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...Sony has called off its merger with Zee Entertainment, ending its agreement with the Indian media group two years after striking an ambitious deal to create a $10bn entertainment powerhouse in the world’...
...Three directors also left Zee Entertainment last month. The Sony-Zee problems come as India’s competitive entertainment industry is in flux....
...Sony executives were optimistic that the deal between its Indian business and Zee would create a $10bn media powerhouse in one of the world’s most promising entertainment markets....
...It will extend Sony’s footprint in one of the world’s fastest-growing entertainment markets and present a formidable challenge to Disney Star, India’s largest TV network with more than 60 television channels...
...Three decades on, the Japanese entertainment giant is pursuing the same strategy in India’s Bollywood....
...The acquisition implies an enterprise value of £701mn for TRG, valuing the company at a multiple of around nine times adjusted earnings before interest, taxes, depreciation and amortisation....
...Fears of a default, especially given Dalian Wanda’s status as a well-known enterprise with an international footprint, added to concerns about wider contagion stemming from China’s property woes, with many...
...“I started the job after university, so you can imagine it has not been easy, but you need to be rational.”...
...Bankrolling diversity The billionaire family behind one of the biggest black-owned fortunes in the US has a plan for creating more racially diverse entertainment: targeting their ultra-wealthy peers, Bloomberg...
...For decades, the wealthy Jains have worked as a family to run the Times Group, one of India’s oldest and largest media enterprises....
...Beijing restricted large overseas investment sprees five years ago, especially in areas such as hotels, entertainment, real estate and sports clubs....
...Alibaba cited waning usage from edtech companies, which had their business model outlawed by Beijing, and online entertainment firms, which have faced tougher rules....
...Noel Corry, 56, who worked at soft drinks bottler Coca-Cola Enterprises UK Ltd (CCE), pleaded guilty to five counts of corruption between 2004 and 2013 for leaking confidential inside information to three...
...Zee TV, India’s second biggest media company by viewer numbers, operates a clutch of popular news and entertainment channels catering to India’s fast-growing Hindi entertainment market....
...“If you put Sony and Zee together, they’ll control a third of the Hindi entertainment market in India, which is very valuable to control....
...Microsoft’s takeover of Activision Blizzard at a $69bn enterprise value has spooked Sony investors. Shares in the Japanese entertainment group fell more than 10 per cent on Wednesday....
...It can change the whole way the entertainment sector works”....
...Sony could be bidding together with Zee Entertainment Enterprises, if they succeed in merging their India businesses as planned. Star is also expected to bid for the rights again....
...He’s always calm, rational and genuinely interested in the other perspective,” said one of the people. He does not have the forthright public persona of some other mining bosses either....
...Yet the fate of Spotify’s Chinese rival Tencent Music Entertainment is the one that could set a worrying precedent across industries....
...The UK won the auction for satellite broadband operator OneWeb with a joint $1bn bid with India’s Bharti Enterprises earlier this month....
...determined to transform itself into a big participant in Russia’s tech sector, with Herman Gref, its chief executive, saying it wanted to have an “ecosystem” offering consumers everything from streamed entertainment...
...Valued by some analysts at almost €3bn, the enterprise dates back to the early 19th century and was long a symbol of Germany’s manufacturing might....
...In a blog post, it said it would be focused now on “negotiating revenue-generating strategic partnerships” in the enterprise market....
...Beyond a desire for diversity, economics offers more rational reasons why it doesn’t make sense to source everything close to your doorstep....
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