Week at a glance: ZEE-Sony merger muddle; CMOs’ Charcha - Delhi; Goafest 2024

Sony terminates merger agreement with Zee

Culver Max Entertainment (CME) has officially issued a notice to Zee Entertainment Enterprises Ltd. (ZEEL) announcing the termination of the merger agreement dated December 22, 2021. Despite efforts to extend the end date as per the merger cooperation agreement, both parties were unable to reach an agreement before the January 21 deadline.

Merger termination: ZEE denies all assertions raised by Culver Max and BEPL

ZEEL, in a press release, said it categorically denies all the assertions raised by Culver Max and BEPL on the alleged breaches under the terms of the Merger Co-operation Agreement (MCA), including their claims for the termination fee. The Board of Directors noted that all efforts and steps were taken by ZEEL in line with the MCA, approved by its shareholders and all regulatory authorities.

Sony-Zee merger collapse exposes fault lines in M&A landscape

With Sony walking away, citing alleged breaches by ZEE, a series of legal battles and uncertainties now cloud the future of both companies. What will be the aftermath of this unexpected unraveling, its implications for ZEE and Sony, and the broader media industry, particularly in the face of the looming Reliance-Disney juggernaut? As legal claws sharpen and financial calculations are re-drawn, a question hangs heavy in the air: who will emerge victorious from this shattered billion-dollar dream?

NP Singh charts new course for Sony after Zee merger falls through

Culver Max Entertainment (formerly Sony Pictures Networks India), owned by Sony Group Corporation, is shifting gears in India following the dramatic collapse of its $10 billion merger deal with Zee Entertainment Enterprises Ltd (ZEEL). While the mega-merger aimed to create a powerhouse in Asia’s streaming market, NP Singh, CEO, Culver Max Entertainment, has expressed optimism about the road ahead for Sony.

Subhash Chandra appeals to Finance Minister over Sony merger: Reports

Zee Entertainment's founder, Subhash Chandra, made a last-ditch effort to salvage the company’s $10-billion merger with Sony Pictures by appealing directly to Finance Minister Nirmala Sitharaman, say media reports. In a letter sent a week before the deal's collapse on January 23rd, Chandra urged the minister to intervene and “safeguard the interest of Zee Entertainment's minority shareholders.”

Post merger collapse, legal battles begin with ZEE approaching NCLT

After categorically denying all the assertions raised by Culver Max Entertainment (formerly Sony Pictures Networks India) and Bangla Entertainment Pvt Ltd (BEPL) on the alleged breaches under the terms of the Merger Co-operation Agreement (MCA), including their claims for the termination fee, Zee Entertainment Enterprises Ltd has now approached the National Company Law Tribunal (NCLT) Mumbai as well as the Singapore International Arbitration Centre against Sony’s decision to terminate the merger deal.

It takes many milestones to conclude such deals successfully: Anupriya Acharya on Zee-Sony

When contacted on the Zee-Sony merger development, Anupriya Acharya, South Asia CEO, Publicis Groupe, noted, “M&A deals, especially those involving behemoths are complex and challenging because of the scale, and complexities. Plus, the two parties need to agree on the objectives of the M&A activity, shared vision and the future of the merged entity, cultural and integration issues, etc. Something that looks good on paper may not necessarily get concluded.”

Zee-Sony merger collapse to negatively impact both Cos: Karan Taurani

The termination of the proposed merger between Zee Entertainment Enterprises Limited and Sony Pictures Networks India is anticipated to have a negative impact on both the companies, says Karan Taurani, senior analyst, Elara Capital. According to him, both companies could face additional threats from the potential merger of Reliance Industries and Disney in the near term.

The PR Post – Adgully’s venture into the business of PR and Corporate Communications

The PR Post is the new star on the horizon. Launched by Adgully Network, The PR Post endeavours to highlight how PR and Corp Comm has assumed strategic importance for brands and companies today. It will cover the latest developments from the cutting edge of communications across the world. The PR Post seeks to be a platform for Public Relations professionals to gain insightful analysis of all the key areas of the industry and be a valuable resource to uplift their PR strategy game several notches higher.

Goafest 2024 to be held from 29th-31st May 2024

The 17th edition of Goafest, the biggest advertising festival in South Asia, is set to captivate the industry from the 29th to the 31st of May 2024 at the Grand Hyatt, Bambolim, Goa. Co-hosted by The Advertising Agencies Association of India (AAAI) and The Advertising Club, Goafest 2024 promises to be an exhilarating three-day extravaganza, showcasing the pinnacle of creativity, knowledge, and networking in the advertising, marketing, and media industry.

From fraud to fairness – Part 1: Can blockchain save digital advertising?

Digital advertising is not without its pitfalls; it is fraught with challenges like ad fraud (click farms, bots, domain spoofing, etc.), and the lack of transparency. The emergence of blockchain technology has the potential to significantly impact the digital advertising industry. Blockchain technology is increasingly considered a game-changer for digital advertising.

How Blockchain is revolutionising the ad landscape

Ad fraud is a persistent problem in the industry. Blockchain technology serves as a powerful tool against ad fraud as it helps advertisers trace interactions with their ads to prevent fraudulent activities.

Eyes set on future roadmap for growth at CMOs’ Charcha - Delhi Chapter 2024 today

Adgully is all set to hold its premier Marketing event, CMOs’ Charcha – Delhi Chapter 2024, today, January 23, at Radisson Blu Plaza in Mahipalpur, New Delhi, from 11 AM onwards. The event, whose theme is ‘Future roadmap for pursuing growth in new ways’, will be a gathering of the most distinguished marketing leaders from across industries.

Narayan Devanathan explores new intersections of intelligence and imagination

Adgully’s premier Marketing event, CMOs’ Charcha – Delhi Chapter 2024, took place on January 23, at Radisson Blu Plaza in Mahipalpur, New Delhi. Narayan Devanathan, Group Chief Strategic Advisor, dentsu India, delivered a keynote address on Back to the future - New Intersections of Intelligence and Imagination.

Marketing in the Era of AI & CGI – Experts weigh in challenges & potential

Adgully’s premier Marketing event, CMOs’ Charcha – Delhi Chapter 2024, took place on January 23, at Radisson Blu Plaza in Mahipalpur, New Delhi. The event saw an engaging panel discussion on ‘Marketing in the Era of AI & CGI’, which featured distinguished industry leaders, including Session Chair: Sonali Krishna, Senior Editor at Times Network; Ruchira Jaitly, Chief Marketing Officer at Diageo India; Sachin Vashishtha, Chief Marketing Officer at Paisabazaar; Suryadeep Verma, SVP & Chief Marketing Officer at Comviva Technologies; and Satyabrata Das, Chief Alliance Officer, Laqshya Media.

Navigating the complexities of crisis management in the Digital Age

Adgully’s premier Marketing event, CMOs’ Charcha – Delhi Chapter 2024, took place on January 23, at Radisson Blu Plaza in Mahipalpur, New Delhi. The event saw an engaging panel discussion on ‘Navigating Crisis Communications in the Digital Age’, which featured distinguished industry leaders, including Session Chair: Nandini Chatterjee, Former Chief Marketing and Communications Officer, PWC; Aakriti Thakur, AVP - Brand & Marketing, Healthians; Jasrita Dhir, Director - Marketing and Communications, Karkinos Healthcare; Juhie Gorwara, Director - Brand, Communication, Digital, Philips Indian Subcontinent; Manu Kumar, Head-Marketing and Corporate Communications, Hero Electric Vehicles; Nishita Sharma, Lead, Communications, Marketing, and Advocacy, UNICEF.

Accelerating Marketing Transformation: Winning in an evolving consumer environment

CMOs’ Charcha – Delhi Chapter 2024 was organised by Adgully on January 23. The event saw an interesting panel discussion on ‘Accelerating Marketing Transformation: How To Win in Today’s Evolving Consumer Environment’, which brought together prominent industry leaders to share their perspectives. Chaired by Mansi Bhatia, Chief Business Officer, Shoogloo, the eminent panelists included Charu Malhotra, Chief Brand Officer, APL Apollo Steel Tubes; Kush Aggarwal, Marketing Head, Bikano, Bikanervala Foods; Satish Shukla, Co-Founder and CMO, Addverb; and Satyabrata Das, Chief Alliance Officer, Laqshya Media, who provided a diverse range of perspectives.

How PR can catch the GenZ vibe?

In the rapidly evolving landscape of public relations (PR), connecting with Generation Z (GenZ) has become a paramount challenge for brands and communication professionals. This dynamic demographic, born between the mid-1990s and 2010, is characterised by its digital-first mindset, tech-savviness, and a strong emphasis on authenticity.

How Mia by Tanishq has grown the 14k and 18k jewellery market in India

In conversation with Adgully, Rajiv C Menon, National Head – Sales and Retail Operation, Mia by Tanishq, speaks about the growth of the brand, the challenge of popularising 14kt gold in a country where gold is looked as an investment, making the brand more sustainable, future vision, and more.

How Shalimar Paints is weaving a compelling narrative around ‘Upgradation’

With the vision to build a brand for the new era, Shalimar Paints has committed to the ideology for ‘Upgradation’. Building on the same, the brand has also launched a new campaign “Upgrade Kiya Kya”. In conversation with Adgully, Kuldip Raina, Director - Sales & Marketing, Shalimar Paints, sheds more light on “Shalimar Paints 2.0: Upgradation in the New Era” drive.

Publicis flexes AI muscles, rolls out 300 mn Euros investment over three years

Six years after shifting from a platform, Publicis Groupe is putting AI at its core to become the industry’s first Intelligent System. Publicis plans to invest 300 million euros over the next three years as it becomes a true Intelligent System. For 2024 alone, the group anticipates an investment of 100 million euros, with 50% on people, focused on upskilling, training and recruitment, and 50% on technology, through licenses, IT software and cloud infrastructure.

Post acquisition by Anish Daryani, M&C Saatchi Indonesia rebrands as Moonfolks

Following Anish Daryani’s acquisition of M&C Saatchi Indonesia, the agency has rebranded itself as Moonfolks, effective January 24, 2024, on the agency’s 6th anniversary. Moonfolks will be led by its co-founders, Anish Daryani (President Director and CEO), Dami Sidharta (Chief Creative Officer), and Elki Hendra (Chief Strategy & Digital Officer).