Who is the ceo of dish tv

FY22 was "not the smoothest year" for the company and it faced "challenges, both on the corporate and business front", said Dish TV Group CEO Anil Kumar Dua in the latest annual report of the company. "Notwithstanding difficulties, the company continued to keep up with the times and remains optimistic about its capabilities to stay as one of the most relevant players in the content delivery space in India," said Dua while addressing shareholders of the company.

Table of Contents Show

The company released the first two episodes of "The Lord of the Rings: The Rings of Power" on its streaming service in more than 240 countries and territories on Friday. Amazon did not say whether the viewers it counted had watched all or part of ...
An initial Competition Commission of India (CCI) review has flagged concerns, Reuters reported, arguing the group would have "unparalleled bargaining power" with 92 channels coupled with Sony's $86 billion in global revenues.
Gupta holds an MPhil from the Delhi School of Economics and a PhD in Banking and Financial Support Services from the Indian Institute of Technology-Delhi.
The Adani conglomerate run by India's richest man, Gautam Adani, last week unveiled plans to acquire a majority stake in the news network, seen as bastion of independent media.
The income tax department in 2017 provisionally barred the founders - Prannoy and Radhika Roy - from selling a part of their stake as part of a reassessment of their taxes, NDTV said in an exchange filing late on Wednesday.
The Competition Commission of India's (CCI) Aug. 3 notice to the two companies stated the watchdog is of the view that a further investigation is merited in the case. Sony and Zee in December decided to merge their television channels, film assets...

Its largest shareholder Yes Bank Ltd (YBL) and the promoter family led by its chairman Jawahar Lal Goel were locked in a legal battle over board representation in Dish TV. YBL, having over 24 per cent share, was pushing for reconstitution of the Dish TV board and removal of Goel along with some other persons.

In Its AGM held on December 30, 2021, Dish TV shareholders rejected all three proposals, including the adoption of financial statements and the reappointment of Ashok Mathai Kurien as director.

Dish TV had not declared the outcome of voting at its 33rd AGM due to the ongoing litigations. It was later directed to disclose the results by the capital markets regulator Sebi.

Earlier in June this year, the shareholders in an Extraordinary General Meeting (EGM) had rejected the proposal for reappointment of Goel as managing director and Dua as a whole-time director of the company, following which both had to vacate their office.

On August 30, Dish TV in a regulatory filing said its chairman Jawahar Lal Goel will vacate his position at the company's upcoming AGM on September 26, 2022. Goel, whose proposal for reappointment as managing director was rejected by the shareholders in the EGM in June this year, has not reapplied for continuation as chairman.

In the annual report, Dua said Dish TV's subscription revenues were lower in FY22 due to the volatile viewing habits of the consumers and the company is looking beyond its contemporary offerings of hybrid boxes and OTT platforms.

Dish TV, which saw its Average Revenue Per User (ARPU) declined last fiscal, is exploring newer possibilities that would make its service bouquet more appealing to the audience, said Anil Kumar Dua.

"The media and entertainment space in India is witnessing a change in landscape with the growing number of content delivery platforms and viewing options available to consumers," he said. Now consumers have a choice with over 850 channels in the linear space and over 40 big and small OTT platforms laden with movies, TV shows, web series, time-shifted content etc. Now entertainment watching has also spiked to almost 4.5 hours per day per user as against 3.6 hours in 2018.

"Competition has also increased from free-to-air government-run distribution platforms and telcos. Fall in subscriber numbers is due to top-end subscribers alternating between DTH and streaming content and bottom-end subscribers often choosing free-to-air DTH over pay DTH," said Dua over the industry developments. Moreover, the popularity of DTH (direct-to-home) as a budget-friendly option is well maintained despite the many emerging alternatives in the market. "Dish TV appreciates the changing tastes and preferences of consumers and is on track to leverage these emerging trends considering that technology-driven evolution and related growth of the sector is inevitable," said Dua.

For the financial year ended on March 31, 2022, Dish TV India's operating revenues were at Rs 2,802.5 crore, the annual report said.

Page 2

Read on App

Amazon plans to let the full story unfold in 50 hours over five seasons.

Synopsis

The company released the first two episodes of "The Lord of the Rings: The Rings of Power" on its streaming service in more than 240 countries and territories on Friday. Amazon did not say whether the viewers it counted had watched all or part of ...

