ZEEL to merge with Sony Pictures Networks India (Ld)

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Mumbai, Sep 22 | Financially troubled Zee Entertainment Enterprises Ltd will merge with Sony Pictures Networks India (SPNI).

Accordingly, the board of ZEEL has provided an in-principle approval for the merger.

“The Board has evaluated not only on financial parameters, but also on the strategic value which the partner brings to the table. The Board concluded that the merger will be in the best interest of all the shareholders & stakeholders,” ZEEL said in a regulatory filing.

“The merger is in line with ZEEL’s strategy of achieving higher growth and profitability as a leading Media & Entertainment Company across South Asia.

According to the filing, shareholders of SPNI, will hold a majority stake in the merged entity.

“The shareholders of SPNI will also infuse growth capital into SPNI as part of the merger such that SPNI has approximately $1.575 billion at closing, for use in pursuing other growth opportunities.”

“Based on the existing estimated equity values of ZEEL and SPNI, the indicative merger ratio would have been 61.25 per cent in favour of ZEEL. However, with the proposed infusion of growth capital into SPNI, the resultant merger ratio is expected to result in 47.07 per cent of the merged entity to be held by ZEEL shareholders and the balance 52.93 per cent of the merged entity to be held by SPNI shareholders.”

Furthermore, ZEEL and SPNI have entered into a non-binding term sheet to combine both companies’ linear networks, digital assets, production operations and program libraries.

The term sheet provides an exclusive period of 90 days during which ZEEL and SPNI will conduct mutual diligence and finalize a definitive agreement.

In addition, the filing said that the merged entity will be a publicly listed company in India.

The move to merge ZEE comes at a time when the entity is engaged in a boardroom brawl with the company’s two largest shareholders expressing non confidence with existing management and seeking an extraordinary general meeting to sack a few directors, including ZEEL’s managing director and CEO Punit Goenka.

Interestingly, under the terms of the merger Goenka is expected to be MD and CEO of the new entity.

The development comes as massive changes are taking place in the sector.

Additionally, not only will the development led to the creation of one of the biggest entertainment and media companies in India but will fulfil individual deficiencies that the two companies separately suffered.

“Sony is strong in the Hindi GEC segment (especially in non-fiction space) where Zee is weak. Zee is strong in movies (across genres) and regional GEC space,” said Ashwin Patil, Sr Research Analyst (media) at LKP Securities.

“Zee has 18 per cent network viewership share and Sony should be 10-12 per cent in our view. Additionally Sony is strong in ‘Sports’ as well. Thus it would be a good strategic fit from broadcast, digital and content perspective.”

In addition, Santosh Meena, Head of Research, Swastika Investmart said: “The recent announcement of a deal with Sony will be a very positive trigger for Zee Ltd as it will have a quality promotor and that will ease the issue of corporate governance in the company.”

“Though the deal is a non-binding agreement so it will take some time for more clarity but this deal will bring a good synergy for both the company to grow their businesses and the combined entity will become the largest player in the industry.”

Source: IANS

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7 Reasons Why You Should Purchase Italian Furniture

7 Reasons Why You Should Purchase Italian Furniture

Very often we see people speaking ever so highly of the Italian furniture they own, while we see others gushing over Italian furniture and expressing their deep desire to own at least one such piece of furniture. Italian design and decor are widely hailed across the world for their strong emphasis on quality and simple shapes that combine both tradition and modernity through the finest craftsmanship.

The way a person decorates their home is a reflection of their personal style and identity. Needless to say, tastes and preferences vary wildly, especially when it comes to items of furniture with regard to their size, shape, texture, and color.  However, regardless of the specific kind of design a person likes, Italian furniture is a dominant player in the furniture and home design industry.

For several centuries, Italy has been considered to be a hub for culture, literature, and the arts as well as architecture and design. Italian style interior design has been the preferred choice for an ever-increasing number of people, and this is not just a recent trend. Italy is a country that is synonymous with class, sophistication, and exceptionally high quality, and this shows in the sheer popularity of Italian furniture today. Italian sofa manufacturers take great pride in the quality and design of their sofa sets, and one need not look far to see that even the most discerning customers are duly pleased with Italian furniture.

So what is it that makes Italian furniture so popular? Let’s take a closer look!

Timeless charm and appeal

Italian sofas, chairs, tables, and other pieces of furniture have a charm that is impossible to compete with, leave alone outdo. Not only are Italian furniture pieces renowned across the world for their quality and appeal, but they are also items whose aesthetic value appreciates over time. Italian furniture has an inimitably characteristic beauty and these furniture pieces only tend to look even better as the years’ pass. The fact that only the best quality materials are used for their manufacture is what makes Italian furniture so sought after.

Strong and durable

While many prospective customers will tend to get deterred or even discouraged by the fact that Italian furniture costs a fair amount of money, these furniture pieces are made with the best quality materials and are guaranteed to last for decades if not centuries. That being said, purchasing Italian furniture should be best viewed as an investment and not just an expenditure, as the elegance, durability, and comfort that these furniture pieces will offer you are their own reward.

