Sony-Zee Merger Delayed – Global Bulletin
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MEGA MERGER
The proposed merger between Indian powerhouse Zee Entertainment Enterprises and Sony‘s Indian TV businesses, which has been nearly two years in the making, is likely to be delayed further, Sony said in a filing on Friday. The companies cleared a key regulatory hurdle in August, but there are other matters pending, especially that of leadership. The original plan had foreseen that Zee’s CEO Punit Goenka would be its captain, while Sony would own a 51% controlling stake. However, Goenka was banned from managing any listed company in India following an interim regulatory report that accused him and Zee founder Subhash Chandra of running the company for their own benefit and “siphoning off” money.
Goenka appealed the decision with India’s Securities Appellate Tribunal, who heard his plea on Wednesday but has reserved a verdict for at least a week.
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On Friday, Sony said: “Both companies continue to proceed with the necessary procedures to complete the transaction. Although the transaction was previously expected to close by the end of the first half of the fiscal year ending 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.”
The combined companies have the potential to create a giant in broadcast TV — a sector that is still paramount in India — and are valued at $10 billion.
APPOINTMENT
Johanna Devereaux, formerly VP of scripted content and diversity, equity and inclusion strategy for Disney+ EMEA, is joining the Apple TV+ scripted development team under creative director Europe Jay Hunt, based in London. Devereaux’s series for Disney+ include the launch of 34 originals on the platform, with more than 40 further titles greenlit, with titles including “Wedding Season” and “The Good Mothers.”
Previously, Devereaux served as director of development for ABC Studios International, responsible for establishing the studio’s first scripted strategy outside of North America and building a slate across EMEA and APAC, spearheading series including “Harrow” and “The Gloaming.”
KIWI REALITY
Hayu, the all-reality SVOD) service from NBCUniversal will launch in New Zealand on Oct. 5. The service offers some 300 shows and more than 10,000 episodes of reality TV content including every single series, season and episode – current and past – of franchises and spin-offs including “Below Deck,” “Vanderpump Rules” and the U.S. “The Real Housewives,” as well as exclusive access to shows only available on Hayu in New Zealand including: “Made In Chelsea,” “The Real Housewives of Atlanta” and “Watch What Happens Live with Andy Cohen.” The vast majority of U.S. shows will be available on Hayu the same day as their U.S. broadcast.
Subscription will cost NZ$8.99 ($5.40) per month, NZ$43.99 ($26.50) for six months or NZ$79.99 ($48.25) for 12 months. New Hayu subscribers can access a limited-time promotion for a 12-month subscription at 50% off (promotion available Oct. 5-23), which includes a seven-day free trial.
PRODUCTION
U.K./U.S. producer Lightbox, founded by Oscar winner Simon Chinn (“Man on Wire,” “Searching for Sugar Man”) and Emmy winner Jonathan Chinn (“LA 92,” “Tina”) is in production on “Bad Host: Hunting the Couchsurfing Predator,” a three-part documentary series for Sky Documentaries.
Based on the hit podcast “Verified,” the series tells the story of how a group of young women, unknown to each other, who were all victims of a predator who lured them to stay with him using Couchsurfing, a website where travellers can find trustworthy hosts to put them up in their homes for free. Tracing each other through the internet, the young women united and battled for six years, often in the face of indifference in their home countries, to bring him to justice.
The series is being produced in association with Scripps and Fifth Season, who will also handle worldwide distribution rights and will launch the series to buyers at the upcoming Mipcom market.
RELAUNCH
The U.K.’s Channel 4 app is relaunching on British free-to-air satellite television service Freesat‘s 4K TV box, joining BBC iPlayer, ITVX, My5, UKTV Play, BBC Sounds and more. Freesat users will gain access to an additional 16,000 hours of on-demand content via the Channel 4 app, including “Gogglebox,” “The Inbetweeners,” “Married at First Sight” and “The Great British Bake Off.”
Established in 2007 and backed by the BBC, ITV, Channel 4 and Channel 5, Freesat was acquired by Everyone TV in 2021 and reaches two million homes each week via TV and set-top boxes. Customers have access to more than 160 linear channels providing over 60,000 hours of content. Freesat also gives viewers direct access to paid-for services like Netflix, Prime Video and Stingray Karaoke.
Everyone TV recently revealed plans for Freely, a new free TV service that will deliver live TV over broadband, due to launch in 2024.
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