Amazon.com Inc said on Saturday that its pricey "Lord of the Rings" prequel series was watched by more than 25 million viewers around the world on its first day, a record debut for a Prime Video series.

The company released the first two episodes of "The Lord of the Rings: The Rings of Power" on its streaming service in more than 240 countries and territories on Friday. Amazon did not say whether the viewers it counted had watched all or part of the first and second episodes.

Future "Rings of Power" installments will be launched weekly until the Oct. 14 season finale. The series takes place in J.R.R. Tolkien's fictional Middle-earth at a time known as the Second Age, a period 4,000 years before the events in the "Lord of the Rings" and "The Hobbit" novels and films.

Amazon plans to let the full story unfold in 50 hours over five seasons.

The online retailer spent more than $465 million producing the show's first season, which was filmed in New Zealand, making it among the most expensive TV series ever produced and the most ambitious since Amazon jumped into original programming in 2013.

The company has received acclaim for shows such as "Transparent" and "The Marvelous Mrs. Maisel," but viewership for those series has not been disclosed.

Lord of the Ringprime videoamazonhobbitmaiselnew zealand

(Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)

Download The Economic Times News App to get Daily Market Updates & Live Business News.

Page 3

Read on App

The CCI has given Sony and Zee 30 days from Aug. 3 to respond to its notice.

Synopsis

An initial Competition Commission of India (CCI) review has flagged concerns, Reuters reported, arguing the group would have "unparalleled bargaining power" with 92 channels coupled with Sony's $86 billion in global revenues.

A full-scale antitrust review of plans to create a $10 billion media powerhouse in India by Japan's Sony and Zee Entertainment could force concessions and prolong the process by months at a critical moment for the Indian company.

An initial Competition Commission of India (CCI) review has flagged concerns, Reuters reported, arguing the group would have "unparalleled bargaining power" with 92 channels coupled with Sony's $86 billion in global revenues. The CCI has called for further investigation, highlighting the impact on competition due to the "strong" market position the merged entity would have over advertising and channel pricing, particularly in the popular Hindi language segment.

Shares in Zee fell 6% during trade on Thursday, a day after Reuters reported on CCI's assessment of the merger.

Zee did not respond to questions for this article, but has said it was continuing to take all required legal steps to complete the CCI approval. Sony did not respond to Reuters requests for comment. Ashok Chawla, a former CCI chairman, told Reuters that such a review could lead to a detailed merger analysis involving an examination of different broadcast offerings, delaying approval. Four antitrust lawyers told Reuters such a notice signalled deep CCI worries and was likely to force Sony and Zee to rethink their proposed structure, although none said it was likely to lead to a collapse of the deal.

Any potential delay, however, comes at a bad time for Zee, a household TV name in India set up in 1992 by Subhash Chandra, dubbed the "Father of Indian Television". Zee's founders had to dilute their stake in the Indian company to tackle their debt levels in 2019 and the Sony deal was struck amid a 2021 boardroom conflict with an overseas shareholder.

For Sony, the merger will further its ambitions to tap more digital, TV and regional language audiences in the fast-growing Indian market of 1.4 billion people. The lawyers said Sony and Zee may have to offer a "structural" remedy, which could involve selling some channels, and "behavioural" remedies such as giving commitments that they will not raise prices for advertisers for a certain period.

"They may have to let go of some channels by selling ... to third parties. This is CCI's preferred remedy to reduce threat to competition," said Shweta Dubey, a partner at Indian law firm SD Partners and a former official in the CCI's M&A division. "The whole approval process will be delayed significantly now, and will depend on how palatable proposed changes are to the CCI and how companies negotiate."

REMEDY RISK

The proposed remedies were likely to be "substantial", one source with direct knowledge of the antitrust concerns over the merger plan said, without elaborating.

In CCI's 13-year history, 22 deals had to be modified to gain approval. In 2015, for example, when Indian multiplex giant PVR Ltd sought to acquire a smaller rival's business, the watchdog raised concerns, forcing it to commit to selling some theatres and give assurances not to expand in some regions.

The CCI has given Sony and Zee 30 days from Aug. 3 to respond to its notice, but they are yet to submit their responses, said a second source with direct knowledge of the process. Analysts said the combined entity would reshape India's media and entertainment landscape, heating up competition with Netflix, Amazon and Walt Disney and with Indian billionaire Mukesh Ambani's Viacom18 joint venture with Paramount Global. Media companies are not just betting big on TV channels, but also on their video streaming platforms and sports rights.

Zee this week made another big move, entering into a licensing deal with Disney to purchase some cricket TV rights, which IIFL Securities estimates to be worth $1.5 billion.

In a research note, the brokerage said these payments should have been made partly by the fresh funds Sony planned to infuse into the merged entity and flagged concerns over any antitrust delay. "The biggest risk ... is the merger not going through and Zee being saddled with high content costs," IIFL said.

sony zee dealsonyzeezee entertainmentcciiifl securitiespvr ltd

(Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)

Download The Economic Times News App to get Daily Market Updates & Live Business News.

Page 4

Read on App

Synopsis

Gupta holds an MPhil from the Delhi School of Economics and a PhD in Banking and Financial Support Services from the Indian Institute of Technology-Delhi.

Senior Indian Information Service officer Vasudha Gupta assumed charge as the director general of the News Services division of the All India Radio (AIR) on Thursday. A 1989-batch IIS officer, Gupta has served in various capacities in the Ministry of Information and Broadcasting during her career spanning more than 32 years.

Before her appointment as the director general of the News Services division of the AIR, she served as the DG, Press Information Bureau (PIB). During her stint in the PIB, Gupta played a key role in implementing the government's communication strategies during the COVID-19 pandemic and also helmed the fact-checking unit to curb misinformation about the viral outbreak.

Gupta holds an MPhil from the Delhi School of Economics and a PhD in Banking and Financial Support Services from the Indian Institute of Technology-Delhi.

She was also instrumental in the introduction of social media platforms in regional languages through the AIR when she was posted as the additional director general in the All India Radio (News).

N Venudhar Reddy, a 1988-batch IIS officer, retired as the principal director general of the AIR after a 34-year-long career.

(Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)

Download The Economic Times News App to get Daily Market Updates & Live Business News.

Page 5

Read on App

Gautam Adani

Synopsis

The Adani conglomerate run by India's richest man, Gautam Adani, last week unveiled plans to acquire a majority stake in the news network, seen as bastion of independent media.

NDTV promoter group firm RRPR Holding has told VCPL, which along with two other Adani group firms has launched a hostile takeover bid for the media firm, that its stakeholding in NDTV has been provisionally attached by the I-T authorities and require their approval for the transfer. The contention has been rejected by the Adani group, which termed it as "misconceived and misleading" statements while asking RRPR Holding to convert the warrants into equity shares.

In a regulatory filing, NDTV said that its founders Radhika and Prannoy Roy have informed that RRPR Holding has intimated Adani group firm Vishvapradhan Commercial Pvt Ltd (VCPL) that the attachment of the shareholding, notified in 2018, shall remain in place until the completion of reassessment proceedings.The group has asked RRPR Holding (RRPRH) to withdraw the letter and alleged it was written with the intent to further inordinately delay the warrant conversion and to perform its obligations without any further delay.

RRPRH has communicated to VCPL that due to attachment, it will require approvals from the IT Authorities and "invited VCPL to join its application to the Income Tax Authorities", the filing stated.

"The IT Department attachment order of 2017 pertains to the loan agreement with VCPL in 2009, and is premised on RRPRH (allegedly) transferring its controlling interest in NDTV to VCPL for Rs.403.85 crore, culminating in an estimate of Rs175 crore "tax on capital gains arising on sale of controlling interest in NDTV to VCPL" on RRPRH," said NDTV.RRPRH also said the NDTV founders Radhika and Prannoy Roy may individually require independent approval from IT authorities "to deal with any assets, including indirect shareholding in NDTV, arising from sub judice order.''However, the Adani group said RRPR Holding's letter lacks bona fides and has "no merit or basis either in law or in fact and is misconceived".

"The IT Orders only apply to the shares of NDTV held by RRPR and in no manner restrict RRPR from completing the formalities in relation to allotment of equity shares to VCPL on the exercise of the warrants," said a regulatory filing from Adani Enterprises Ltd.

