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<ul><li><keyword id="3441386" type="General" weightage="20" keywordseo="sony-pictures-networks-india-private-limited" source="Orion">Sony Pictures Networks India Private Limited</keyword> (SPNI) and Zee Entertainment Enterprises Ltd have entered a definitive agreement to merge ZEEL with and into SPNI and combine their linear networks, digital assets, production operations and program libraries.</li><li><keyword id="599253" type="General" weightage="20" keywordseo="punit-goenka" source="Orion">Punit Goenka</keyword> will lead the combined company as its Managing Director &amp; CEO. </li><li>The majority of the board of directors of the combined company will be nominated by the Sony Group and will include the current SPNI Managing Director and CEO, NP Singh.</li></ul>Sony Pictures Networks India Private Limited (SPNI) and <keyword id="381258" type="General" weightage="20" keywordseo="zee-entertainment-enterprises-ltd-" source="Orion">Zee Entertainment Enterprises Ltd.</keyword> (ZEEL) today announced that they have signed definitive agreements to merge ZEEL with and into SPNI and combine their linear networks, digital assets, production operations and program libraries. The agreements follow the conclusion of an exclusive negotiation period during which ZEEL and SPNI conducted mutual due diligence. After closing, the new combined company will be publicly listed in India. The closing of the transaction is subject to certain customary closing conditions, including regulatory, shareholder, and third-party approvals. Under the terms of the definitive agreements, SPNI will have cash balance of USD $1.5 Bn (assuming an INR:USD exchange rate of 75:1) at closing, including through infusion by the current shareholders of SPNI and the promoters (founders) of ZEEL, to enable the combined company to drive sharper content creation across platforms, strengthen its footprint in the rapidly evolving digital ecosystem, bid for media rights in the fast-growing sports landscape and pursue other growth opportunities. SPNI is an indirect subsidiary of Sony Pictures Entertainment Inc. (SPE). Under the transactions contemplated by a non-compete agreement, SPE, through a subsidiary, will pay a non-compete fee to certain promoters (founders) of ZEEL, which will be used by such promoters (founders) to infuse primary equity capital into SPNI, entitling the promoters (founders) of ZEEL to acquire shares of SPNI, which would eventually equal approximately 2.11% of the shares of the combined company on a post-closing basis. After the closing, SPE will indirectly hold a majority 50.86% of the combined company, the promoters (founders) of ZEEL will hold 3.99%, and the other ZEEL shareholders will hold a 45.15% stake. Punit Goenka will lead the combined company as its Managing Director &amp; CEO. The majority of the board of directors of the combined company will be nominated by the Sony Group and will include the current SPNI Managing Director and CEO, NP Singh. On closing, Singh will assume a broader executive position at SPE as Chairman, <keyword id="833633" type="General" weightage="20" keywordseo="sony-pictures-india" source="Orion">Sony Pictures India</keyword> (a division of SPE) reporting to Mr. <keyword id="212528" type="General" weightage="20" keywordseo="ravi-ahuja" source="Orion">Ravi Ahuja</keyword>, SPE’s Chairman of Global Television Studios and SPE Corporate Development. The combination of ZEEL and SPNI is expected to achieve business synergies and given their relative strengths in scripted, factual and sports programming, respective distribution footprints across India and iconic entertainment brands, the combined company should be well-positioned to meet the growing consumer demand for premium content across entertainment touchpoints and platforms. The seamless blend of rich expertise in content creation, deep consumer insights and success across entertainment genres is expected to drive the combined company’s ability to accrue higher shareholder value. Under the stewardship of the Sony Group, a global leader in consumer technologies, gaming and entertainment, the combined company is expected to be able to better compete with the world’s largest streaming players. As part of the definitive agreements, the promoters (founders) of ZEEL have agreed to limit the equity that they may own in the combined company to 20% of its outstanding shares. This construct does not provide the promoters (founders) of ZEEL any pre-emptive or other rights to acquire equity of the combined company from the Sony Group, the combined company or any other party. Any shares purchased by the promoters (founders) of ZEEL, must be in compliance with all applicable laws including any pricing guidelines. Commenting on this development, Punit Goenka, MD &amp; CEO, ZEE Entertainment Enterprises Ltd. said, “It is a significant milestone for all of us, as two leading media &amp; entertainment companies join hands to drive the next era of entertainment filled with immense opportunities. The combined company will create a comprehensive entertainment business, enabling us to serve our consumers with wider content choices across platforms. I am immensely grateful to the teams at ZEEL, SPE and SPNI for their efforts, that swiftly led us to this point within the stipulated timelines. This <keyword id="42411" type="General" weightage="20" keywordseo="merger" source="Orion">merger</keyword> presents a significant opportunity to jointly take the businesses to the next level and drive substantial growth in the global arena. I look forward to working with the guidance of the esteemed members of the combined company’s board to unlock the potential of this merger, and I wish <keyword id="1436102" type="General" weightage="20" keywordseo="n-p-singh" source="Orion">N.P. Singh</keyword> all the best in his new role at SPE. His contribution to the Indian media &amp; entertainment industry has been invaluable. I am most certain that our collective wisdom, rich experience and expertise will lead to a more value accretive and exciting company for our shareholders and employees, and a more engaging one for our customers and partners.” “Today marks an important step in our efforts to bring together some of the strongest leadership teams, content creators, and film libraries in the media business to create extraordinary entertainment and value for Indian consumers,” said Ravi Ahuja, SPE’s Chairman of Global Television Studios and SPE Corporate Development. “I want to thank Punit and his team at ZEEL and the small army of people at SPE and SPNI who have worked so hard to get us to this point. I especially want to thank NP Singh, who presented us with the idea to explore this merger well over a year ago. N.P. has done extraordinary work building SPNI to what it is today, and we look forward to continuing our work with him in his new role after closing.” MD &amp; CEO, SPNI, N.P. Singh, added, “This merger will create a company that’s best in class and will redefine the contours of the media and entertainment industry. As a representative of SPE on the Board of the new merged company, it will be my endeavour to provide strategic guidance and support to the company’s operating team in achieving our vision. I am also excited at the opportunity of being appointed, Chairman, Sony Pictures India, to oversee SPE’s investments and craft a wider footprint for Sony in India.” SPE was advised on this transaction by Morgan Stanley, KPMG Corporate Finance, and Shardul Amarchand Mangaldas &amp; Co. ZEEL was advised by KPMG, JP Morgan, Trilegal and Boston Consulting Group.

