Investments

Sports, digital to drive Viacom18 revenue for 'foreseeable future'

SportzPower Team

Apr 23, 2024 21:04

Read more about Sports, digital to drive Viacom18 revenue for 'foreseeable future'
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Revenues at Viacom18, the media arm of Mukesh Ambani’s Reliance Industries Limited (RIL), grew by 49% for the 2023-24 financial year on the back of sports and news. The company’s revenues reached Rs 10,826 crore ($1.3 billion) in FY24 as compared to Rs 7,266 crore ($872m) in FY23.

Per the company’s statement, sports was the biggest driver of revenue growth for Viacom18.

EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) was significantly down however - from $28.3 million the previous year to $3.9m.

Jan 12, 2024 18:01

World of Krida announces their 4th 3X3 basketball franchise

World of Krida Private Limited, a multi-sport franchise owning company, Friday announced their fourth 3X3 Basketball team, Toronto Patriots for the FIBA 3x3 backed 3x3.EXE Super Premier Basketball League in Japan. The 3x3.EXE Super Premier basketball league’s inaugural edition will tip-off at the Xebio Arena Sendai, Japan.

Jan 11, 2024 12:01

GMR Group in advanced talks to buy into Hampshire: Report

The GMR Group, co-owners of Indian Premier League franchise Delhi Capitals is reportedly in "advanced talks" to buy a controlling stake in British county side Hampshire. A report in the UK's 'Daily Telegraph' said former Hampshire chairman Rod Bransgrove, who still holds a majority stake in the club, is close to agreeing a deal to sell the county side to the GMR Group.

Jan 10, 2024 19:01

Merger talks with ZEE will continue till Jan 20: Sony Group

Sony Group on Wednesday stated that talks between its Indian media and entertainment unit with Zee Entertainment Enterprises Ltd (ZEE) with regards to the proposed $10 billion merger are ongoing and that they will continue till January 20, according to Nikkei.

Jan 10, 2024 18:01

2036 Olympics bid: Guj forms co. to build infra, budgets Rs6000cr

The Gujarat government has formed a separate company and earmarked Rs 6,000 crore to build six sports complexes to host the 2036 Summer Olympic Games in case India wins the bid for the quadrennial multi-discipline sporting extravaganza, an official said on Tuesday.

Jan 08, 2024 20:01

Pataudi Royalty, Saif Ali Khan, Kareena Kapoor buy ISPL's Kolkata team

MUMBAI: The Indian Street Premier League (ISPL), India’s pioneering tennis ball T10 cricket tournament to be played inside a stadium, proudly announces Bollywood Star couple, Saif Ali Khan and Kareena Kapoor Khan as owners of the Kolkata team. The Pataudi legacy shines with this collaboration as Saif Ali Khan’s father, Mansoor Ali Khan Pataudi was a famous Indian cricketer and Indian cricket team former captain.

Jan 08, 2024 18:01

Sony set to issue termination notice on ZEEL merger: Report

The long in tooth soap opera that has been the proposed $10 billion merger of the India operations of Zee Entertainment Enterprises Ltd (ZEEL) and Culver Max Entertainment Private Limited (CMEPL aka Sony Pictures Networks India Pvt Ltd - SPNI) is reportedly dead in the water.

Dec 25, 2023 06:12

Jim Ratcliffe buys 25% share in ManU for $1.3bn

Manchester United plc announced Sunday that it has entered into an agreement under which British billionaire Jim Ratcliffe, chairman of INEOS, will acquire 25 per cent of Manchester United’s Class B shares and up to 25 per cent of Manchester United’s Class A shares for $1.3 billion and provide an additional $300 million intended to enable future investment into Old Trafford.

Dec 21, 2023 18:12

ASICS unveils growth plans, targets 50 new stores by 2025

BENGALURU: Japanese sports performance brand ASICS is eyeing expansion in India by adding 50 new stores by 2025. In a press release issued Wednesday, ASICS stated that its first mono-brand store would open in 2026, giving Indian consumers access to an expanded global product portfolio.

Dec 21, 2023 18:12

Sony, Zee merger deadline has 1-month grace provision: Report

Zee Entertainment Enterprises Ltd (ZEEL) and Culver Max Entertainment Private Limited (CMEPL aka Sony Pictures Networks India Pvt Ltd - SPNI) have an additional month beyond the December 21 deadline to finalise their $10 billion India operations merger, Bloomberg reports.

Dec 18, 2023 17:12

Zee seeks extension of timeline to complete merger with Sony

The wait for closure on the merger proposal between Zee Entertainment Enterprises Ltd (ZEEL) and Culver Max Entertainment Private Limited (CMEPL aka Sony Pictures Networks India Pvt Ltd - SPNI) has just got longer. But no one is surprised.

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