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Neutral Zee Entertainment Ltd For Target Rs. 145 By Motilal Oswal Financial Services Ltd Cost controls bear fruit; ad revenue recovery vital for re-rating * Zee Entertainment’s (Zee) revenue continued the declining trend as 2QFY25 revenue fell 18% YoY (5% miss) on softer advertising revenue (- 8% YoY, 1% miss) and lower revenue from other sales and services (-77% YoY on a high base (2QFY24 boosted by Gadar 2 release). * However, Zee’s strong control over costs and a further reduction in Zee5 losses led to 18%/15% QoQ jump in EBITDA/adj. PAT (21%/35% beat). * ...
Neutral Zee Entertainment Ltd For Target Rs. 145 By Motilal Oswal Financial Services Ltd
Neutral Zee Entertainment Ltd For Target Rs. 145 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services
2024-10-31 05:32:50 pm
Reduce Zee Entertainment Ltd For Target Rs. 140 By Emkay Global Financial Services Zee reported a mixed operating performance in Q2FY25. Advertising revenue growth remained underwhelming, declining by another 7.9% YoY. Ad revenue has now declined (YoY) in last eight of the nine quarters. Subscription revenue saw an uptick of 9.2% YoY. Margins surprised positively as Zee contained expenses across the board. Management stated that advertising environment has picked up in September in the run-up to the festive season, although longterm spending trend remains uncertain as of no...
Reduce Zee Entertainment Ltd For Target Rs. 140 By Emkay Global Financial Services
Reduce Zee Entertainment Ltd For Target Rs. 140 By Emkay Global Financial Services
Source: Emkay Global Financial Services Ltd
2024-10-22 02:18:34 pm
Mukta Arts soars on executing assignment agreement with Zee Entertainment Mukta Arts is currently trading at Rs. 93.52, up by 12.61 points or 15.59% from its previous closing of Rs. 80.91 on the BSE. The scrip opened at Rs. 85.99 and has touched a high and low of Rs. 96.80 and Rs. 84.20 respectively. So far 20656 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 98.35 on 15-Jan-2024 and a 52 week low of Rs. 61.00 on 03-Jun-2024. Last one week high and low of the scrip stood at Rs. 96.80...
Mukta Arts soars on executing assignment agreement with Zee Entertainment
Mukta Arts soars on executing assignment agreement with Zee Entertainment
Source: Accord Fintech
2024-09-25 10:18:41 am
Buy Zee Entertainment Ltd For Target Rs. 170 By JM Financial Services ZEEL’s 1QFY25 revenues grew 7.5% YoY, ahead of expectations. Construct of the beat was however mixed. Ad revenues (-3%) were softer than anticipated, as general elections and cricket weighed on GEC’s viewership. Subscription revenues growth (+9%) held up. Other sales and services (+71%) drove the beat. Bigger surprise, however, came on the margin front (+275bps QoQ) as the company demonstrated steady progress across its stated objectives. Zee5 losses declined by a third as the com...
Buy Zee Entertainment Ltd For Target Rs. 170 By JM Financial Services
Buy Zee Entertainment Ltd For Target Rs. 170 By JM Financial Services
Source: JM Financial Services
2024-08-07 10:45:49 am
REDUCE Zee Entertainment Ltd. for Target Rs. 150 - Emkay Global Financial Services Making an arduous turnaround effort; upgrade to REDUCE In the aftermath of Zee’s merger breakoff with Sony, the Management and Board of the company have embarked on a comprehensive plan to help regain its lost glory, and announced multiple initiatives. Though Zee saw superior performance over FY13-19, such execution would be difficult to replicate, given the altered industry dynamics/competitive scenario. Near-term performance is likely to worsen due to such interventions, before Com...
REDUCE Zee Entertainment Ltd. for Target Rs. 150 - Emkay Global Financial Services
REDUCE Zee Entertainment Ltd. for Target Rs. 150 - Emkay Global Financial Services
Source: Emkay Global Financial Services
2024-06-27 05:15:05 pm
Downgrade to Neutral Zee Entertainment Ltd. For Target Rs.200 By Motilal Oswal Financial Services Sony terminates merger with Zee Fallout of merger After more than two years of deliberation, Sony has terminated its merger cooperation agreement (MCA) with Zee and sought a termination fee of USD90m from the company for an alleged breach of the MCA. Zee has said that it would evaluate all its options, including a legal action. Surprisingly, it has mentioned that Mr. Punit Goenka, Zee’s MD and CEO, had agreed to step down, a key bone of contention between the two parties. As a res...
Downgrade to Neutral Zee Entertainment Ltd. For Target Rs.200 By Motilal Oswal Financial Services
Downgrade to Neutral Zee Entertainment Ltd. For Target Rs.200 By Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
2024-03-29 09:42:12 am
Reliance, Disney to merge India media assets to create $8.5 billion powerhouse India's top conglomerate Reliance Industries and Walt Disney on Wednesday announced the merger of their India TV and streaming media assets, creating an $8.5 billion entertainment juggernaut far ahead of rivals in the world's most populous nation. Reliance, led by Asia's richest man Mukesh Ambani, will inject $1.4 billion in the merged entity, with the company and its affiliates holding a more than 63% stake, with Disney owning the rest, the companies said in a joint statement....