Sony and Zee Entertainment sign definitive agreements to merge, Punit Goenka to lead combined company as MD & CEO

PRNewswire—Bengaluru (Karnataka) [India], July 19: <keyword id="1606194" type="General" weightage="100" keywordseo="Aereo" source="Orion">Aereo</keyword>, India's leading <keyword id="22468617" type="General" weightage="20" keywordseo="drone-based-business-intelligence" source="Orion">drone-based business intelligence</keyword> provider, has successfully closed a <keyword id="22468616" type="General" weightage="20" keywordseo="USD-15-million" source="Orion">USD 15 million</keyword> <keyword id="1095983" type="General" weightage="20" keywordseo="Series-B-funding" source="Orion">Series B funding</keyword> round led by 360 ONE Asset. The round saw participation from long-standing investors StartupXseed Ventures and Navam Capital. Aereo delivers <keyword id="20829411" type="General" weightage="20" keywordseo="business-intelligence" source="keywords">business intelligence</keyword> solutions to help manage large capital assets using proprietary drones and an AI-powered data analytics platform. Their sector-specific solutions cater to mining, infrastructure, urban and rural development, land records, and other industries translating into a 400% revenue growth in the last two years and market dominance. Vipul Singh, co-founder and CEO of Aereo, stated, "This funding milestone enables us to expand our <keyword id="22468614" type="General" weightage="20" keywordseo="aerial-intelligence" source="keywords">aerial intelligence</keyword> solutions for capital asset management. With our proprietary drone tech and 360 ONE Asset's partnership, we aim to revolutionise this $10 billion industry and create a global footprint." <keyword id="22468618" type="General" weightage="20" keywordseo="Suhas-Banshiwala" source="Orion">Suhas Banshiwala</keyword>, co-founder and CTO of Aereo, stated, "Our vision is to continuously innovate drone manufacturing and data analytics for the greater good. We are excited about the confidence our customers and shareholders have shown and are gearing up for an orbital shift." Aereo has been recognised by the Asian Infrastructure Investment Bank (AIIB) as one of the top three infra-tech organisations. As a technology partner for Coal India Limited's Digicoal initiative, Aereo provides critical business intelligence for some of the world's largest coal mines for improving productivity, efficiency, safety, and environmental compliance. It has also been empanelled with Tata Steel since 2019, aiding the digitalisation of over 27 critical mines and stockyards. Over the past three years, Aereo has achieved significant milestones, including mapping over 45,000 villages under the SVAMITVA scheme and covering more than 50,000 sq. km of land area for the Digital India Land Record Modernisation Program (DILRMP). The Series B investment serves as a powerful catalyst for Aereo's growth, with a key focus on automation. Their AI-powered drone data analytics platform is set to revolutionise automation and digitisation. With strategic partnerships, R&amp;D, and new product development, Aereo is ready to lead the global <keyword id="22468613" type="General" weightage="20" keywordseo="drone-solutions" source="keywords">drone solutions</keyword> sector. Karan Ahuja, Fund Manager at 360 ONE, remarked, "We're thrilled with the momentum in the <keyword id="22468615" type="General" weightage="20" keywordseo="commercial-drone" source="keywords">commercial drone</keyword> tech sector in India. Our partnership with Aereo reflects our belief in their cutting-edge innovations, and we're excited for their solutions to go global." Ravi Thakur, Co-Founding Partner at StartupXseed, added, "Aereo has been a trailblazer from the start, delivering exceptional solutions and building the drone ecosystem. We're excited to support them in their next major growth phase."