On August 23, Adani group announced the acquisition of a 29.18 per cent stake indirectly in NDTV through the acquisition of VCPL, which holds a 99.99 per cent stake in RRPR Holding.Following this, Adani group firms, Vishvapradhan Commercial Private Limited (VCPL) along with AMG Media Networks and Adani Enterprises Ltd, proposed to acquire an additional 26 per cent or 1.67 crore equity shares through an open offer.

VCPL also denied that the steps required to be taken by RRPR in terms of the warrant conversion notice dated August 23, 2022 "requires any prior approval from the Assessing Officer", as alleged, said Adani group."It is evident that the RRPR Letter has been issued with the intent to further inordinately delay and seek to justify RRPR's default in compliance with its obligation as set out in the Notice and completing the formal steps of allotment of equity shares of RRPR to VCPL," said Adani group.

Adani group had already announced to launch its open offer on October 17 for acquiring an additional 26 per cent stake in media firm NDTV.The open offer for acquiring 1.67 crore equity shares, for which a price of Rs 294 per share has been fixed, will tentatively close on November 1. If fully subscribed at a price of Rs 294 per share, the open offer will amount to Rs 492.81 crore.NDTV founder promoters have asserted that the deal cannot go ahead without Sebi's nod.In an order passed on November 27, 2020, the Securities and Exchange Board of India (Sebi) restrained NDTV founders -- Radhika Roy and Prannoy Roy -- from the securities market for two years and that period ends on November 26.As restrictions are still in force, prior written approval from Sebi was required for Vishvapradhan Commercial Private Limited (VCPL) for the exercise of the conversion option on the warrants, NDTV founders said.RRPR Holding Ltd and Adani group have approached Sebi, seeking clarity on the applicability of the regulator's earlier order regarding the conversion of warrants into shares, which has become a decisive factor in the hostile takeover battle for the media group.Though Adani group has already rejected NDTV's assertion saying that promoter entity RRPR Holding is not a part of the regulator's order that restrained Prannoy and Radhika Roy from accessing the securities market.On August 23, the Adani group announced to launch an open offer to buy an additional 26 per cent stake in the company, which operates three national news channels - English news channel NDTV 24x7, Hindi news channel NDTV India and business news channel NDTV Profit.NDTV had taken a loan of Rs 403.85 crore in 2009-10 and against this amount, warrants were issued by RRPR. With the warrants, VCPL had the right to convert them into a 99.9 per cent stake in RRPR in case the loan was not repaid.

Adani group first acquired VCPL and exercised the option to convert unpaid debt into a 29.18 per cent stake in the news channel company.

adani ndtv dealadani groupadanigautam adanindtvadani enterprises ltdndtv

(Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)

Download The Economic Times News App to get Daily Market Updates & Live Business News.

Page 6

Read on App

Synopsis

The income tax department in 2017 provisionally barred the founders - Prannoy and Radhika Roy - from selling a part of their stake as part of a reassessment of their taxes, NDTV said in an exchange filing late on Wednesday.

MUMBAI -New Delhi Television Ltd said a major stake sale by its founders to Adani group would require clearance from India's tax authorities, adding another hurdle to the conglomerate's bid to take control of the popular news network.

The income tax department in 2017 provisionally barred the founders - Prannoy and Radhika Roy - from selling a part of their stake as part of a reassessment of their taxes, NDTV said in an exchange filing late on Wednesday .

NDTV and Adani have locked horns in public after the conglomerate, run by India's richest man Gautam Adani, last week unveiled plans to control a majority stake in the news network seen as bastion of independent media.

Adani has tried to execute the takeover plan by acquiring a little-known Indian company, which gave 4 billion rupees ($50 million) in loans to NDTV's founders more than a decade ago in exchange for warrants that allowed it to buy a stake in the news group at any time.

Adani Group said last week it had exercised those rights, which NDTV said was done without its consent. NDTV said on Wednesday tax authorities were already reviewing whether the loans gave rise to an estimated capital gains tax of 1.75 billion rupees based on allegations that they amounted to a transfer of the controlling interest in the network. NDTV said it had invited the Adani group's company to join its application to the tax authorities for clarification. India's tax authorities and the Adani group did not immediately respond to requests for comment. NDTV is regarded by some as one of the few independent voices in India's rapidly polarising media landscape, and the takeover attempt has triggered concerns among journalists and politicians that a change of ownership could undermine its editorial integrity.

(Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)

Download The Economic Times News App to get Daily Market Updates & Live Business News.