Reliance, Disney to merge India media assets to create $8.5 billion powerhouse
Reliance, Disney to merge India media assets to create $8.5 billion powerhouse
Source: Reuters
2024-02-29 09:13:13 am
India`s Zee Entertainment seeks to revive $10 billion merger with Sony, ET reports India's Zee Entertainment is making a final attempt to restart discussions with Japan's Sony Group to revive their $10 billion merger deal which was scrapped on Jan. 22, Indian business daily Economic Times reported on Tuesday, citing people aware of the matter. Representatives from both parties have been working to salvage the deal, with efforts to revive the merger gaining momentum over the past two weeks, the report added. However, there is a chance that the discussions might...
India`s Zee Entertainment seeks to revive $10 billion merger with Sony, ET reports
India`s Zee Entertainment seeks to revive $10 billion merger with Sony, ET reports
Source: Reuters
2024-02-20 10:06:52 am
Zee Entertainment Q3 revenue falls on weak advertising demand India's Zee Entertainment reported a lower third-quarter revenue on Tuesday due to weak advertising demand and the broadcaster said it expects certain costs related to its failed merger with Sony India. Zee's operating revenue fell 3% to 20.46 billion Indian rupees ($246.27 million) for the quarter, while expenses rose 5.4%. The company's profit, however, more than doubled to 585 million rupees from a year earlier when the company had some merger-related costs. The result...
Zee Entertainment Q3 revenue falls on weak advertising demand
Zee Entertainment Q3 revenue falls on weak advertising demand
Source: Reuters
2024-02-14 09:02:24 am
Singapore arbitrator lets Zee go to India tribunal to enforce Sony merger deal -Zee A Singapore arbitrator agreed to let Zee Entertainment ask an Indian tribunal to enforce a $10 billion merger with Sony's India unit that was scrapped by the Japanese firm, Zee said on Sunday. The emergency arbitrator denied Sony's application for emergency interim relief, saying it had no jurisdiction or authority to block Zee from approaching the Indian tribunal, the Indian media company said in filings to India stock exchanges. Sony scrapped the merger on Jan. 22, ending a de...
Singapore arbitrator lets Zee go to India tribunal to enforce Sony merger deal -Zee
Singapore arbitrator lets Zee go to India tribunal to enforce Sony merger deal -Zee
Source: Reuters
2024-02-04 04:58:12 pm
Sony scrapped $10 billion India merger as Zee failed to meet financial terms Sony scrapped the $10 billion merger of its Indian arm with Zee Entertainment in part because Zee failed to meet some financial terms of the deal and come up with a plan to address them, according to a termination notice reviewed by Reuters. India's Zee denied the allegations in a letter to Sony, also reviewed by Reuters, and accused the Japanese company of "bad faith" in calling off the merger. A Zee-Sony merger in India would have created a media powerhouse in the world&...
Sony scrapped $10 billion India merger as Zee failed to meet financial terms
Sony scrapped $10 billion India merger as Zee failed to meet financial terms
Source: Reuters
2024-01-30 09:38:24 am
Zee founder family to eventually lift stake to 26% - Mint Zee Entertainment founder Subhash Chandra's family will eventually lift their stake in the media house to 26% from 4% currently, Mint reported on Monday, days after a merger with Sony's India unit collapsed. Japan's Sony terminated a $10 billion merger deal with the Indian broadcaster last week after two years of negotiations, seeking $90 million in termination fees from Zee for alleged breaches of the terms of the agreement, which Zee has denied. "I have advised my imm...
Zee founder family to eventually lift stake to 26% - Mint
Zee founder family to eventually lift stake to 26% - Mint
Source: Reuters
2024-01-29 10:15:00 am
Zee`s stock valuation will likely de-rate: CLSA  Zee Entertainment’s (Zee) proposed merger with Sony after required regulatory and shareholder approvals has been called off. With the merger terminated, Zee’s valuation will likely decline to 12x PE levels (Aug-21) seen prior to the merger announcement, foreign brokerage CLSA said in a report. The stock had de-rated in the past during the promoter share pledging crisis (in 2019) and fall in business cash conversion. “We D/G Zee from BUY to SELL on a revised TP...
Zee`s stock valuation will likely de-rate: CLSA
Zee`s stock valuation will likely de-rate: CLSA
Source: IANS
2024-01-23 10:56:54 am
Analysts recommend selling India`s Zee after failed Sony merger At least five brokerages said investors should sell Zee Entertainment's stock as the Indian broadcaster's failed $10 billion merger deal with Sony India raised concerns about its survival in an increasingly competitive industry. The collapse of the two-year-long talks on Monday to create one of India's biggest TV broadcasters creates more uncertainty for cash-strapped Zee, in particular with Disney seeking to merge its Indian businesses with the media assets of billionaire Muke...