Aereo, India's leading commercial drone solutions startup, secures USD 15 million in Series B funding round

<ul class="summary-list"><li>Sony has confirmed that <a href="https://www.insider.com/category/jeopardy">"Jeopardy!"</a> will have two new hosts, including a star from "The Big Bang Theory."</li><li><a href="https://www.thedailybeast.com/jeopardy-set-to-announce-mayim-bialik-and-mike-richards-splitting-host-duties?via=twitter_page">The Daily Beast first reported</a> that executive producer Mike Richards will host the daily show.</li><li>Actress <keyword id="1463197" type="PERSON" weightage="60" keywordseo="Mayim-Bialik">Mayim Bialik</keyword> will be the host for primetime specials and spinoff series.</li></ul>"<keyword id="94195" type="ENTERTAINMENT" weightage="60" keywordseo="jeopardy">Jeopardy</keyword>!" will have two new hosts moving forward: <a href="https://www.insider.com/mike-richards-reportedly-host-jeopardy-fans-react-2021-8">Executive producer Mike Richards</a> and "The Big Bang Theory" actress Mayim Bialik. "Sony Pictures Television is set to announce that 'Jeopardy!' executive producer Mike Richards will host the long-running daily syndicated program and actress Mayim Bialik will host primetime and spin-off specials of the famed quiz show," the <a href="https://www.thedailybeast.com/jeopardy-set-to-announce-mayim-bialik-and-mike-richards-splitting-host-duties?via=twitter_page">Daily Beast first reported.</a>Insider received a statement Sony Pictures Television confirming the news on Wednesday morning."We are thrilled to begin the next chapter of America's Favorite Quiz Show with Mike [Richards] hosting our daily show and Mayim hosting new versions of 'Jeopardy!,'" Sony Pictures chairman Ravi Ahuja said in the statement. "We took this decision incredibly seriously." <div type="image" title="Mike Richards holding the Emmy award &quot;Jeopardy!&quot; won for Outstanding Game Show during the 48th Annual Daytime Emmy Awards broadcast on June 25, 2021" height="2812" width="3750" msid="85248734" hostid="261"></div>"We knew early on that we wanted to divide the hosting responsibilities and it became very clear that Mike and Mayim were the undeniable choices," Ahuja continued. "They were both at the top of our research and analysis." Fans of the ABC game show were <a href="https://www.insider.com/mike-richards-reportedly-host-jeopardy-fans-react-2021-8">surprised when Richards was first reported to be a frontrunner</a> for the hosting job last week. Many people online had been <a href="https://www.insider.com/mike-richards-reportedly-host-jeopardy-fans-react-2021-8">signing petitions and tweeting enthusiastically</a> about former "Reading Rainbow" host LeVar Burton, hoping he would be the next face of "Jeopardy!" Richards joined the "Jeopardy!" team as an executive producer just last year. After Variety broke the news that he was in "advanced negotiations" to become a permanent host, <a href="https://www.thedailybeast.com/jeopardy-host-frontrunner-mike-richards-alleged-history-of-harassment-discrimination">a report from The Daily Beast detailed how Richards had allegedly been accused of harassment and discrimination</a> during his decade-long stint as a producer on "The Price is Right."In response to that report, Richards sent an internal memo to the "Jeopardy!" staff."These were allegations made in employment disputes against the show," he wrote in the memo. "I want you all to know that the way in which my comments and actions have been characterized in these complaints does not reflect the reality of who I am or how we worked together on 'The Price Is Right.'"<div type="image" title="Mayim Bialik" height="1503" width="2000" msid="85251278" hostid="261"></div>Alex Trebek, the show's host for 36 years, <a href="https://www.insider.com/daytime-emmys-alex-trebek-larry-king-nominated-posthumous-awards-2021-5">died in November 2020.</a> When "Jeopardy!" returned to air, Sony solicited a <a href="https://www.insider.com/jeopardy-guest-hosts-this-season-2021-4">series of guest hosts,</a> including both Richards and Bialik. Earlier this year, Bialik spoke with <a href="https://www.insider.com/how-mayim-bialik-became-jeopardy-guest-host-2021-4">Insider's Kirsten Acuna about her guest-appearance</a> as a "Jeopardy!" host.When asked if she would ever throw her hat into the ring to host more permanently and if that may be of interest, Bialik said, "I think it would be an unbelievable honor to get to be involved in any further way, especially as a woman in science. I'm super open to really anything, but also just so honored to be able to guest, and to, hopefully, not look like a fool."Current guest host Joe Buck will appear on the show until August 13. "Jeopardy!" airs weekdays at 7:30 p.m. ET.

