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News on Medial
Sony appoints former Walt Disney exec to head India business
VCCircle
·
1y ago
Medial
Sony has appointed Gaurav Banerjee, a former Walt Disney executive, as the new chief executive for its businesses in India. Banerjee, who was previously heading content for Disney's streaming platform, Hotstar, and business for its Hindi-speaking TV channels, is set to take on the role in about two months. Sony operates 26 channels in India and offers a streaming service as well. This move comes as Sony seeks a successor for its current India CEO and after the company abandoned a planned merger with Zee Entertainment.
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Fino payments bank ropes in former Xerox India exec Rajat Kumar Jain as chairman
Inc42
·
1y ago
Medial
Mumbai-based Fino Payments Bank has appointed Rajat Kumar Jain, former managing director of Xerox India and Walt Disney India, as its part-time chairman. Jain, an alumnus of IIT Delhi and IIM Ahmedabad, brings over three decades of leadership experience across various sectors. Fino Payments Bank is currently focusing on its digital growth plans and targets for the next phase. Jain's appointment comes as the bank aims to evolve into its new digital avatar, Fino 2.0.
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Reliance, Disney to merge India media assets to create $8.5 billion powerhouse
Reuters
·
1y ago
Medial
Reliance Industries and Walt Disney have announced a merger of their India TV and streaming media assets, creating an $8.5 billion entertainment company. Reliance will invest $1.4 billion in the merged entity, giving it a majority stake of over 63%, while Disney will hold about 37%. The merger aims to help Disney revive its struggling India streaming business and ease its financial strain. The combined entity will be led by Nita Ambani, wife of Reliance Chairman Mukesh Ambani, and former top Disney executive Uday Shankar as the vice chair.
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Xiaomi India Ropes In Ex-Motorola Exec Sudhin Mathur As COO
Inc42
·
11m ago
Medial
Sudhin Mathur has been appointed by Xiaomi India as its new head of business development. With his extensive experience in the consumer tech industry, including leadership roles at Sony Ericsson, LG Electronics, and Lenovo India, Mathur is expected to drive Xiaomi India's growth agenda. This appointment comes as Xiaomi plans to increase exports of its made-in-India devices and aims to ship 70 crore devices over the next decade.
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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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National Investment and Infrastructure Fund appoints former Actis exec as MD & CEO
VCCircle
·
1y ago
Medial
The National Investment and Infrastructure Fund (NIIF) has appointed Sanjiv Aggarwal, former Asia head for energy investments at private equity firm Actis, as its managing director and CEO. Aggarwal will assume his new role on 1 February and take over from interim head Rajiv Dhar. NIIF is a quasi-sovereign fund of the Indian government and focuses on investing in infrastructure and other sectors. Aggarwal's appointment comes after the exit of the former MD and CEO Sujoy Bose, who stepped down in September 2022.
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Sony Pictures Networks India appoints Disney Star’s Gaurav Banerjee as MD, CEO
Livemint
·
1y ago
Medial
Sony Pictures Networks India (SPNI) has appointed Gaurav Banerjee as its new managing director and chief executive, taking over from NP Singh. Banerjee, who previously served as head of content for Hindi entertainment and Disney+ Hotstar, will lead teams in exploring new frontiers in original programming, enhancing viewer experiences, expanding distribution, and boosting revenues. Singh will continue as non-executive chairman until the end of the fiscal year to support the transition. Ravi Ahuja, chairman of Global Television Studios, expressed confidence in Banerjee's ability to continue driving SPNI's success.
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Disney-owned Star India begins arbitration against Zee Entertainment
Livemint
·
1y ago
Medial
Star India, a subsidiary of Walt Disney, has initiated arbitration proceedings against Zee Entertainment Enterprises. The dispute stems from an alleged breach of a cricket broadcasting agreement between the two companies. This comes after Zee terminated a deal with Sony for broadcasting ICC men's and under-19 tournaments. Zee claims that Star India violated the agreement and has filed a claim for ₹685.4 million ($8.3 million). Zee Entertainment disagrees with Star's claims and plans to file a response and counterclaims. This follows the failed merger between Zee and Sony.
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Disney gambles on free cricket to turn the tables in India streaming war
Reuters
·
1y ago
Medial
Walt Disney is attempting to revive the fortunes of its streaming business in India by offering free cricket on smartphones, betting that the strategy will boost advertising revenue and offset the impact of a subscriber exodus.
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Sony may call off $10 billion mega-merger with Zee Entertainment
Livemint
·
1y ago
Medial
Sony Group Corp. is reportedly set to cancel its merger agreement with Zee Entertainment Enterprises Ltd., citing a standoff over the leadership of the merged entity. The Japanese conglomerate no longer wants Zee's CEO Punit Goenka, who was originally slated to lead the new company, amid a regulatory probe. Sony plans to file a termination notice before the January 20 deadline for closing the deal. The scuttling of the deal leaves Zee vulnerable and comes as Mukesh Ambani's Reliance Industries is in talks to merge with Walt Disney Co.'s India unit.
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RIL, Disney merge assets to create ₹70,352 crore media giant; 5 key highlights
Livemint
·
1y ago
Medial
Billionaire Mukesh Ambani's Reliance Industries Limited (RIL) and global media giant Walt Disney have signed definitive agreements to merge their media operations in India, forming a media behemoth valued at ₹70,352 crore. The merger will see the media undertaking of Viacom18 integrated into Star India. Nita M Ambani will chair the board of the combined entity and Uday Shankar, former Disney executive, will serve as vice chairman. Reliance will invest ₹11,500 crore into the joint venture to expand its over-the-top (OTT) business. The merged entity will have over 100 channels, two leading OTT platforms, and a viewer base of 750 million in India.
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