Unbeatable quality and elegance

Italian artisans and craftsmen are famous across the world for their dedication, patience, and attention to detail. It goes without saying that Italian products, in general, are synonymous with high quality, and one only needs to look at history to see how true this is. Since time immemorial, Italian manufactures have strived for excellence and have always made sure that the products they make are nothing short of the best. Therefore, Italian furniture is a symbol of Italian perfection, sophistication, and class.

Exquisitely comfortable

The very purpose of furniture pieces such as sofas, chairs, and couches is to provide comfort to people. Italian furniture will not just provide unmatched comfort but will also give any person the feeling of being in exquisite and opulent surroundings. There is no doubt that a handcrafted piece of Italian furniture will convey a feeling of elegance and sophistication.

Wide variety of furniture designs

Many people are under the wrong impression that Italian furniture is available only in very specific parts of the world and that they are few in number. The good news is that this is not true. Artyz offers you a wide assortment of Italian furniture, and you are sure to find something that perfectly suits the design and aesthetics of your home. Not only will you be able to choose from sofas, ottomans, tables, beds, tables, and much more, you will also have the choice of selecting from a wide variety of designs. Given the fact that a lot of hard work and craftsmanship goes into making Italian furniture, you can make your living space truly unique by purchasing one or more exquisite furniture pieces.

High caliber craftsmanship

Italy is a world leader in manufacturing for a number of reasons. To begin with, only the highest quality of materials are used, and this, coupled with the unique and unparalleled skill sets that Italian artisans have, you can be assured of nothing less than the best. Italy has long been hailed for its contributions to several fields of the arts, such as painting, sculpture, music as well as design. That being said, painstaking hard work, unbridled dedication, and sharp attention to detail have made Italian craftsmanship an ideal in and of itself.

Novelty and inimitability

Unlike cheaper, mass-produced furniture that is readily available and most often delivered in a cardboard box, Italian furniture pieces are meticulously handcrafted and made with immense dedication and focus on the details. Italian furniture is very eye-catching and will without a doubt convey a sense of luxury and opulence to both residents and guests alike. Such furniture pieces will have a direct effect on the mindset and mood of residents as they will notice how the furniture pieces enhance and enrich the home.

Before you rush off to purchase Italian furniture pieces for your home, do check out Artyz. Artyz is a renowned furniture showroom in Kolkata that offers you a vast range of furniture choices that can suit the requirements of any living space and can accommodate any budget. As a leading furniture showroom, the focus remains entirely on providing top-quality furniture at affordable and reasonable prices. Simply take your pick from the diverse furniture selection and let Artyz handle the rest. By having Italian furniture in your home, you will be able to liven up your living space in unimaginable ways. The sheer elegance of Italian furniture is what creates a statement like no other style.

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Inspiring Journey of Rajasthan’s Deependra Singh Shekhawat From Monthly Salaries to Founder of Fifteen Crore Turnovers Company

Inspiring Journey of Rajasthan’s Deependra Singh Shekhawat From Monthly Salaries to Founder of Fifteen Crore Turnovers Company

Guy Kawasaki has rightly said that pursuing your passions makes you more interesting, and interesting people are enchanting. Passion is an underrated term as people believe more in hard work and dedication. We often forget that passion is what guides us to success. Deependra Singh Shekhawat is one of the few who proved that hurdles are hidden opportunities, and when utilized appropriately, they will lead you to victory.

Deependra Singh Shekhawat, being the son of a farmer, has the background of a middle-class family. He belongs to a small village of Udaipurwati, district Jhunjhunu of Rajasthan. However, his status never deterred him from dreaming. Dreams full of his passion gave him the strength to fight the battles in his life. After graduation, he initially started from a regular job. However, he was not content with his occupation. He sensed stagnancy in his career. Soon, he started thinking and strategizing about business. This thought process led him to join a renewable energy company, Adani Renewable Energy, to learn about business as the next step in his professional journey. From then on, there was no stopping him; he was on a roll. In 2015, he established Vertex Solution Company and became one of the top vendors of Adani Solar Energy. He went the extra mile by working with India’s well-known renewable energy organizations as Avada Sola, Tata Solar, O2 Power, and many more.

Deependra says that his passion for renewable energy spawns from the fact that renewable energy is one of the significant contributors to boosting the country’s economy and generating jobs. He further adds that adopting renewable sources of energy is a healthier option. He claims it is high time we start living peacefully with nature for the sanity of itself and humankind. Additionally, he has provided with job opportunities for the youth of his village Sarai and has become the Youth icon of Rajasthan. Despite belonging to a middle-class family, he left no stones unturned to achieve success and rose from the bottom of the pit to flying like an eagle. From having big dreams to making others’ dreams come true, he has come a long way.

His journey is inspiring hundreds and thousands of youngsters of middle-class families throughout the country. People are burning with passion after witnessing the change in his life. His life journey is constantly changing the lives of many for the best. He is igniting the fire of eagerness for victory in them.

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