'Jeopardy!' will officially have 2 hosts for the first time ever

Quite a many major industry segments in India are doing very well in India producing billionaires. Making a positive impact on the Indian economy by catering to the needs of both domestic market and exports, several industry segments are outperforming the others. Here are the top 10 industry segments in the country that have produced the maximum number of billionaires as per the Hurun Report. 1. Pharmaceuticals Pharmaceuticals in India have produced the highest number of billionaires numbering 137. The richest person from this industry segment is Poonawalla with a net worth of INR 88,800 crores. Indian is the largest supplier of generic drugs to the world. India fulfills more than 50 percent of the global need for different vaccines, 40 percent of the generic medicine demands of the US and 25 percent of the total medicine needs of the UK. 2. Software &amp; Services The software and services sector has produced 73 billionaires, the second largest number in India on the Hurun Report. The richest person in this industry segment is Azim Premji with a net worth of INR 1,17,100 crores. India has some industry leaders in this segment including Infosys, Wipro, TCS and Tech Mahindra that provide diverse kinds of products across different industry segments. 3. FMCG FMCG industry segment in India has produced 59 billionaires and hence stands in the third rank for producing the highest number of billionaires. The richest person from this segment is Nusli Wadia &amp; Family with a net worth of INR 42,200 crores. In the fast-moving consumer goods segment, household and personal care products alone account for 50 percent of the sales. 4. Chemicals and Petrochemicals Producing 57 billionaires, the chemicals and petrochemicals segment in India stands in the fourth position for producing the highest number of billionaires. Sri Prakash Lohia with a net worth of INR 40,500 crores is the richest one from this segment. The dominant players in this segment are Reliance Industries Ltd (RIL), Indian Petrochemicals Corporation Ltd. (IPCL), Gas Authority of India Ltd. (GAIL) and Haldia Petrochemicals Ltd. (HPL) 5. Automobiles &amp; Auto Components The fifth one in the list of industries producing the highest number of billionaires is the automobiles and auto components sector in India producing 45 billionaires. The wealthiest person from this sector is Rahul Bajaj &amp; Family with a net worth of INR 60,700 crores. India is among the largest markets in the world and also among the leaders in the commercial vehicles manufacturing segment. 6. Construction &amp; Engineering Construction engineering sector in India has produced 45 billionaires and thus stands in the sixth position among the <keyword id="8885473" type="General" weightage="20" keywordseo="top-10-industries" source="Orion">top 10 industries</keyword> producing the highest number of billionaires. The richest in this sector is P Pitchai Reddy enjoying a net worth of INR 13,400 crores. Tis segment is one of the largest employers in India and makes a significant contribution to the nation’s economy. 7. Financial Services The financial services sector in India has produced 43 billionaires with the richest person Uday Kotak having a net worth of INR 94,100 crores. This segment comprises commercial banks, co-operatives, non-banking financial companies, insurance companies, mutual funds, pension funds, and other smaller financial entities. 8. Food &amp; Beverages The total number of billionaires in Indian that have made their wealth in the food and beverages sector is 39. This makes this industry segment eighth member in the list of top 10 industries producing the highest number of billionaires. The wealthiest person from this sector is Ravi Jaipuria &amp; Family and the family’s net worth is INR 11,500 cores. India’s food and beverage industry makes up the major part of the Consumer Packaged Goods (CPG) industry. 9. Textiles, Apparels &amp; Accessories The textiles, apparel and accessories segment in India has produced 36 billionaires and this segment is ranked the ninth among the top 10 industry segments that have produced the highest number of billionaires. The wealthiest person from this sector is Harish Ahuja having a net worth of INR 5,900 crores. Indian textile industry is one of the oldest in the world and highly varied in terms of deliverables. 10. Real Estate The real estate sector in India has produced 33 billionaires and thus it stands in the tenth position among the industry segments that have produced the highest number of billionaires. The wealthiest person from this segment is Jitendra Virwani and his net worth is INR 29,900 crores. The real estate sector in the country is among the most recognized sectors across the globe. The four sub sectors of this segment include housing, retail, hospitality, and commercial.