Page 7

Read on App

Synopsis

The Competition Commission of India's (CCI) Aug. 3 notice to the two companies stated the watchdog is of the view that a further investigation is merited in the case. Sony and Zee in December decided to merge their television channels, film assets...

A merger between the Indian unit of Japan's Sony and Zee Entertainment to create a $10 billion TV enterprise will potentially hurt competition by having "unparalleled bargaining power", the country's antitrust watchdog found in an initial review, according to an official notice seen by Reuters.

The Competition Commission of India's (CCI) Aug. 3 notice to the two companies stated the watchdog is of the view that a further investigation is merited in the case. Sony and Zee in December decided to merge their television channels, film assets and streaming platforms to create a powerhouse in a key media and entertainment growth market of 1.4 billion people, challenging rivals like Walt Disney Co.

The CCI's findings will delay regulatory approval of the deal and could force the companies to propose changes to its structure, three Indian lawyers familiar with the process said. If that still fails to satisfy the CCI, it could lead to a prolonged approval and investigation process, they added.

Zee in a statement said it continues to take all the required legal steps to complete all the necessary approval processes for the proposed merger The CCI and Sony in India did not immediately respond to requests for comment. Representatives of Sony in Japan did not respond outside regular business hours.

sonyzeecciindiacompetition commission

(Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)

Download The Economic Times News App to get Daily Market Updates & Live Business News.

Page 8

Adani Group will launch its open offer on October 17 for acquiring an additional 26 per cent stake in media firm NDTV. The open offer for acquiring 1.67 crore equity shares, for which a price of Rs 294 per share has been fixed, will tentatively close on November 1, said an advertisement by JM Financial, which is managing the offer.

If fully subscribed at a price of Rs 294 per share, the open offer will amount to Rs 492.81 crore,

On August 23, Adani group announced to acquire a 29.18 per cent stake in NDTV through the acquisition of VCPL, which holds a 99.99 per cent stake in RRPR Holding.

Following this Adani group firms - Vishvapradhan Commercial Private Limited (VCPL) along with AMG Media Networks and Adani Enterprises Ltd - have proposed to acquire an additional 26 per cent or 1.67 crore equity shares.

Days after this announcement, NDTV's founder promoters asserted that the deal cannot go ahead without Sebi's nod.

In an order passed on November 27, 2020, the Securities and Exchange Board of India (Sebi) restrained NDTV founders -- Radhika Roy and Prannoy Roy -- from the securities market for two years and that period ends on November 26.

As restrictions are still in force, hence a prior written approval from Sebi was required for Vishvapradhan Commercial Private Limited (VCPL) for the exercise of the conversion option on the warrants, NDTV founders had said.

RRPR Holding Ltd and Adani group have approached Sebi, seeking clarity on the applicability of the regulator's earlier order regarding the conversion of warrants into shares, which has become a decisive factor in the hostile takeover battle for the media group.

Though Adani group has already rejected NDTV's assertion saying that promoter entity RRPR Holding is not a part of the regulator's order that restrained Prannoy and Radhika Roy from accessing the securities market.

Terming the contentions raised by RRPR Holdings as "baseless, legally untenable and devoid of merit", VCPL had said the holding firm is "bound to immediately perform its obligation and allot the equity shares" as specified in the Warrant Exercise Notice.

VCPL had said RRPR is not a party to the Sebi Order dated November 27, 2020, and the restraints do not apply to it. The Warrant Exercise Notice was issued by its subsidiary VCPL under a contract, which is binding on RRPR, it added.

On August 23, the Adani group announced to launch an open offer to buy an additional 26 per cent stake in the company, which operates three national news channels - English news channel NDTV 24x7, Hindi news channel NDTV India and business news channel NDTV Profit.

The key element behind the takeover bid is an unpaid loan that NDTV's promoter entity RRPR Holding Pvt Ltd had availed from VCPL.

NDTV had taken a loan of Rs 403.85 crore in 2009-10 and against this amount, warrants were issued by RRPR. With the warrants, VCPL had the right to convert them into a 99.9 per cent stake in RRPR in case the loan was not repaid.

Adani group first acquired VCPL from its new owner and exercised the option to convert unpaid debt into a 29.18 per cent stake in the news channel company.

The promoters of NDTV had claimed that they were completely unaware of the takeover until Tuesday and that it was done without their consent.