav said. “One company, one culture, one mission.” As to the timing of the deal, Stankey said he felt the entertainment portfolio had achieved “escape velocity” in
A word for stocks in 2020: epic — as in monumental, as a bona fide crash in the spring alternated thereafter with convulsions of angst and optimism reflecting a world turned upside down by the first global pandemic in a century. Major indexes from the Dow Jones to the Nasdaq, S&P 500 and Russell 3000