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32-461: Zee Entertainment Enterprises ( ZEEL ) (formerly Zee Telefilms ) is an Indian media conglomerate . Headquartered in Mumbai , it has interests in television, print, internet, film, and businesses related to mobile content, and operates 45 channels worldwide. In April 1995, the company launched the premium movie channel Zee Cinema, the first channel of its sort in the country. Until 1999, programming
64-517: A bachelor's degree, B.Com from University of Mumbai 1995. Training initially within the Essel Group , Goenka's first assignment, in 1993, was selling amusement park packages for Essel World to schools in Virar , Mumbai . He was assistant to the head of Essel Packaging, the floor supervisor of a factory, and executive assistant to his father for six months. He then joined Zee Music Company . He
96-643: A collection of recorded theatre plays also called teleplay- produced in India and internationally. In February 2019, media reported that Essel Group was in talks to sell their shares from the Zee Entertainment Enterprises to save them from debt. Top Sony officials including Mike Hopkins, chairman of Sony Pictures Television, and Tony Vinciquerra , chairman of Sony Pictures , had visited Subhash Chandra and his family at his residence shortly after Chandra announced his intent to sell half of
128-552: A distribution deal between Viacom International and Zee Telefilms. It was replaced by a new Cartoon Network block in 2002. In 2008, Zee Networks launched Zee Motion Pictures and Zee Limelight (now Zee Studios ) for the development, production, distribution and marketing of mainstream films in Indian languages, including Hindi , Malayalam , Tamil , Telugu , Kannada , Bengali and Marathi . In 2015, Zee acquired Sarthak TV, an Odia-language pay television channel. In 2017,
160-463: A major deadlock in the merger process. However, on 22 January 2024, Sony Pictures Networks India issued a notice to Zee Entertainment Enterprises effectively terminating the merger proceedings due to, among other reasons, the closing conditions to the merger not being satisfied by the given deadline of January 21. On 11 September 2021, Invesco asked Zee management to call shareholders an "extraordinary general meeting" (EGM) to consider its demands. One of
192-666: A majority stake in the proposed merged entity, which will be headed by Zee's Punit Goenka. In December 2021, the merger was approved by the two companies boards. Sony will hold a stake close to 51% in the company, with Zee controlling the remaining stake. On 10 August 2023, the National Company Law Tribunal approved the proposed Sony/Zee merger. On 18 January 2024, the anticipated $ 10 billion merger between Zee Entertainment Enterprises and Sony Pictures India progressed as ZEE's stock increased amid reports that CEO Punit Goenka might step down, potentially resolving
224-445: A number of companies ( subsidiaries ) engaged in generally unrelated businesses. Some media conglomerates use their access in multiple areas to share various kinds of content such as: news, video and music, between users. The media sector's tendency to consolidate has caused formerly diversified companies to appear less diverse to prospective investors in comparison with similar companies that are traded publicly and privately. Therefore,
256-576: A resolution expected to back the merger deal with Sony as long as the Goenka family does not get any preferential equity. On 22 December, Board of Zee signed definitive agreements with Sony after received approval from its board of directors Sonu Nigam alleged that he was banned by the Zee Music Company after he tweeted in support of politician Kumar Vishwas . In February 2016, Zee Entertainment Enterprises forayed into video-on-demand with
288-463: Is a company that owns numerous companies involved in mass media enterprises, such as music , television , radio , publishing , motion pictures , video games , amusement park , or the Internet . The weekly magazine The Nation commented, "Media conglomerates strive for policies that facilitate their control of the markets around the world." A conglomerate is a large company composed of
320-641: Is less diversity in news and entertainment and therefore less competition. This can result in the reduction of different points of view as well as vocalization about different issues. There is also a lack of ethnic and gender diversity as a majority of those in media are white, middle-class men. There is a concern that their views are being shared disproportionately more than other groups, such as women and ethnic minorities. Women and minorities also have less ownership of media. Women have less than 7 percent of TV and radio licenses, and minorities have around 7 percent of radio licenses and 3 percent of TV licenses. In
352-613: Is married to Shreyasi, an art patron and co-director of the Saat Saath Arts Foundation and they have two sons and a daughter. Punit Goenka's parents are Subhash Chandra and Sushila Devi. His brother is Amit Goenka. On 12 June 2023, the Securities and Exchange Board of India (SEBI) barred Punit Goenka, along with Subhash Chandra , from holding the directorial positions in any listed company. This action has been taken in response to allegations of siphoning off