Analysts recommend selling India`s Zee after failed Sony merger
Analysts recommend selling India`s Zee after failed Sony merger
Source: Reuters
2024-01-23 09:10:37 am
Zee says committed to $10 billion merger with Sony India India's Zee Entertainment said on Tuesday it was committed to its merger with Sony's local arm, after media reports said the Japanese firm was planning to scrap the $10 billion deal. Zee said reports of the deal falling through were "baseless and factually incorrect," and that it continues to work towards closing the deal. Sony plans to file a termination notice before the Jan. 20 deadline to close the deal over an impasse on whether Zee CEO Punit Goenka, who is facing...
Zee says committed to $10 billion merger with Sony India
Zee says committed to $10 billion merger with Sony India
Source: Reuters
2024-01-09 01:59:05 pm
Zee Entertainment shares down 8% after reports of Sony planning to call off merger Zee Entertainment shares were down 8 per cent on Tuesday after reports that Sony is planning to call off the proposed merger. Zee Entertainment shares are trading at Rs 254, down 8.3 per cent on BSE. According to media reports, Sony India is close to calling off the merger with Zee Entertainment. Sony is likely to issue a termination notice by January 20 and now the decision on who would be at the helm of the merged company is the contentious issue, according to these reports. Aft...
Zee Entertainment shares down 8% after reports of Sony planning to call off merger
Zee Entertainment shares down 8% after reports of Sony planning to call off merger
Source: IANS
2024-01-09 12:49:19 pm
India`s Zee falls on report Sony plans to call off $10 billion merger  Shares of India's Zee Entertainment fell 10% in early trade on Tuesday, a day after Bloomberg reported that Japan's Sony was planning to scrap the $10 billion merger of its India unit with the broadcaster.
India`s Zee falls on report Sony plans to call off $10 billion merger
India`s Zee falls on report Sony plans to call off $10 billion merger
Source: Reuters
2024-01-09 09:28:34 am
Sony plans to call off $10 billion merger With India`s Zee - Bloomberg News Japan's Sony is planning to scrap the merger of its Indian unit with Zee Entertainment, more than two years after the deal was announced, over a disagreement on who will lead the $10 billion entity, Bloomberg News reported on Monday. Sony plans to file a termination notice before the extended Jan. 20 deadline to close the merger, Bloomberg reported, citing people familiar with the matter. It added that discussions between Sony and Zee were still ongoing. Zee and Sony did not immedia...
Sony plans to call off $10 billion merger With India`s Zee - Bloomberg News
Sony plans to call off $10 billion merger With India`s Zee - Bloomberg News
Source: Reuters
2024-01-08 04:45:30 pm
Buy Zee Entertainment Enterprises Ltd For Target Rs.390 - JM Financial Institutional Securities Ltd ZEEL’s 2QFY24 headline numbers exceeded expectations. Revenues grew by 20% YoY, ahead of JMFe: 11%. Growth construct was however on expected lines. Ad-revenues growth (-3% YoY) remained weak. Subscription revenues (+8% YoY) sustained momentum supported by post NTO 3.0 price hikes. Other sales and services revenue was strong, as anticipated. But extent of uptick (c.3x YoY) surprised positively. Stable non-OTT EBITDA margins (-80bps QoQ) suggests margin uplift (+585bps QoQ) was not owing ...
Buy Zee Entertainment Enterprises Ltd For Target Rs.390 - JM Financial Institutional Securities Ltd
Buy Zee Entertainment Enterprises Ltd For Target Rs.390 - JM Financial Institutional Securities Ltd
Source: JM Financial Institutional Securities Ltd
2023-12-11 04:25:48 pm
India tribunal lifts ban on Zee`s Goenka on holding key positions An Indian tribunal on Monday lifted the ban on Zee Entertainment top boss  to hold board positions in any of the four Zee Group companies, paving the way for him to resume the proposed role in the planned merger between ZEE and the Indian unit of Japan's Sony Group. Shares of Zee Entertainment rose as much as 3.7% post the order. India markets regulator, Securities Exchange Board of India (SEBI), in August, had barred Goenka and Zee Group Chairman Subhash Chandra from holding p...
India tribunal lifts ban on Zee`s Goenka on holding key positions
India tribunal lifts ban on Zee`s Goenka on holding key positions
Source: Reuters
2023-10-30 03:48:35 pm
Sony merger with Zee delayed further The merger of Sony Pictures, a subsidiary of Japan?s Sony Group, with Zee Entertainment has been delayed further by a few months.?Although the transaction was previously expected to close by the end of the first half of the fiscal year ended on March 31, 2024, based on the latest progress, it is currently expected to close in the months ahead. Sony continues to assess the impact of the transaction on its consolidated financial results," Sony said in a statement.?Both companies continue to pro...
Sony merger with Zee delayed further
Sony merger with Zee delayed further
Source: IANS
2023-09-30 09:45:58 am