Top 10 industries in India with most billionaires

If Prime Minister <keyword id="6354477" type="PERSON" weightage="100" keywordseo="Narendra-Modi">Narendra Modi</keyword> is to be believed, <keyword id="42575" type="PERSON" weightage="100" keywordseo="Arun-Jaitley">Arun Jaitley</keyword>'s Budget 2017-2018 is going to boost the housing sector tremendously. And, with <keyword id="136927" type="ORGANIZATION" weightage="100" keywordseo="affordable-housing">affordable housing</keyword> projects getting the infrastructure status, there is much cause for joy among <keyword id="6354553" type="COMPANY" weightage="100" keywordseo="real-estate">real estate</keyword> companies. 
 
So, we decided to ask the real estate sector their reaction of the Budget and its announcements for housing projects. 
 
According to Sunil Mishra, Chief Strategy Officer, PropTiger.com, the budget has been cautious albeit balanced for the real estate sector. "One of the standouts for the real estate sector was definitely the affordable housing segment being granted infrastructure status. Housing for All by 2022, is not just a dream but a necessity for a country like India that’s urbanising at a rapid pace. The move to measure the areas in affordable housing projects – 30 sq mts for the projects in municipal limits in the 4 metros, and 60 sq mts for the rest of India, on carpet area as against the earlier built-up area, will translate into homes that are 30 per cent larger. This should amplify the interest of developers further, to build more affordable projects, thereby, increasing supply," he said. 
 
Additionally, he was also of the opinion that 100% deduction for profits, for affordable housing projects which earlier needed to be completedin three years, now have to be completed in five years will bring relief to developers plagued by approval issues, a common sight in the country. 
 "A one year tax break for unsold inventory that has received the CC, will bring some relief to developers. The move to abolish FIPB, indicates further liberalisation of the FDI policy, something that the finance crunched sector would welcome. Long-term capitals gains tax benefit which could be availed after three years, can now be availed after two years, which would please investors and <keyword id="6371902" type="UNKNOWN" weightage="100" keywordseo="home-buyers">home buyers</keyword> alike. The new Metro Rail Act which is to focus on innovation, and the government’s decision to focus on MMTS, would augur well in creating connectivity for peripheral locations – something that’s a must if developers and buyers are to be incentivised for investing in emerging locations," Mishra added. 
 
Echoing his view, Ravi Ahuja, Director, Office Services &amp; Investment Sales, Colliers International India admitted that the infrastructure status will indeed act as a catalyst to meet the objectives of Housing to all by 2020. "Credit offtake towards affordable segment of housing will lead to creation of supply specially for both stake holders the first home buyer and developer who will now have access to cheaper funding. The Govt. will redefine 'affordable housing' - this is very much required, as we expect the government to make a deliberate decision on defining affordable housing keeping in view the differentiation between Tier 1, 2 and 3 locations / cities across the Indian geographies” he added.

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Sony and Zee Entertainment sign definitive agreements to merge, Punit Goenka to lead combined company as MD & CEO

BI India Partner

Aereo, India's leading commercial drone solutions startup, secures USD 15 million in Series B funding round

ANI

'Jeopardy!' will officially have 2 hosts for the first time ever

Kim Renfro

Top 10 industries in India with most billionaires

BI India Bureau

Here's how the real estate sector rated Arun Jaitley's Budget 2017

Poulomi Das

Maharashtra identified 14 districts as red zones— here’s the complete list of containment zones in Mumbai and Pune

Navdeep Yadav

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