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#1732797297396384-591: Is the managing director and chief executive officer of Zee Entertainment Enterprises . Goenka is the elder son of Essel Group Chairman Subhash Chandra . Goenka grew up and studied in several and Mumbai —before moving to Institut Le Rosey , a boarding school in Rolle , Switzerland . He was elected as the President of Indian Broadcasting Foundation (IBF) in the September, 2016 for a period of one year. He holds
416-877: The 2024 Forbes Global 2000 list, Comcast is the world's largest media conglomerate, in terms of revenue, with The Walt Disney Company , Warner Bros. Discovery , & Paramount Global completing the top four. In 1984, fifty independent media companies owned the majority of media interests within the United States. By 2011, 90% of the United States's media was controlled by six media conglomerates: GE/Comcast (NBC, Universal), News Corp (Fox News, Wall Street Journal , New York Post ), Disney (ABC, ESPN, Pixar), Viacom (MTV, BET, Paramount Pictures), Time Warner (CNN, HBO, Warner Bros.), and CBS (Showtime, NFL.com). Between 1941 and 1975, several laws that restricted channel ownership within radio and television were enacted in order to maintain unbiased and diverse media. However under
448-648: The Reagan administration, Congress and the Federal Communications Commission , then led by FCC Chairman Mark S. Fowler , began a concerted deregulation over the years 1981 and 1985. The number of television stations a single entity can own increased from seven to 12 stations. The industry continued to deregulate with enactment of the Telecommunications Act of 1996 . Signed by President Bill Clinton on 8 February 1996, it
480-521: The Zee board rejected it. Zee Board replied to Invesco's open letter saying they didn't care about the company, and Invesco is not motivated by concerns related to any corporate governance issue but "by the events that transpired during February–April 2021 pointing Invesco purposed deal with Reliance Industries . On 21 October, Bombay High Court asks the Zee board to call EGM as demanded by shareholder Invesco, and Counsel appearing for Zee Entertainment said
512-699: The company acquired the majority stake of the Reliance Broadcast Network. It also planned to acquire 9X Media in October 2017 for the cost of ₹ 160 crore , however, the plan fell through in March 2018. A partially-owned subsidiary, Diligent Media Corporation, is a publisher of Indian daily newspapers and websites. DMC is a joint venture between Zee and the Dainik Bhaskar Group. In 2018, Zee launched Zee Theatre , which offers
544-550: The company will inform the date of the EGM by the morning of October 22. On 22 October, Zee replied to the court that the board can't give a nod to something that will turn out to be illegal. so HC postponed hearing of the Zee-Invesco matter to October 26.and on October 26 Bombay High Court has restrained Invesco from taking any action in furtherance of their requisition notice (to call an EGM). On 7 December, Invesco headed towards
576-678: The concentration of multiple media enterprises in a few companies. This concentration is an ongoing concern for the Canadian Radio-television and Telecommunications Commission , the Australian Communications and Media Authority , the Philippine National Telecommunications Commission , and New Zealand's Broadcasting Standards Authority . Other countries that have large media conglomerates with impacts on
608-692: The funds for their personal benefits from their listed entities, as stated in SEBI's interim order. During his tenure as a CEO, ZEE has won Dun & Bradstreet Corporate Award 2015, IMC Fusion Award 2013 for Excellence in Media, Businessworld Infocom ICT Award 2012 etc. Goenka was awarded the Business Today ‘Best CEO Award’ in the Media and Entertainment category for 2016. He has also received MIPTV's Médaille d'Honneur Award 2016, Economic Times ‘40 Under Forty’ India's Hottest Business Leaders Award 2014,
640-457: The launch of its OTT platform OZEE. On 14 February 2018, this service rebranded as ZEE5 . Since its relaunch as ZEE5, it streams all content from its television network and also movies and original series. ZEE5 claimed 57 million monthly active users in December 2019. Media conglomerate A media conglomerate , media company , media network , media group , or media institution
672-467: The main demands was the removal of Punit Goenka , son of the Zee Network founder. However Zee board rejects a demand from Invesco to convene an extraordinary general meeting. Invesco Developing Market Funds Moves to National Company Law Tribunal (NCLT) and Bombay High Court seeking a mandatory order for Zee Enterprises Entertainment Limited (ZEEL) to call the extraordinary general meeting (EGM) that
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#1732797297396704-421: The merging of entertainment and news ( sensationalism ) at the expense of the coverage of serious issues. They are also accused of being a leading force behind the standardization of culture (see globalization , Americanization ) and are frequently criticized by groups that perceive news organizations as being biased toward special interests of the owners. Because there are fewer independent media, there
736-496: The nation began to speculate how it might negatively impact society at large. In the case of Minot, North Dakota , the concerns regarding media consolidation is realized. On 18 January 2002, a train containing hazardous chemicals derailed in the middle of the night, exposing countless Minot residents to toxic waste. Upon trying to get out an emergency broadcast, the Minot police were unable to reach anyone. They were instead forwarded to
768-523: The promoter holding in Zee Entertainment Enterprises to a global strategic investor. On 2 April reports said that some other promoters were willing to sell their shares worth ₹ 332 crore. On 3 April media reported Sony and Zee Entertainment Enterprises deal off amid valuation differences which opened the door for Comcast-Atairos. On 1 August media reports Invesco Oppenheimer Fund to buy 11% stake in Zee Entertainment. In September 2021, it
800-524: The same automated message, as all the broadcast stations in Minot were single-handedly owned by IHeartMedia . As the FCC reviews media ownership rules, broadcasters continued to petition it for the elimination of all rules, while those who are against this easing would often cite the incident in Minot as how consolidation could be harmful. Canada, Australia, the Philippines, and New Zealand also experience
832-419: The shareholder has been demanding. On 11 October 2021 Invesco write an open letter to the other shareholders saying they are disappointed that the leadership of Zee has resorted to a reckless public relations campaign in response to the overwhelming demand from shareholders for leadership changes at Zee network. also, they implemented that they tried to merge Zee with some other Indian company in early 2021 but
864-760: The term media group may also be applied, however, it has not yet replaced the more traditional term. Critics have accused the large media conglomerates of dominating the media and using unfair practices. During a protest in November 2007, critics such as Jesse Jackson spoke out against consolidation of the media. This can be seen in the news industry, where corporations refuse to publicize information that would be harmful to their interests. Because some corporations do not publish any material that criticizes them or their interests, media conglomerates have been criticized for limiting free speech or not protecting free speech. These practices are also suspected of contributing to
896-910: The world include: Japan, Germany, the United Kingdom, Italy, France, China, Mexico and Brazil. Media conglomerates outside of the United States include Fujisankei Communications Group ( Fuji Television ), Yomiuri Shimbun Holdings , Hubert Burda Media , ITV , ProSiebenSat.1 , Mediaset , Axel Springer , JCDecaux , China Central Television , Alibaba Group , ABS-CBN Corporation , GMA Network , MediaQuest Holdings , Radio Philippines Network , Aliw Broadcasting Corporation , Advanced Media Broadcasting System , People's Television Network , Intercontinental Broadcasting Corporation , Presidential Broadcast Service , Viva Communications , Prasar Bharati , The Asahi Shimbun , Grupo Televisa , TV Azteca , Grupo Imagen , Grupo Globo , Baidu , GMM Grammy and Bertelsmann . Punit Goenka Punit Goenka
928-415: Was considered by the FCC to be the "first major overhaul of telecommunications law in almost 62 years". In the radio industry, the 40-station ownership cap was lifted, leading to an unprecedented amount of consolidation. Since this period, IHeartMedia grew from 40 stations to 1200 stations, in all 50 states, while Viacom grew to owning 180 stations across 41 markets. As media consolidation grew, some in
960-506: Was done by Star TV . In the following years Zee Cinema has also catered to international markets like South-East America, Europe , Middle East , North Africa , Pakistan , Indonesia and Asia Pacific and the Rest of Africa . Zee Cinema (Canada) is available in Canada as a joint ventures with Ethnic Group. Zee Telefilms launched a Nickelodeon-branded programming block in 1999 as part of
992-451: Was put in charge of organizing funding for Agrani—a programme to launch the group's own satellite. He helped launch Dish TV , working with his uncle, Jawahar Goel, for a year in Delhi . He then moved back to Mumbai and ran Zee Sports . In 2005, he was appointed business head of Zee TV where he ran the content for the entire network. In 2008, he took over as CEO from Pradeep Guha. Goenka
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1024-482: Was reported that Invesco Developing Markets Funds and OFI Global China Fund LLC, who jointly holds a 17.88% stake, wanted Punit Goenka (also the son of founder) to step down as MD and CEO. It was also reported that Essel Group owns a sum of 3.99% minority stake. In 2024, Zee Entertainment Enterprises partnered with Sony Pictures Entertainment. On 22 September 2021, the company announced its intent to merge with Sony Pictures Networks India . Sony Pictures will hold
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