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News on Medial
Sony considering chip unit spinoff: Report
Economic Times
·
3m ago
Medial
Sony is reportedly considering spinning off and listing its semiconductor unit while potentially retaining a minority stake, according to Bloomberg News. This move aligns with Sony's recent strategic shifts, including spinning off its financial arm, as it focuses on strengthening its entertainment and technology segments. However, a Sony spokesperson mentioned that no specific plans have been finalized, indicating the speculation-driven nature of the report. The anticipated spinoff could occur as soon as this year.
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Tata Group considering spinoff of battery business Agratas
Livemint
·
1y ago
Medial
Tata Group is reportedly considering spinning off its battery business, Agratas Energy Storage Solutions Pvt, as an independent unit. The move would enable the battery business to raise funds and potentially go public in Mumbai. Agratas, which designs and manufactures batteries for the automotive and energy sectors, has factories in India and the UK. The potential listing could value Agratas between $5 billion and $10 billion. Tata Motors is also exploring similar spinoff plans for its EV business.
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SEBI finds ₹2000 cr accounting issue at Zee Entertainment Enterprises: Reports
Livemint
·
1y ago
Medial
India's market regulator, SEBI, has discovered a financial discrepancy of over $240 million in Zee Entertainment Enterprises' accounts. This comes as another setback for the media company, following the collapse of its merger with Sony Group Corp's India unit. SEBI's investigation revealed that around $241 million may have been redirected from the company, significantly more than initially estimated. Zee Entertainment's CEO, Punit Goenka, is facing challenges in reassuring investors after the failed merger, and the company is reportedly considering reviving the merger with Sony.
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Tata mulls battery business spinoff; to expand EV, renewable energy segments
Livemint
·
1y ago
Medial
Tata Group is considering spinning off its battery business, Agratas Energy Storage Solutions, as an independent unit. This move aims to raise funds and potentially take the battery business public in Mumbai. Agratas designs and manufactures batteries for the automotive and energy sectors, with Tata Motors and Jaguar Land Rover as its anchor customers. Tata Motors is also exploring a spinoff for its electric vehicle (EV) business in the future. The valuation of Agratas could reach $5 to $10 billion depending on its growth and market sentiment.
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Is Apple buying Intel? Rumours of a deal crop up
Economic Times
·
9m ago
Medial
Rumors have surfaced suggesting that Apple may be considering acquiring chipmaker Intel. Speculation about a potential takeover has been discussed on a YouTube channel called 'Moore's Law is Dead'. The report also mentions that Samsung is interested in acquiring or merging with Intel. Apple had previously acquired Intel's modem division in 2019, but this report suggests a full-scale takeover. Intel has been facing challenges in the highly competitive chip manufacturing industry, with its profit margins shrinking and struggles in the AI chip market. However, it's important to note that these are just rumors at this stage.
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Zee withdraws Sony merger application with national company tribunal
VCCircle
·
1y ago
Medial
Zee Entertainment Enterprises has withdrawn its application to force Sony to merge its India unit with the company. The move allows Zee to focus on pursuing its claims against Sony through ongoing arbitration proceedings at the Singapore International Arbitration Center. Sony cancelled the $10bn merger in January due to Zee failing to meet certain financial terms and provide a plan to address them.
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Sony vows growing India media presence in letter to employees
Livemint
·
1y ago
Medial
The head of Sony Group's India unit, N.P. Singh, has sent a letter to employees, assuring them of the company's strength and growth despite the failed merger with Zee Entertainment Enterprises Ltd. Singh stated that Sony will focus on content to boost subscriber growth and revenue in India. Sony is also exploring options to strengthen its market presence through collaborations. This comes as Sony faces competition from rivals like Disney and Reliance Industries in the Indian media market.
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Kaynes Buys Land In Gujarat To Build Chip Plant, Eyes Investment Of INR 5,000 Cr
Inc42
·
11m ago
Medial
Electronics manufacturer Kaynes Technology has purchased land in Gujarat's Sanand to establish an outsourced semiconductor assembly and test (OSAT) unit. The company plans to invest INR 5,000 crore ($596 million) in its chip project. Kaynes will continue to operate its Telangana unit, maintaining a couple of chip assembly lines there, while the advanced chip assembly and test project will operate from Gujarat.
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Zee-Sony merger fallout: Zee can go to India tribunal to enforce merger deal
Livemint
·
1y ago
Medial
Zee Entertainment is now free to pursue the enforcement of a $10 billion merger deal with Sony's Indian unit through an Indian tribunal, after Sony's emergency petition to halt the merger was rejected by the Singapore International Arbitration Centre (SIAC). Sony had terminated the merger deal on January 22, alleging breaches of contract. Zee is now seeking an order from the Indian tribunal to compel Sony to fulfill its obligations. The proposed merger aimed to create one of India's largest TV broadcasters. Sony plans to contest the matter before a full SIAC tribunal.
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Semiconductor mission may Get $10billion booster shot
Economic Times
·
10m ago
Medial
The Indian Semiconductor Mission may receive a second budgetary allocation of up to $10 billion. This funding will be needed if the government approves a chip fabrication unit by Israeli firm Tower Semiconductor and the Adani Group, as well as other proposed projects currently under evaluation. The first phase of the Indian Semiconductor Mission has already exhausted its initial funds, including approvals for a chip fabrication unit by the Tata Group. The Maharashtra state government has recently approved a $10 billion semiconductor fab unit by Adani Group and Tower.
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Marvell wins new AI chip business, but at lower margins
Economic Times
·
1y ago
Medial
Marvell Technology has secured new business partnering with major US-based cloud computing companies to develop custom chips for artificial intelligence (AI). However, Marvell noted that this custom chip unit has lower profit margins compared to its other lines of business. Despite this, Marvell expects the AI chip business to generate $2.5 billion in sales by 2026. Marvell competes with companies like Broadcom and is developing AI chips for multiple customers to be released in the coming years. The profitability of Marvell's custom chip unit is being closely monitored by investors as it competes with industry leader Nvidia.
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