Television

Viacom chairman Redstone sued by nephew

http://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2016/07/28/Viacom.jpg?itok=TUFfYhqk

MUMBAI: US media conglomerate Viacom chairman Sumner Redstone has been sued by his nephew Michael Redstone. Michael has also named his own father in his suit.

Media reports state that in the suit Michael says that both his uncle and father cheated him of a stake in the media conglomerate. Redstone accuses his uncle and father Edward of 'self- dealing', 'breaches of fiduciary duties,' and 'unjust enrichment' in buying back shares of National Amusements (NAI) the company that controls Viacom, CBS and Midway Games - at low prices.

In response a spokeswoman for NAI said that the allegations are knowingly baseless regarding entirely proper transactions that occurred decades ago. NAI will therefore defend vigorously against what it terms as a meritless and frivolous lawsuit.

Reports add that Michael Redstone is looking for money damages amounting to what the present value of the plaintiffs' approximate 50 per cent share of National Amusements are worth today.

Joining Michael Redstone in the suit are trustees of the trusts representing Sumner and Edwards' children. The buybacks occurred in 1972 and 1984 and the company is estimated to be worth about $8 billion.

It is the second suit recently filed against Redstone by a family member. Sumner Redstone?s son Brent filed a suit against his father earlier this year, claiming that he was entitled to a one-sixth interest in National Amusements, valued at more than $1 billion. No trial date has been set for that suit state reports.

Latest Reads

http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/17/tv.jpg?itok=_ddlDW6X
Rural markets drive Hindi GEC FTA channels

Hindi GECs or general entertainment channels draw some of the largest eyeballs across India. “My aim is to get that extra tear from the housewife’s eyes during primetime. I want to keep her riveted to my programmes, to my channel,” the head of a cluster of channels in South India once said.

Television TV Channels Viewership
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/17/ajay.jpg?itok=yWbCSo3N
Sony Marathi banks on fiction to be market leader

Regional is the hot new space for broadcasters and they have taken big bets on vernacular languages to garner higher ratings. Sony Pictures Network India (SPNI), which already has its presence in the Bengali space, saw the potential in Marathi market and made a move to launch its channel on 19...

Television TV Channels Regional
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/17/zeemedia.jpg?itok=4gQKyVW9
Zee Media gets permission for 4 regional news channels

After a long tenure of being strict in awarding channel licenses, the Ministry of Information and Broadcasting (MIB) has finally become lenient. In the month of September, eight new channels received licenses while none saw their licenses cancelled as on 30 September 2018.

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/16/dlf.jpg?itok=04sbgdDF
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/16/shemaroo.jpg?itok=97d82QDJ
Relive the Golden days with Shemaroo Entertainment’s “Friday Rewind with RJ Adaa”

Consumers are in for a treat as Shemaroo Entertainment has lined up a new series in association with Adaa, consisting of famous Bollywood songs.

Television TV Channels Music and Youth
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/16/eros_0.jpg?itok=gtjDHe9Q
Eros International’s Marathi superhit Boyz 2 shines at the box office collecting Rs. 13 crores within 10 days of release

Eros International Media Ltd, a leading global company in the Indian film entertainment industry, has announced a very successful performance of its Marathi release Boyz 2 which has collected Rs. 13 crores within 10 days of its release on 5th October.

Television TV Channels Music and Youth
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/16/Network18_800.jpg?itok=GFctpNpK
Network18 reports improved numbers for Q2 FY19

Mukesh Dhirubhai Ambani’s media arm, Network18, reported improved numbers for the quarter ended 30 September 2018 (Q2 2019, quarter under review) as compared to the corresponding year ago quarter Q2 2018). The company reported 9 per cent y-o-y growth in consolidated revenue for Q2 2019 at Rs 1,237...

Television TV Channels GECs
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/16/media_0.jpg?itok=uJ3zJdcx
ZMCL reports more than quadruple profit for second quarter

The company’s consolidated operating revenue increased 35.5 per cent y-o-y in Q2 2019 at Rs 168.66 crore as compared to Rs 124.51 crore in the year ago quarter. Total income increased 34.7 per cent y-o-y in Q2 2019 to Rs 170.66 crore from Rs 126.71 crore in Q2 2018.

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/15/wire.jpg?itok=rcsQVpJx
Eros Now Partners with Celcom; Consolidates Distribution in Malaysia

Eros International Plc (NYSE: EROS) (“Eros”), a leading global company in the Indian film entertainment industry, announced today that Eros Now, its digital over-the-top distribution service

Television TV Channels Music and Youth

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories